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

Here’s how Americans are eating into their savings

Forty-four percent of workers receiving over $75,000 yearly fail to save for retirement because of their spending on "lifestyle purchases," according to a survey by HarrisPoll. Nearly one-third of the respondents also claimed that there are times that they are living paycheck to paycheck although government data show these respondents earned 1 1/2 time the median household income in 2011, according to the survey commissioned by SunTrust Banks. Also one-third of those polled claimed they fail to meet their goals because of “a lack of financial discipline,” the survey finds. –MarketWatch

Tips on drawing down your retirement funds

Retirees face the risk of outliving their nest eggs because of longer life span, unwise spending and lower investment returns, according to this article on USA Today. To avoid draining their retirement savings, clients may consider a multiple-bucket strategy to cover their living costs for two years without tapping their savings. They also need to have a plan on spending and account for the tax consequences of their withdrawals from their retirement accounts. –USA Today

Why retirees should consider investing abroad

Retirees may consider investing in overseas markets if they want to diversify their portfolio and include performing companies in their investments, according to this article on Morningstar. Many retirees claimed that foreign markets offer equities that are priced attractively, while others said that putting up a U.S.-centric portfolio doesn't bode well for investors. However, many retirees opt to stick to their U.S. investments, with one retiree saying investing overseas is an option only for the "adventurous" ones. –Morningstar

10 easy ways you can save an extra $1 million for retirement

There is a $14 trillion gap between the amount that Americans have in their retirement savings and the amount they need to save to secure their golden years, according to a study by the National Institute on Retirement Security. Those who fear they have not saved adequately for retirement need to save aggressively. Read the 10 easy tips for clients who need a lot of catching up to do in retirement saving. –The Motley Fool

Social Security Q&A: If we're both on disability, can I collect on my ex's record?

A client can start collecting excess spousal benefit on her husband's record at 62 after filing a divorce if they marriage lasted at least 10 years, according to this article on Forbes. However, the spousal benefit may be lower than expected because she files for the benefit before reaching her full retirement age. She may also receive survivor benefits if her spouse dies before the divorce and may also collect the same after they are divorced and they have been married for 10 years or more. –Forbes

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