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

Is Social Security a 'bond' in your portfolio?

While financial advisors underestimate the role of Social Security benefits in their clients' retirement portfolios, more experts want investors to look at the government-guaranteed income in a strategic way, according to this article in U.S. News & World Report. Unlike retirement savings accounts, Social Security is not an investable asset where investors can boost their contributions. However, clients can maximize their benefits by making strategic decisions when claiming their benefits, and subsequently make the right move for the rest of their savings, experts say. -- Yahoo Finance

The rules for making penalty-free withdrawals from your retirement accounts

Clients who have a 401(k) or a 403(b) employer-sponsored retirement plan can take a withdrawal from either account without a 10% penalty when they turn 59½, according to this article on Kiplinger. They are also allowed to withdraw from these accounts penalty-free before that age if they left their job at 55 or older. Public sector workers can withdraw from their 457 plans without the penalty if they opt to resign from their job at any age. -- Kiplinger

How to play catch up with your clients' retirement savings

Clients who started late in retirement saving need to boost their savings rate so they can build a sizeable nest egg for their golden years, according to this article on CNNMoney. Also, they need to continue working and defer their retirement plan to a later date to save more and allow their money to grow. Delaying Social Security benefits is a wise decision since it will boost the value of their benefit by investing in low-cost index funds and ETFs. -- CNNMoney

Should retirees shoulder the risk or transfer it?

Investors tend to transfer risk when approaching retirement, but they need to understand that buying an annuity to get less risk is not an investment move, according to this article on MarketWatch. Annuities are not meant to receive investment returns; but it is a good option to get principal protection, income for life, legacy and long-term care. Clients are advised not to buy an annuity if they only have one of these goals, while those who consider getting the product need to ladder the purchase to have better interest-rate pricing. -- MarketWatch

Do your clients have a transportation plan for retirement?

Clients need to account for transportation options when planning for retirement, according to this article on Forbes. Having no transportation options affect the overall quality of life of retirees, based on a study by National Association of Area Agencies on Aging. "Many callers express frustration because they can’t do simple things like visit the doctor, buy food or socialize with peers because the options for getting from Point A to Point B are limited," the report says.  -- Forbes

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