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

John Bogle on why your retirement plan stinks

The management fees that retirement investors pay for their stock investments can eat away most of their yields, according to Vanguard founder John Bogle. Retirement savers can make sure their investment will grow if they reinvest the dividends they receive. "We eat up all of our dividends with stock expenses," says Bogle, adding that the "industry you could easily say doesn't give a damn." –MarketWatch

What you must know about Medicaid and long-term care

People usually qualify to receive Medicaid benefits if they have low income and no assets to support them financially, although others are eligible for Medicaid after paying for a nursing home, according to an article on Kiplinger. Seniors who are unable to cover their long-term-care expenses need to know the Medicaid rules, which can be complex and differ in every state. Under the rules, people in need of long-term-care services are entitled to get Medicaid if their savings, retirement accounts and other "countable" assets are less than $2,000. –Kiplinger

2 men save same, end up $234K apart

Retirement investors who started saving at the same age and had the same savings rate and strategy ended up with different sizes of nest egg, according to this article on USA Today. This is because one of them who ended up with a smaller nest egg retired right after the worst bear market in 2009 while the other one who received bigger outcome retired in 2013 when his investments had recovered from the market drop. This is a reminder for investors that the stock market is a fair-weather friend and that they should continue working longer if the market crashes at their retirement date. –USA Today

How to spend your money in retirement the intelligent way

Retirees need to develop a plan on how to spend their retirement savings to ensure they get the most of their nest egg and their money will last through their golden years, according to an article on Mainstreet.com. To develop an effective plan, they are advised to seek help from a financial advisor and consider using the bucket system approach to managing their assets. Clients need to start planning as early as possible to make it easier for them to determine what lifestyle they intend to have in retirement and what strategy to use to realize their goal. –CBS Moneywatch

How much should a young worker save for retirement?

While it's difficult to determine the amount young workers need to set aside for their nest egg, experts recommend that the reasonable retirement saving rate is 15% of an individual's income, according to an article on CNNMoney. Those who can afford the recommended rate may start with 10% and subsequently increase the rate over the years until they reach 15%. They should also take advantage of the 401(k) plan, as their employer may boost their savings by matching their contributions. –CNN Money

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