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

Social Security: The biggest threat to your benefits (Hint: It isn't claiming at 62)

The Social Security benefits that retirees actually receive could be lower than what they are supposed to get if they failed to update their wage record on the program’s Master Earnings File, according to this article on The Motley Fool. This is because the Social Security Administration computes the benefits based on the 35 highest earning years on the beneficiary’s work history. Clients are advised to check their wage record and take the necessary action to rectify any errors they will find. –The Motley Fool

4 things I wish I’d known before retiring abroad

Clients seeking to retire abroad are advised to think long-term in terms of their psychological and emotional needs, according to this article on MarketWatch.  They should prefer happiness to comfort and learn to deal life challenges with the right attitude.  Conducting a research on the country, the local place and the native language will also help them get started. –MarketWatch

Should you invest your retirement savings in an immediate annuity?

Clients who consider investing in immediate annuities should weigh a number of factors and consider some strategies before making any move, according to this article on Kiplinger. They are advised to consider the benefits and the long-term results of investing in a type of annuity. A tactic that they may also use is to buy an annuity that will fill the difference between the total sum of their expenses and their sources of income. They may also consider delaying investments to wait for higher rates, spread out purchases and protect their investments with insurers rated A. –Kiplinger

Don't let a common mistake sideline retirement goals

Many people are confident about their knowledge on personal finance but their student loans and children’s education prevent them from saving for retirement, according to a survey by the National Foundation for Credit Counseling. "Many Americans are spending their adult lives slowly chipping away at a mountain of student loan debt only to find themselves approaching retirement later in life with little or no savings. The stakes are too high for consumers to let misplaced confidence get in the way of sound financial decisions." says NFCC President and CEO Susan C. Keating. –USA Today

Saying ‘Yes’ to a Couple’s Dream House

A financial planner had to meet with her clients –a couple- who decided to tap their retirement savings to build a beachfront house so they can lure their grandchildren to visit them and spend time with them, according to this article in The Wall Street Journal. The decision posed a concern since it boosted the couple’s withdrawal rate from 6.5% to over 10%, but the move made the couple very happy. Because of the outcome, the expert helped the couple to save money to offset the big withdrawals by improving their tax position and reconciling the housing expenses to their budget. –The Wall Street Journal

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