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

3 money mistakes to avoid once you reach full retirement age
After reaching retirement age with sizeable nest egg consisting of 401(k) plan, Roth and traditional IRAs and taxable accounts, clients should have a tax-efficient withdrawal strategy to tap their savings, according to Motley Fool. Those who consider making a major property investment such as a recreational vehicle or a second home may consider renting one first before buying one. Retirees also need not transfer all their assets to bonds and other safe investments, meaning they have to keep some of their risky investments, such as high-quality dividend stocks, which have a high potential of producing the needed income.  --The Motley Fool

For retirement-- or any savings goal---be self-centered
For most people, the search for personal fulfillment is a major motivating factor to save for retirement, according to a study by a researcher with Ohio State University. "The willingness to save for individual desire can be a more important motivation than from a sense of duty (such as future uncertainty) or supporting one's family," the study finds. "Our findings showing a positive relationship between more personalized saving goals and saving likelihood can be used to improve household saving behaviors."  --DailyFinance

A trifecta of Social Security benefits
While many people are entitled to receive their own retirement benefit or spousal benefits, some clients are even qualified to get three types of benefits, according to this article on MarketWatch. Read how a client becomes eligible to claim benefits as a worker, a spouse and a divorcee and what she did to maximize her benefits. When claiming retirement benefits, clients are advised to ask the Social Security Administration if they are entitled to more than one benefit and if they would benefit from shifting to another payment in the long term.  --MarketWatch

Four moves that will make your house a great place to retire
Clients who intend to retire in their current home are advised to start making the improvements that will meet the requirements associated with old age, according to this article on Time Money. They may begin with easy-to-do upgrades, such as raising electrical outlets and better outdoor lighting. Some clients also will need to make major changes, such as transferring the master suite and laundry room to the ground floor. Their budget should account for costs from outsourcing house maintenance tasks and a greater involvement in the community may be necessary to create social support when they reach old age.  --Time Money

Who should write the rules to invest by?
A proposed rule by the Labor Department that would subject financial advisors to fiduciary standards when providing guidance to clients on retirement accounts has met opposition from the professionals who will be most affected, according to this opinion piece in The New York Times. They argued that the department' issuance of the rule before the Securities and Exchange Commission comes up with its own rule would stir confusion. However, this view is flawed, since the commission “has proven itself incapable of moving ahead on the issue" and "waiting for the S.E.C. is even more off point now that the Labor Department proposal is on the table," this opinion piece counters.  --The New York Times

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