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

How early retirees are different from the rest of us

People who decide to retire early share common traits that others don't have, such as having a happy marriage, knowing how to appreciate what they have, and following their parents' example, according to a study by Allianz Life. Clients need not be born into a wealthy family to be able to afford an early retirement, says Allianz Life's Katie Libbe. "The people that plan to retire early did just that. They made it a priority. They made it a plan." –CNBC


A better way for clients to tap retirement savings

Retirees may consider the "dynamic withdrawal strategy" when tapping their savings without outliving their nest egg, according to an article in The Wall Street Journal. The approach will allow retirees more flexibility by taking more than the 4% withdrawal rule that retirement experts recommend. However, retirees who use this strategy will need to reduce spending during a year their portfolio's value dwindles. “There is no free lunch,” a financial adviser says. –The Wall Street Journal


Two big ways clients can enrich their 401(k) plans

A recent Supreme Court ruling involving a 401(k) plan dispute shows that workers can push their employers to improve the features of their retirement plans, according to this article on Forbes. One way plan participants can do is to oblige their employers to look for low-cost investment options to put the fees at a minimum. Also they can ask their companies to find ways to lower management fees. –Forbes

Your retirement or your life

Integrating investments, income annuities and whole life insurance in retirement income planning can lead to bigger earnings and legacy compared with a investment-only approach, according to a recent paper by Wade Pfau, a professor at The American College for Financial Services. Know more about the strategy as Pfau explains how income annuities and life insurance complement to boost retirement income and legacy. The proper allocation for investments, income annuities and whole life insurance is also explained. –MarketWatch

Here’s the unsettling truth about the retirement crisis

As many retirement surveys yield disparate results, studies based on self-assessments are not reliable in gauging the people's financial prospects in retirement, according to this article on Time Money. What is more apparent is that retirement saving could be difficult for low-wage earners who have no access to 401(k) plans, a reality that prompted the Obama administration to create the MyRA plan. Solid facts on savings and investing trends reflect a more accurate picture of retirement than self-assessment results. "Feelings are real, but numbers speak volumes," the article ends. –Time Money

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