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

The long-term consequences of student loans
Clients who have $30,000 in student loan debt would have missed as much as $325,000 in investment opportunities in their 401(k) plans, based on data from LIMRA. Young workers have better retirement prospects if they contribute to defined benefit retirement plans, but such a program is accessible only to 10% of workers below 30, according to LIMRA's Secure Retirement Institute. "With Gen Y being in defined contribution plans, the time for them to really get ahead is in their 20s and early 30s, but if they have a huge student loan, they really can't do that," said Michael Ericson, an expert with the institute. –CNBC

The one money move to make before the end of the year
The year-end is the best time for retirement investors to review their asset allocation and rebalance if the allocation has changed by at least 5 percentage points. Rebalancing does not necessarily mean selling as investors may "just buy more of the losers," an expert says. Also, investors need to ensure they put the most suitable investment in every account. For example, tax-inefficient investments, such as basic bonds should be placed in 401(k) or other tax-advantaged accounts. –Time Money

Can clients file at 81, recoup lost Social Security?
A retiree who worked full-time until the age of 81 and never filed for Social Security benefits at age 70 may no longer be able to retrieve the benefits he should have received over the last 11 years, according to this article in Bankrate. Retirees can file for up to six months of retroactive benefits after their full retirement age, according to the Social Security Administration. However, SSA may allow more than six months of retroactive benefits if the retiree meets certain requirements and established a protective filing with a written statement of intent to file. –Yahoo Finance

How divorced women often get hurt when dividing retirement assets
Women who are going through a divorce are advised to be extra careful with how they will divide their retirement assets with their soon-to-be former spouses, writes Stacy Francis, president and CEO of a fee-only wealth management and financial planning firm Francis Financial. Female clients should pay particular attention to a Qualified Domestic Relations Order, a legal instrument used to divide assets in their retirement accounts that are under the Employee Retirement Income Security Act, Francis writes. "QDROs are fertile ground for mistakes." –The Wall Street Journal

Retired? How much money should clients keep in stocks?
While asset allocation is essential in a retirement income plan, experts differ in recommending the best mix of stocks and bonds in a retirement portfolio. Many retirees use the "static" asset allocation method, which distributes 40% and 60% of assets among stocks or bonds, while others opt for the "glide path," which allows them to start with 50% or 60% of assets in stocks and gradually shifting to bonds until they reach a 30% stock-70% bond mix. Another strategy is the reverse of the glide path called "rising equity" method, in which allocation in stocks starts with 30% and gradually increasing it to 70. –CNNMoney

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