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

What clients need to know about negative interest rates
Retirement savers should brace for lower returns and keep their investment portfolio well-diversified amid low or negative interest rates in the global markets, according to MarketWatch. The trend should not be a cause of alarm for retirees, since it may prompt an influx of foreign capital in the domestic markets for better relative returns. Banks also are unlikely to impose a fee to retirees depositing their Social Security checks as this could severely affect their profitability.  --MarketWatch

Considerations before taking Social Security early
Seniors who intend to start collecting their Social Security retirement benefits early have 12 months to withdraw their application if they change their mind, according to the personal finance website Motley Fool. (In the past, retirees could withdraw their applications at any time, provided they paid back all the benefits they had received up to that point.) Delaying retirement benefits can boost the monthly payout, which is especially key now that recent changes to the program have scrapped other incentives for deferring benefits, such as file-and-suspend.  --Motley Fool

Why Social Security is a great deal for high earners
Life expectancy is on the rise, but people in high-income groups tend to live longer compared with low-income earners, according to a report from the Government Accountability Office. Also, Social Security benefits that low-wage workers receive are 11% to 14% lower than the average, while retirees in high-income groups get 16% or 18% more, the report says. This is because high-wage earners tend to delay their retirement benefits to boost the value, while those in the low-income group start collecting their benefits at an early age of 62.  --Money

How to avoid retirement rip-offs
Although the federal government has announced new rules to impose a fiduciary standard on financial advisors offering investing guidance on retirement accounts, customers may still get advice that is not in their best interest, according to CBS Moneywatch. It's because the rules will be in full effect starting 2018. Retirement savers can protect themselves by picking options they completely understand, read the contracts and ask about any terms confuse them. Also, they should be wary of advisors offering freebies, like free meals.  --CBS Moneywatch

Keeping health care costs down in retirement
Generic medicine helps retirees reduce their out-of-pocket drug expenses to a minimum, according to CNBC. Retirees also can lower out-of-pocket expenses on drugs by shopping online, comparing prices and take advantage of coupons and discounts. Retirees can minimize their drug take by staying fit and leading an active lifestyle.  --CNBC

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