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

Start now: A step-by-step, tough love guide to saving for retirement in your 20s

Young workers need to realize that saving early for retirement means they need less to save because they have a lot of time to let their money grow on market gains and compounding interest, according to this article on Forbes. While they are young, workers are advised to set aside 10% of their annual income, take advantage of their employer's match contribution to their 401(k) plan, and hold a Roth 401(k) or Roth IRA. Young investors are also advised to pick target date funds with reasonable fees, and contribute the maximum limit to your retirement accounts. – Forbes

Surprise: Retirees aren’t that vulnerable to fraud

Retirees are less likely prone to financial scams than what most people think, according to a study by professors at the University of Waterloo in Canada. The number of fraud reports decreased after the age of 54, with the lowest level of fraud reported among the oldest age group based on survey data by the Federal Trade Commission in 2004, 2007, and 2013, the study finds. In resisting fraud, cognitive ability is not as important as experience gained through the years by retirees, who engage in less risky financial behavior and dismiss too-good-to-be-true investments, according to the researchers. – MarketWatch

4 questions to ask before retiring overseas

Clients need to know the factors that motivate them to retire abroad before they finalize their decision, according to this article on CNNMoney. They should also determine if they have sufficient savings or steady monthly income to cover incidental or unforeseen expenses. Another consideration is access to affordable health care in the target location, and tax obligations, which can be complicated and costly for those who decide to move abroad. – CNNMoney

3 little mistakes that can sink your retirement

An unrealistic rate of return may appear to be a minor mistake in retirement planning but could prove very costly for retirees, according to this article on Time Money. Another mistake that clients make when planning for their golden years is including their salary from a retirement job. While taking retirement benefits early from Social Security is possible, such a move could be wrong as it would reduce the value of their monthly benefit. – Time Money

4 ways to save for retirement that won't devastate your paycheck

Building a side business is one way workers can do to save for retirement without stashing too much money from their salaries, according to an article in U.S. News & World Report. Workers may also consider late retirement as people are expected to live longer, and take advantage of their employer's match contributions to their 401(k) plans. Investing in things that increase in value over time can also be a very good option for workers who want to become less dependent on their take-home pay in building an adequate nest egg. – Yahoo Finance

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