Our daily roundup of retirement news your clients may be thinking about.

How to responsibly raid your retirement account
Experts want 401(k) plan administrators to make loan application easier so participants will no longer make withdrawals that will require them to pay penalties and make them lose investment gains and future income, according to this article on Bloomberg. Workers normally pay back their 401(k) loans but people are likely to default on their loans when they become unemployed, based on a report from the ERISA Advisory Council. The council recommends that employers give their former workers more time to pay their 401(k) loans or allow the loans to be rolled over to the next employer's plan.--Bloomberg

Here's a Social Security strategy worth pondering
Clients have the option to collect their Social Security benefits early and invest the money to grow, according to this article on CBS Moneywatch. Such a strategy could result in more gains than delaying the benefits until 70 if clients invest in the stock market and get favorable rates of return, or they die before their average life expectancy. Delaying Social Security benefits until 70 is a better option if clients want to invest in bonds, expect poor returns from investing in the stock market, or expect to live longer than the average life span.  --CBS Moneywatch

3 ways to protect your nest egg from rising drug costs
Prescription drug costs are on the rise and will hit retirees hard as they experience more health problems and spend more on out-of-the-pocket drug expenses, according to this article on MarketWatch. They may also shop around to look for pharmacies that sell drugs at a lower price and generic medications. There are websites that also provide people with information to help find affordable medicine or allow them to raise funds through crowdsourcing to buy the prescribed drugs.  --MarketWatch

How to balance spending and safety in retirement
There are various techniques to tap retirement savings without running out of money before death, but these approaches have pros and cons, writes Darrow Kirkpatrick, a retiree who writes about saving, investing and retiring on his blog CanIRetireYet.com. Clients need to understand these strategies and come up with their own solution using these techniques, writes Kirkpatrick. This way, clients will "be able to move forward with an enjoyable retirement that balances both spending and safety."  --Time Money

Who needs beaches? More boomer retirees are staying put
Unlike the previous generation of retirees, baby boomers prefer a more active lifestyle, according to this article on CNBC. "Today's older adults want to have amenities, but at the same time they want to live in a safe, affordable and connected community that offers quality health care and an active lifestyle," says Anusuya Chatterjee, associate director of the Milken Institute. "They want ready access to transportation, education and employment opportunities."  --CNBC

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