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

Making retirement lemonade from health insurance lemons
The total out-of-pocket health care expenses of a 65-year-old couple in retirement could exceed $320,000, with these costs to increase 5% annually, according to this article on CNBC. Clients who want to secure their retirement are advised to prepare for these costs, with strategies such as contributing to a health savings account. "The HSA is the best tax-saving tool. Money goes in pretax and comes out pretax. There's nothing else like it," says an expert.

Bloomberg News

How clients will know they’re ready to retire
The best retirement date is not the same for everybody, as the right time depends on clients' individual circumstances, according to this article from Kiplinger. To determine the right time to leave the workforce for good, clients should determine whether they have enough savings for their needs throughout the golden years, and whether they are prepared physically and mentally to end their career for good. Getting help from a financial advisor who specializes in retirement is recommended for clients to arrive at an informed decision.

Clients should max out their 401(k), right? Not so fast
For some clients, maxing out contributions to a 401(k) plan may not be a smart move because of their personal circumstances, according to this article from personal finance website NerdWallet. For instance, 401(k) participants who pay high investment fees and other costs associated with their plan, may want to consider forgoing maxing out the contributions and instead open an IRA with lower costs and better options. They may also consider directing some of their funds to non-retirement goals, such as paying off high-interest credit card debt and emergency savings, and urgent daily living expenses.

Money Milestones: How to save for retirement while building a business
A recent survey has found that many entrepreneurs have no proper retirement plan, as they only earn a small income from their business, tap their nest egg to launch a business, or intend to sell their business to cover their needs in the golden years, according to this article on MarketWatch. Opening a retirement account and making the first contribution can be very challenging for entrepreneurs, says an expert. Small business owners with fewer than 10 workers have the option of setting up a SEP IRA, a SIMPLE IRA, or a self-employed 401(k) plan. SEP IRAs enable business owners to deduct contributions as tax deductible business expense, while those who opt for a self-employed 401(k) plan can expect tax-deferred growth on investments.

401(k) accounts are booming. What should investors do?
401(k) participants are advised to review their portfolio in the plan, even as their investments continue to grow because of the favorable performance of the stock market, according to this article from USA Today. "Now is a good time to check" their stock allocation in their portfolio, says an expert. "You don't want to wait until the market tanks, because by that point, it's probably better to ride it out."