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

The smart way to choose a retirement community

Senior community placement service firm A Place for Mom has unveiled the results of its pricing survey of communities covering 20,000 residences around the U.S., according to this article on Time Money. They survey finds that independent living communities normally cost $2,520 per year while assisted living charge $3,823 on average annually. Those who want to stay in memory care communities usually face $4,849 every year. –Time Money

Price tag of bipartisan bill averting Medicare doc fee cuts

The federal government would lose $214 billion under a bipartisan bill aimed at blocking proposed reductions to fees for charged by physicians to Medicare patients, according to an analysis by the Congressional Budget Office. The bill would make invalid a 1997 law that wants a new payment system for Medicare doctors, costing the government about $175 billion. Some $38 billion would also be lost from a costly Children's health Insurance program, an extension of the expiring Medicare payments and a move to make other health programs permanent, CBO says. –The New York Times

How much are you losing to 401(k) fees? You'd be surprised

401(k) participants may be losing more from management fees on their investments than what they already know, prompting the federal government to propose imposing fiduciary standard to brokers and financial advisors, according to this article on CNBC.  It is because they are also paying hidden fees aside from the fees that brokers charge them. "The vast majority of individual investors, even high-net-worth investors, haven't the slightest clue as to how much they are forking over," an expert says. "I thought I knew the various fees, but ... I realized there were more layers to the onion." –CNBC

3 ways to guarantee retirement income for life

Clients who want to start receiving fixed income immediately when they retire may consider buying an immediate annuity, according to this article on Kiplinger. A deferred-income annuity is another option for clients who want to have a steady income stream in advance years and leave some assets to their families after their death. 401(k) participants and IRA investors are allowed under a new Treasury rule to invest as much as 25% of their assets to a "qualified longevity annuity contract". –Kiplinger

Keys to the best retirement for you

Clients need to determine what motivates them to retire, as it will help them plan more effectively for retirement, according to this article on MarketWatch. They also need to ask themselves about the most important things they need to accomplish by the time they intend to retire and before they die. Knowing their best time in each of the four retirement phases as well as plans their spouses have will also be a big help to plan for their golden years. –MarketWatch

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