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

Turning a saver into a spender in retirement

Transition to retirement means that clients need to shift from being a saver to a spender, and this could pose certain challenges, according to this article in U.S. News & World Report. To navigate through the transition with ease, new retirees are advised to develop a spending plan that accounts for the living costs and activities that will need funding as well as focus on the things that are meaningful and rewarding to them. They may also plan family-bonding activities and create the right system to account for their cash flow. –Yahoo Finance

Labor Department has indexed annuities in its crosshairs

Indexed annuities could be subject to regulations that also apply to variable annuity products if The Department of Labor's proposed fiduciary rules are implemented, according to this article on MarketWatch. This means that indexed annuity agents will be required to comply with higher education standards while advertisements and the overall sales message will be subject to stricter scrutiny. –MarketWatch

Live and Learn: Deep debt late in life

A retired couple shares how they changed their lifestyle to fix their financial woes created by accumulating too much credit card debt, according to this article on CNBC. The couple's situation is not uncommon, as a report from the Consumer Financial Protection Bureau reported shows that "older consumers are carrying more debt, including mortgage, credit card, and even student loan debt, into their retirement years than in previous decades." –CNBC

Tax considerations when delaying Social Security

Clients who want to develop a good tax strategy in retirement have more reason to delay their Social Security benefits, writes Wade Pfau, professor at The American College and principal at McLean Asset Management. By deferring Social Security in retirement, clients will be in lower marginal tax rates, giving them favorable condition to make additional Roth conversions from their IRAs, Pfau writes. This will reduce the amount of required minimum distributions they need to take from their IRAs as well as the potential tax burden these RMDs would create, since the RMDs could push them to a higher tax bracket. –Forbes

Great places to retire in all 50 states

Decatur, Ala., Juneau, Alaska, and Prescott, Ariz., are among the 50 best locations in the U.S. to retire, according to Kiplinger. These places are selected based on factors including retirees' health care and other living costs as well as taxes and preferred lifestyle. The safety and access to quality health care in these places have also been considered. –Kiplinger

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