30 Days 30 Ways To Maximize Retirement Assets

Planners should emotionally prepare clients nearing retirement for the significant and abrupt changes that will occur after working full time for decades.

The speed of converting funds from a traditional to a Roth IRA depends on the tax implications, as well as the client’s age, health, need of funds and estate planning considerations.

Advisors can help clients ease into retirement by following five steps.

Working longer and deferring account withdrawals is a great untapped strategy with no downside.

When clients face financial responsibility for aging parents and children at the same time, they often lose focus on their own retirement needs.

Advisors who highlight fee transparency gain an advantage.

Clients’ health concerns may trigger a re-assessment of retirement plans and raise a wide array of emotional and financial questions

Some think they should if it interferes with their retirement plans, but others say it isn’t their place.

Deferred–tax retirement accounts’ required mandatory distributions might prompt this unwelcome scenario.

Deferred–tax retirement accounts’ required mandatory distributions might prompt this unwelcome scenario.

Even those with significant health issues may never need to pay for nursing home care.

Advisors could get additional business consulting individual employees within MEPs.

A bear market near the start of retirement can speed portfolio depletion.

Studies show that those who continue working into retirement are healthier, both physically and mentally, than those who quit.

Advisors should be aware of the pitfalls in advising clients to retire in other countries.

Adult children’s money needs can threaten retired parents’ financial security.

Advisors are even better than travel agents at helping retirees attain their vacation dreams.

Here are not-so-common ways to help clients save more.

Some clients are wary of LTC insurance that they might never need, but combos offer flexibility.

Advise both pre-retiree and retiree clients on a strategy to minimize the tax bite.

Retired couples may qualify for untaxed dividend income and long-term gains.

IRA owners who aren’t sure how heirs will handle the money could name a trust as beneficiary.

Clients won’t experience retirement like others in the past, but advisors can help them surrender retirement expectations.

Advisors should tell parents that this may not be in the entire family’s best interest.

TDFs are great for many young employees, but they aren’t for everyone.

HSAs offer deductible contributions, untaxed investment earnings and tax-free distributions.

High-income clients pay more -- perhaps much more -- for Medicare Part B coverage.

Advisors who highlight fee transparency gain an advantage.

Help clients protect what has taken them a lifetime to accumulate.

If clients have too little saved for retirement, advisors can help them budget better.