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

The economic recovery hasn't been kind to boomers
Although some people in the oldest age group have bigger wealth and income compared with those in the youngest group, median wealth of older Americans have dropped to 20-year low since 2010, according to a report from the Federal Reserve. The findings suggest that while stock and housing markets were rising, both wealth and income fell for Americans aged 45 to 64. And the percentage of 55-year-olds to 64-year-olds who filed for disability or retirement rose from 27% in 2010 to 29% last year, the report says. The findings suggest that it could be more difficult than before for older workers to have a comfortable life in retirement.  

Do retirees need long-term care insurance?
Many financial planners advise their clients to include long-term health care insurance in their retirement plans as the heath care cost could be an enormous burden, according to this article in USA Today. However, such coverage is not for everybody as the need may depend on individual circumstances. Since long-term care insurance can be too pricey and may not be used in the future, more clients prefer a single premium life insurance policy with a long-term-care rider so that their families can get the paid premiums back if they die without having used it.  --USA Today

Where to put a spare $100,000
Clients who have extra $100,000 to spare for retirement investing may build a portfolio that equally allocates the assets to three investment types: stocks, medium-term bonds, and inflation-protected bonds, according to this article on Forbes. Such a portfolio is resistant to market crash and the strategy is easy to implement. A deferred annuity is also another good option for those with extra cash on hand, since people are likely to have a long retirement and the heirs can get the invested money back in case the client dies.  --Forbes

When it comes to claiming spousal benefits, timing is everything
A client is not advised to file for Social Security benefit when he turns 62 so his wife receive spousal benefit, because his benefit would be 25% less than what he would get if he waits until 66, according to this article on Time Money. He cannot also file for and suspend his benefit as such a strategy is allowed only for those who reach their full retirement age. The client should wait until 70 to receive the maximum benefit value but if the couple urgently needs the benefit, he may file for early retirement and suspend his benefits for up to four years when he turns 66.  --Time Money

Are you healthy enough to delay retirement?
Clients who plan to work after they retire need to keep themselves healthy to be able to carry out their plan, according to an article on CBS Moneywatch. Most seniors are healthy enough to continue working based on a study by experts from RAND, University of Illinois, Stanford University and University of Southern California. Another challenge for retirees who intend to remain at work is whether there will be available job opportunity for them, given the issues involved.  --CBS Moneywatch

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