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

Why most retirement-income plans lead to over-saving and over-working
A study found that spending in retirement declines over the golden years, so retirees should reduce their withdrawal rates over time to reflect this reality, writes a financial advisor. They should consider dynamic safe withdrawal strategies instead of using static, fixed approaches. Actual spending patterns in retirement combined with dynamic spending policies mean that people can enjoy sustainable lifestyles with higher incomes, lower asset totals and/or earlier retirement dates, according to this guest article. --The Wall Street Journal

The big misconception that can sabotage retirement
It is a mistake for people to think that investing is more important than saving in securing a comfortable life in retirement, according to this article in Money. It is because saving is a more secure way of building wealth since people have greater control over the amount of money they can save than the investment returns from their savings.  --Money

Last call for file-and-suspend
Some seniors have until April 29 to use the file-and-suspend strategy when claiming their Social Security benefits, according to MarketWatch. Under a new law, seniors aged 66 to 70 are still subject to the old rules, allowing them to use the strategy to maximize their benefits. Those who miss the deadline will still be allowed to suspend their benefits, but Social Security will terminate and disallow spouse and children benefits on their records.  --MarketWatch

Prepare your clients' portfolios for a downturn
Investors are advised to set up their retirement portfolio in such a way that it can mitigate the impact of a market downturn, writes a financial advisor. The asset allocation should consist of 20% cash, 30% for strategic buy-and-hold, 20% for monthly relative strength system and 30% for quarterly relative strength system, the expert writes. "While there is no way to prepare for every possible outcome, this allocation accounts for the big unknowns."--Kiplinger

The biggest financial surprises for new retirees
Supporting an ailing parent is one of the major financial burdens that people do not expect to have after they retire, according to CNBC. People may also acquire a vacation home for family and friends, but rarely will they use this property. Also, their children may lose their jobs and experience money issues, creating an additional financial burden to them.  --CNBC

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