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

No bump likely in Social Security checks next year
Retirees may receive no increase in their Social Security benefits in 2017, as the Board of Trustees of the Social Security Trust Funds says that the cost-of-living-adjustment could range between zero to 0.7%, according to this article on CNBC. "It's scary for seniors on fixed income," says an expert. "People are resigned to it being what it is: They're not getting an increase and they're cutting expenses in other places." –CNBC

Image: Bloomberg
Image: Bloomberg

Is this what you had in mind for retirement? Here’s what actual retirees found out
A survey has found that pre-retirees' spending projections differ from the expenses that seniors actually incur in retirement, according to this article on Bloomberg. Poll results also show that pre-retirees expect to have seven more years than today's retirees to build their nest egg. Compared with current retirees, pre-retirees are more inclined to expect that selling a property could provide them with an income in retirement, the survey found. –Bloomberg

4 questions retirees should ask before moving
Retirees who consider relocating should take a number of factors into account before making a decision, according to this article on Yahoo Finance. They should ensure that the location is close to health care facilities that are conveniently accessible in case they need help. Retirees should also ensure that the community is safe and that it offers efficient transport options. –Yahoo Finance

How early retirement affects Social Security benefit
A client who stopped working at age 55 after being in the labor force for more than 35 years can expect his Social Security retirement benefits at age 67 to be based on his income for the 35 highest years of earnings, according to an expert. “So, while you are not technically ‘penalized’ for removing yourself from the workforce when you turned 55, in effect you will have reduced your highest 35-year earnings average because you stopped working at a point when your earnings (had you continued working) would have pushed your average higher.” –USA Today

Should you buy an immediate annuity?
Buying an immediate annuity is one way for clients to ensure they will have guaranteed income throughout their retirement, according to this article on Motley Fool. While an immediate annuity will allow buyers to determine how much income they will receive every month after retiring, clients are advised to annuitize just a portion of their retirement assets after retirement due to the many downsides of having an immediate annuity. This will enable them to invest assets in other places, where their savings can grow and enhance their retirement income. –Motley Fool

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