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

Protect your retirement from the government's whims
Government policies, particularly changes to tax rates, can have a significant impact on retirement savings that your clients need to be aware of. For instance, the fiscal 2016 budget includes proposals to limit the value of itemized tax deductions for IRAs and 401(k)s and other expenses to 28% and applying the required minimum withdrawals for non-Roth IRAs to Roth IRAs, according to this article on CNNMoney. Investors are advised to protect their retirement accounts from unfavorable tax changes by spreading their savings around so their assets will receive different tax treatment and by developing a strategy that will reduce their taxes on withdrawals from their retirement accounts.  --CNNMoney

How much should you contribute to your 401(k)?
Workers are advised to set aside as much as they can for their 401(k) plans, even it is a small amount, as more companies have stopped offering defined-benefit pension plans, according to experts, according to an article in U.S. News & World Report. Unlike IRA investors 401(k) participants who are older than 70½ are allowed to defer withdrawals until April 1 of the year following their retirement. Also, employer-sponsored plans are an effective retirement savings vehicle especially because of the employer match contributions, so workers should take advantage of this free money.--Yahoo Finance

6 easy steps to get started with investing
Automating contributions to 401(k) and other workplace savings plans is an effective strategy to develop the habit of saving and investing, according to this article on DailyFinance. People should develop the habit of investing even if they have a small amount of money to invest, use dollar-cost averaging if the stock market is volatile, and prioritize investing if they want to secure their future needs. Clients also need to have a plan on how to achieve their investing goals, and to educate themselves continuously. --DailyFinance

Seniors increasingly fall victim to so-called sweetheart scams
Seniors may fall victims to the "sweetheart scam" as they tend to look for love and affection online, according to this article on CNBC. A study shows that older people are more vulnerable to financial fraud than those who are in their 40s, while an estimate indicates most of those who became victims didn't tell their children for fear that they would lose control over their money. "This is such an underreported crime," says Amy Nofziger, an expert with the AARP Fraud Watch Network.  --CNBC

Baby Boomers slowly growing more comfortable with retirement
The number of workers age 60 and above who opted to defer retirement declined to 53% this year from 58% last year, according to a survey from CareerBuilder. Seventy-five percent of those who decided to put off retirement made the decision since they still need to recover financially from the recession, with 49% of them not planning to retire for at least five years, the survey finds.--Fortune

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