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

It’s time to rethink asset allocation

Retirement savers need to review their asset allocation and make appropriate changes because many asset classes are closely interlinked as the global economy increasingly becomes "so intertwined," writes Ted Jenkin, co-CEO and founder of oXYGen Financial. "We need to think more broadly about how buckets of allocation of your money can work as you think about retirement," Jenkins writes. Their portfolio may be divided into three buckets -guaranteed income bucket, fixed income-producing bucket and growth investment bucket, the expert suggests. –The Wall Street Journal

The gender pay gap haunts women in retirement too

Based on data from the National Women’s Law Center, a female worker working full-time for 40 years incur $435,480 in lifetime income losses as a result of wage gap, according to Money. As such, female workers get lower Social Security benefits and pension payouts, since these are based on income. “When you put together all these factors, it’s not a surprise that women are left with greater economic insecurity in retirement than men,” says NWLC Senior Vice President Fatima Goss Graves. –Money

How to remain living at home in old age

People need to develop a plan about where they will spend their golden years, writes Wade Pfau, professor at The American College and principal with McLean Asset Management. Those who opt to age in place need to renovate their home to make it more conducive to their physical or cognitive limitations, Pfau writes. "For those moving, the focus can shift to finding a new home with the necessary renovations already in place, and also to finding a community where many types of care are readily accessible." –Forbes

5 reasons to consider a MyRA account

MyRA is a good option for workers who want to start building their nest egg but have no access to workplace retirement plan because their contributions will be guaranteed by the FDIC, according to NerdWallet. They will also pay no trading fees and broker commissions when contributing to MyRA, which also has no minimum contributions and loss in share value. Clients can easily sign up for MyRa and withdraw their funds anytime they want without penalty. –Nasdaq

Tips to withdraw wisely from a nest egg

Retirement savers are advised to build a "guaranteed income floor" that includes Social Security and annuity payments without connection to the stock market to cover their basic needs in retirement, says Dan Keady of Teachers Insurance and Annuity Association – College Retirement Equities Fund. Social Security is a major component of retirement planning, so they need to weigh their claiming options when planning the best drawdown strategy, Keady says. "When you elect to start Social Security, how you coordinate benefits with your spouse’s election can have a profound impact on your income plan." –Fox Business

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