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

Not too late for Gen Xers to save for retirement
Gen X workers, who were badly affected by the recession, can still recover from the setback and achieve their goals for retirement security, according to a report from the Transamerica Center for Retirement Studies. A majority in this age group believe that building a nest egg is more difficult for them than for their parents, with 24% of them claiming that retirement saving tops their list of financial priorities, the report says. Despite Social Security's financial woes, Gen Xers would still receive more than 75% of their retirement benefits, provided Congress makes a few necessary changes to the program along the way. But clients are advised to boost their savings rate, keep healthy and avoid taking money from their retirement accounts ahead of time, according to the article.  --CBS Moneywatch

Applying your fantasy football skills to your retirement savings
Fantasy football offers invaluable principles that clients can use in retirement investing, according to this article on Forbes. One of the concepts that investors can learn from fantasy football is standard deviation, which can be applied to monitor the discrepancy between their investment holdings and other options within their plan. Fantasy football also teaches the importance of hedging, which investors need to do to prepare for a negative event in the market. Those engaged in fantasy football also learn to be socially responsible, a trait that investors may consider as their investments say a lot about them.  --Forbes

7 fatal flaws in America's 401(k) plans
Most workers do not fully benefit from 401(k) retirement plans available to them because access to the best investment options is restricted, participation is not required, and employer match can be insufficient, according to this article on MarketWatch. Some 401(k) plans also do not offer a rollover IRA option while continuing to contribute to the company plan, there is plenty of company stock, and default options are too safe for the participants.  --MarketWatch

3 simple steps will protect you if there’s a market meltdown
As the stock market is likely to crash again at some point in the future, investors can get ready by getting to know their appetite and tolerance for risk, according to this article on Time Money. They should also adjust their investment portfolio in a way that it can sustain the amount of risk they can take and has the right combination of stocks and bonds for their investment goals. After having done all that, clients are advised to stay put and resist the temptation of making major changes to their portfolio.  --Time Money

Want help with the big Social Security decision?
Social Security rules on retirement benefits can be complicated, so workers who need to know the right time to start receiving benefits may consider getting advice from financial planners, according to an article on Morningstar. Clients may also go to companies that provide a personalized filing strategy, while there are also free online tools that can be used if they opt to do the planning on their own. Learn more about hiring financial planners and the use of online tools when planning for the filing of the retirement benefits.  --Morningstar

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