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

Are big changes coming for Medicare, Social Security?

Lawmakers are likely to pass as early as next year some measures aimed at changing the rules governing Social Security, Medicare and Medicaid, according to this article on Kiplinger. This may happen as candidates in next year's presidential election are compelled to address various issues including those that involve these entitlement programs. One of the issues that lawmakers are expected to fix is how to shore up the Social Security disability fund before monthly payments for disabled workers are reduced by 20%. –Kiplinger

5 steps for a comfortable retirement

Clients who want to have a comfortable life in retirement are advised to make retirement saving a priority, according to this article in U.S. News & World Report. They also need to develop an investing strategy that they are comfortable with and look for hobbies and other activities that they enjoy doing. Spending on things that boost their enjoyment, such as cable TV won't hurt, while relocating close to lifelong friends will make life in retirement a little more comforting. –Yahoo Finance

Social Security Q&A: How should I file if single and never married?

A 62-year-old unmarried client may opt to file for Social Security retirement benefits before reaching full retirement age, suspend the benefit when he turns 66 and resume it at age 70, according to this article on Forbes. The benefit he will start receiving before FRA will be reduced by 25% but will increase 32% when he resumes collecting it at age 70. The strategy is recommended as the average life span is on the rise. –Forbes

Sabotage in your IRA: Sens. Warren and Booker

President Barack Obama and the Department of Labor are working on new rules that will require financial advisors to observe fiduciary standards when providing guidance to retirement investors, a move that is "a strong step in the right direction," write Sens. Elizabeth Warren, D-Mass., and Cory Booker, D-N.J. High fees and hidden payments pose a challenge to middle-class families who are striving to build a nest egg for the golden years, the senators write. "Hard-working Americans who manage to scrape together some savings for their retirement should be able to trust that their advisers are working for them — not against them." –USA Today

Opinion: 5 biggest financial mistakes Gen X and Gen Y make

Americans who belong to Gen X and Gen Y make the mistake of skipping professional advice when making decisions affecting their retirement, according to this article on MarketWatch. They also fail to start building their nest egg as early as they can and to take advantage of their employer's 401(k) match contributions. Many young workers also make the mistake of not contributing to workplace retirement savings plan, while many others in these age groups fail to invest in stocks. –MarketWatch

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