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

Why you need both a 401(k) and a Roth IRA
While workers are advised to hold a 401(k) plan or a Roth IRA to build their nest eggs, they will be better off if they use both accounts to save for retirement, according to this article on DailyFinance. Workers will be better able to diversify their tax buckets if they hold both Roth and pre-tax accounts, as the benefits of these accounts work to complement each other. Workers who want to hold both accounts may start by taking advantage of their employer's 401(k) match contribution and then strive to max out the contribution to their Roth IRA, which is about $458.  --DailyFinance

Social Security: The best way to analyze benefits
Single retirees age 65 to 69 receive an average of $230,000 in Social Security benefits during their lifetime, with total lifetime benefits for couples amounting to $470,000 on average, according to a study. Instead of looking at how much people get monthly from Social Security, they are advised to consider the total lifetime benefits they would receive. Single workers can boost their Social Security benefits by as much as $70,000 if they start getting their benefits at their ideal age, while couples could get much higher if they also decide to start receiving their benefits at their ideal age, the study finds.--Motley Fool

Finding the perfect balance between work and fun in retirement
Some retirees continue to work while engaging in activities they enjoy doing, according to an article on Time Money. Retirees who also have the same goal need to have an open mind, and they may not have to retire if their work is aligned with their interest. Retirees may also opt to save less if the lifestyle they want in retirement doesn't require a sizeable nest egg.  --Time Money

Many baby boomers plan to move when they retire; and not all are downsizing
Thirty-seven percent of baby boomers polled by the Demand Institute consider moving when they retire, with 46% of these respondents thinking of living in a bigger house or spending more to have the home features they want. The report also says that 63% of baby boomers have no plans of moving and intend to age in place. Although the financial crisis prompted baby boomers to adjust their retirement and housing plans, many of them "haven't abandoned those plans entirely," the institute's Louise Keely said in a statement.--MarketWatch

Will you pay taxes on retirement income? -- You decide
Entrepreneurs may consider creating separate pools of assets as sources of retirement income to have more control over the mode and timing of payment of federal income taxes, according to this article on Forbes. Layering retirement plans present a very good strategy for business owners who have considerable income and want to delay their income taxation until withdrawn in retirement. Read the retirement investments strategies entrepreneurs may use in tax planning.  --Forbes

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