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

A deferred-income annuity may help get more cash later
Clients who intend to buy an annuity are advised to consider a deferred-income annuity if they need no immediate income stream and want bigger payouts at a scheduled time in the future, according to MarketWatch. A DIA is a good option if they want to ensure they have income to cover their needs throughout retirement and don't want to outlive their nest egg. However, clients need to consider their life expectancy before making a decision and get a cash-refund policy so their loved ones can inherit the money in case they die before the payouts start.  --MarketWatch

Medicare, Social Security and health savings accounts
Clients are not allowed to decline Medicare Part A once they start collecting Social Security retirement benefits, according to Kiplinger. They also need to stop contributing to their health savings account as soon as they sign up for Part A as they will be subject to a penalty for the excess contributions. Those who fail to take Medicare Part A at a qualifying age need to stop making HSA contributions six months before applying for Social Security since Part A benefits will be retroactive for six months.  --Kiplinger

How a better FICO score leads to better retirement
Having a high FICO score will help clients save more and boost their retirement prospects, according to this article on Nasdaq. For example, a client who has a FICO score within the 700s range can expect to get a 3% interest rate on a $350,000 home loan and pay $145,174 less in principal and interest than when he or she gets a low FICO score and is given a 5% interest rate on the loan. Such savings could translate to additional $405,090 in retirement funds.  --Nasdaq

Why taxes, not fees, are retirement savers' biggest enemy
Although the new rules for financial advisors will increase transparency about the fees they charge their clients, retirement savers should focus more on the tax consequences of their investing decisions than these fees, an expert says. "That’s where people lose their money, on all those taxes on the way out,” says the expert. Also, doing a Roth conversion is also a smart move since they "will be better positioned if [they] could have something tax free later when [they] need it most.”  --Fox Business

Understanding the tools in your retirement income toolbox
Clients should learn how to make the most of the various retirement income tools to better manage the risks in their investment portfolio, according to this article on Forbes. These tools include systematic withdrawals, holding individual bonds to their maturity, as well as traditional pensions and annuity products. Know more about these and other tools and how they can use them for maximum returns from their investment portfolios.--Forbes

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