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

The difference in retirement portfolios for female and male CEOs

A recent report from the Institute for Policy Studies and the Center for Effective Government indicates that not only do the top 100 CEOs have about the same worth as the retirement savings of 41% of households, but there is also a wide gap in retirement funds between male and female CEOs, according to this article on Washington Post. The 10 largest retirement portfolios owned by white male CEOs amounted to $1.4 billion while the 10 biggest retirement portfolios owned by female CEOs totaled just $277 million, the report says. "It jumped out at us because it mirrors what’s going on with women and minorities in the rest of the population," says one of the researchers. –Washington Post

The best places to retire abroad — with friends

Clients who opt to retire in another country need to consider moving to a country with an established expatriate community to easily adjust to the local norms and find people who speak English and share the same interests with them, says Kathleen Peddicord, editor of Live and Invest Overseas. Algarve, Portugal, Cuenca, Educador, and Ambergris Caye, Belize, are on the list of top 21 retirement destinations based on Peddicord’s retirement index that accounts for the strength of the expat communities, including factors, such as climate, health care and cost of living. Dumaguete, Philippines, Barcelona, and George Town, Malaysia also make it to Peddicord's list. –MarketWatch

How 401(k) fee disclosure statements can save your clients money

Retirement investors can save considerably on their investments with the help of their annual 401(k) fee disclosure statement, according to this article on U.S. News & World Report. The statement allows them to determine the costs of their investments, identify the high-cost funds to avoid and make a cost comparison within asset classes. With the annual statement, clients also will know that they cannot expect to get the same returns again and they can determine 401(k) decisions that result in additional fees. –Yahoo Finance

Why your clients should target retirement income instead of retirement savings

Instead of focusing much on retirement savings, clients are advised to set a retirement income target as what more financial planners are doing, according to this article on Time Money. Pursuing a retirement income target is more feasible than achieving the amount they intend to save for their golden years. Also, setting a savings target leads clients to make wrong moves, such as underestimating longevity and overestimating their savings. –Time Money

Retirement savings bonus: How to avoid overpriced annuities

Clients who consider annuitizing a portion of their retirement funds to secure a lifetime income are advised to get an immediate annuity, according to this article on Forbes. Immediate annuities are simple products that offer fixed payments, unlike other annuity products that charge hefty fees and costs. They may also get a "joint and survivor" annuity to insure their spouse and go directly to annuity sellers offering "no-load" products to get more benefits for less the cost. –Forbes

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