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

When to Buy Long-Term Care Insurance
The cost of long-term care insurance increases with age, but many baby boomers fail to get the coverage early when it is less costly, according to this article on Fox Business. Long-term care expenses rise in retirement to the point of "depleting our assets to a level of crisis," says Jake Lowrey, president of Lowrey Financial Group, adding that retirees are supposed "to have actual golden years instead of what can end up being scary years, both personally and financially."  --Fox Business

How do your clients stack up in savings
Men have bigger retirement savings ($121,000) compared with women ($78,000), on average, according to a survey by Time Money. However, female investors are 10% more likely to participate in a workplace plan and have a higher savings rates than their male counterparts, the survey finds. A majority of the respondents said they intend to set aside a bigger amount of money for retirement this year than last year, the survey also finds.  --Time Money

How couples can maximize Social Security benefits
Couples need to consider their spouse's retirement benefit aside from their own retirement benefit before deciding on their claiming strategy, according to this article from Mainstreet.com. A file-and-suspend strategy is recommended for couples if one of the spouses has bigger earnings than the other spouse. However, such a strategy may not work for couples if "someone has additional income needs on top of the spousal benefits received, and there are no other pensions or fixed-income sources," says Tony D'Amico, CEO of The Fidato Group.--DailyFinance

The right way to roll over your retirement accounts
Clients are likely to roll over their 401(k) plan if they change jobs, or consider an IRA rollover into a Roth account when they are eligible, according to this article on MarketWatch. Those who wish to bring their 401(k) money with them to their new employer are advised to avoid the 20% tax withholding trap or have it in a taxable account instead of rolling into their IRA. Clients also need to transfer the cash into their IRA if they withdraw cash from their retirement plan, and may transfer a portion or all of their IRA funds into their former spouse's account tax-free provided they meet the requirements.--MarketWatch

How to increase your after-tax wealth in retirement
Retirees who are in a lower marginal tax rate can optimize the after-tax value of their assets if they develop a strategy when paying taxes, writes Wade D. Pfau, a professor of retirement income at The American College's Financial and Retirement Planning Ph.D. program. Their tax issues may differ depending on their situation and retirement accounts, writes Pfau. "Thinking strategically about these tax issues can be complex, and so it is important to emphasize that one may wish to consult with a trusted tax professional when developing these plans."  --The Wall Street Journal

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