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

4 questions everyone must ask their retirement advisor
Hiring a retirement advisor is a smart move for clients who want to start planning for the golden years, according to this article on Forbes. When screening applicants for the role, clients need to ask these applicants about the way they would provide value as a retirement advisor and determine if they provide comprehensive retirement planning. Also clients need to ask the applicants if they have received education and training on financial planning and know their preferred mode of compensation.  --Forbes

How to create tax-efficient income in retirement
Investors need to develop a tax-efficient strategy in tapping their nest egg to ensure they won't outlive their savings, according to this article on USA Today. "Too many investors focus on picking great funds without understanding how tax-efficient the fund really is, or how to generate income in a tax-efficient manner in retirement," says David Blanchett, who heads Morningstar's retirement research. Read the general rule of thump and other tips on how retirees can build a tax-efficient investment portfolio.  --USA Today

Why are states leaving billions in retiree income on the table?
Many states are exempting seniors from paying income tax but it's mostly the affluent segment that is likely to gain from this tax break, according to this article from Reuters. Imposing an income tax on senior citizens may be a good move for cash-strapped states to address their deficit, but the measure should be designed in a way that would not affect the vulnerable retirees. "The scales would vary state to state. But [it's] a test that makes sure taxation isn't a blanket giveaway with most of it going to the most affluent households," says Meg Wiehe of the Institute on Taxation and Economic Policy.  --DailyFinance

Retiring well? Not most baby boomers
Only 60% of baby boomers polled by the Insured Retirement Institute claimed they have saved for retirement, down from 80% in previous years, according to this article on CNBC. Also the number of the respondents who voiced confidence they would have adequate nest egg decreased to 27% this year from 33% in 2011, the survey finds. "Many boomers are probably realizing, 'Yikes, it's up to me.' They're probably asking themselves, 'How can I make this money last?' Unfortunately, for many of us I think the answer is 'I'm not so sure,'" says Cathy Weatherford, president and CEO of the institute.--CNBC

Don’t get suckered by a low down payment
Retirement investors are advised to pay at least 25% down payment when buying a property instead of accepting promos from real estate companies that offer a lower or no down payment, according to this article on MarketWatch. Property buyers who have paid a substantial down payment can get a high-ratio mortgage, private financing against their equity or a line of credit from a bank if they face a financial crisis. These privileges could be inaccessible for those who paid a small down payment, as they would hardly have equity in their properties if the market fumbles.  --MarketWatch

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