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

The secret to building a bigger 401(k)
401(k) participants who get help from financial advisors have clearer financial goals compared with those who receive no advice from a professional, according to a study. Employees working with financial consultants also have higher savings, contributing 9.5% of their annual pay to their retirement plans, compared with 7.8% by workers without advisors. Also, 75% of 401(k) participants who receive financial advice claim they are aware of the balance they expect to have when they retire, while only 50% of those who have no advisors claim the same.  --CNN Money

Changing jobs? What to do with an old 401(k)
Clients are usually advised to roll over their 401(k) money from their previous employer to an IRA, which has more investment options and lower management fees compared with a 401(k) plan, according to this article on Forbes. With an IRA, clients can opt for low-cost index funds, invest active mutual funds or exchange-traded funds, or include individual stocks in their portfolios. Read about the factors that clients need to know before rolling over their 401(k) assets to an IRA so they won't commit any costly mistakes.--Forbes

Why it’s so difficult to raise kids — and save for retirement
While the enormous cost of raising children prevent many couples from building their nest eggs as early as they can, they need to realize that retirement saving is just as important, according to an article on MarketWatch. People who don't have a financial plan for handling the education and other expenses of their children are unlikely to save for retirement. Couples who want to engage in financial planning can get help from a financial advisor or use online resources, but those who defer it should recognize that their retirement could be in jeopardy.  --MarketWatch

3 things to know about your 401(k)’s escape hatch
Brokerage windows in 401(k) plans widen the participants' investment options but may come with extra costs and increase their risk exposure. While 401(k)s are known for limited investment options, these windows give the person access to a brokerage account, which allows them to invest in wide variety of funds that aren’t part of the plan’s regular menu. The number of plans offering brokerage windows increased to about 40% last year. They can be useful if the investment options made available can meet the participants' requirements, but participants should determine whether the potential benefits offset the fees before using a brokerage window in their plans.  --Time Money

Need Social Security advice? Don't just go to the obvious source
While the Social Security Administration provides useful information about retirement benefits, retirees must be aware that SSA agents are not authorized to offer advice on how to maximize their benefits, according to an article on Motley Fool. The advice that retirees may receive from these agents can also be wrong and may have undesirable consequences. Clients are advised to get advice from financial-planning companies and certified financial planners who have adequate experience in handling Social Security issues.  --Motley Fool

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