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

Retirement crisis? There are 3, says Vanguard founder Jack Bogle
The country's retirement crisis is not only limited to Social Security's insolvency issues, says Vanguard founder Jack Bogle in this article on Money. Corporate and government pension plans are underfunded, with some plans having unrealistically high investment returns, while people who contribute to 401(k)s and other defined contribution savings plans face high expenses and other problems, Bogle says. Clients are advised to save aggressively and use low-cost, broadly-diversified investments, he adds.

John Bogle, founder of Vanguard, popularized index funds. Image: Bloomberg
John Bogle, founder of Vanguard, popularized index funds. Image: Bloomberg

Don't let clients miss the deadline to undo a Roth conversion
Retirement savers have until Oct. 17 to undo the Roth conversion they did in 2015, according to this article on Kiplinger. Those who choose a recharacterization can collect the tax payments for the conversion, and they will need to wait for 30 days before they can reconvert the funds. A Roth conversion is recommended if the investments declined in value, the investors are in a lower tax bracket, they are subject to Medicare high-income surcharge, or they owe taxes on a bigger portion of their Social Security retirement benefit because of the conversion.

Help clients crunch these numbers if they're within 5 years of retiring
While many financial advisers recommend people aim for 70% to 80% of their pre-retirement income to estimate their needs, some clients are better off creating a monthly budget, according to this article on MarketWatch. Those who cannot retire on an 80% of pre-retirement income should go “back into a simpler, easier lifestyle, especially if you have no dependents at this point in your life,” says an expert. They may create an initial budget based on the needs that they anticipate to have after retirement, and they should be ready to adjust the budget as they move into their golden years.

Money-saving health care tips for retirees
Couples who are saving for health care expenses in retirement are advised to have the younger spouse open a health savings account, according to this article on personal finance website Motley Fool. Withdrawals are tax-exempt if the money is used to cover qualified medical expenses, and unspent funds can be rolled forward into the coming years, reducing the need to tap into taxable retirement savings. Clients need to prepare for healthcare expenses, as these costs are increasing and they are likely to live longer than expected.