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

When it pays to file early for Social Security
Although delaying Social Security retirement benefits is a smart move, claiming the benefits early is not bad provided seniors really need the money. Some retirees may be better off claiming their benefits early if they are younger than their spouse and expect a shorter life span because of a serious medical problem.  --Time Money

Basics about annuities clients need to know
Although annuities are difficult to understand, sellers focus more on consummating the sale instead of educating seniors who buy these products. Therefore, those who intend to buy need to know certain key concepts, such as withdrawal rate, income base, living benefit and roll-up rate. Premium bonus, surrender fees, crediting options and investment returns are other terms for prospective annuity buyers to learn. Read more key terms including their definitions to better understand annuities.  --MarketWatch

Clock ticks for Medicare enrollment
Older investors are reminded in this article to take the opportunity of making necessary changes to their health plan coverage during Medicare's annual open enrollment period, which ends Dec. 7. “Invest your time now in the remaining days. It will pay you dividends and aid you to access better health care in 2016,” says Robert Quinlan, managing member of Quinlan Care.  --Fox Business

Business owners may be better off with Solo 401(k) than SEP IRA
A solo 401(k) can be a better retirement saving option than the Simplified Employee Pension Individual Retirement Arrangement or SEP IRA for self-employed and business owners. Business owners can reach their maximum contribution amount faster with a Solo 401(k), which also offers catch-up contributions, unlike a SEP IRA. A Solo 401(k) plan can be held in pre-tax, after-tax or Roth formats, offers tax-free loan option and allows clients to use a non-recourse loan without being subjected to the Unrelated Debt Financed Income Rules and the Unrelated Business Taxable Income.  --Forbes

How much clients gain in Social Security by working longer
Although the workers' average lifetime income rises with an additional dollar of earnings, their primary insurance amount may increase or remain the same despite the increase in income, writes Jonathan Guyton, a principal at Cornerstone Wealth Advisors. The PIA is the average of the highest 420 indexed monthly earnings, which is the basis of their retirement benefit at their full retirement age. "Working more never lowers your Social Security benefit.  It just may not increase it or – more likely – may not increase it very much."  --The Wall Street Journal

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