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

Don't let election drama sway clients' investment decisions
Retirement savers should ignore the economic and financial angst that arises as the national elections draw near, according to this article on Kiplinger. The article notes that in the last presidential election, the mainstream media would have you believe the sky was falling: the stock market would drop by much as 30%, and the United States may not be able to pay its bills. Moreover, that "level of drama went on for months." Few mentions were made of a scenario that would pave the way for the positive year the market actually experienced in 2013. Today , the drama started even earlier in the election cycle. The bottom line from the article: Investors should not buy into the hype. Instead, they should create a financial strategy that will enable them to adjust easily to various market trends and conditions. --Kiplinger

This common delusion can wreck clients' lifestyle in retirement
Research show that more seniors are carrying more debt into retirement, but many people still believe that they will retiree debt-free, according to this article on MarketWatch. Leading a debt-free life in retirement is unlikely even for middle-income boomers, as they “have too much debt to be able to completely eliminate it before retiring,” says a bank executive. “As boomers retire, every dollar that they spend to pay off debt is one less dollar that they can spend on these new retirement activities.” --MarketWatch

4 ways for clients to botch their retirement plans
Clients could ruin their plans for a comfortable retirement by procrastinating when building their nest egg, according to this article on U.S. News & World Report. They also may hurt their chances of having a secure retirement if they fail to diversify their investment portfolio. Another mistake that could destroy their retirement plan is not seeking professional help from a financial planner when making important investing decisions. Finally, tapping their retirement accounts early to buy non-essential products can be a major mistake that can derail their plans. --Yahoo Finance

Are clients' kids ruining their retirement?
Many seniors continue to provide financial support to their adult children, putting their retirement security at risk, according to this article on Money. Older people can help their children without hurting their prospects for a comfortable retirement by limiting the assistance they provide,or by prodding their children to develop a budget and to write down the terms and conditions they have agreed on. Seniors should consider their own welfare first before extending help, and make sure that they provide financial assistance during clearly specified emergency situations. --Money

Big IRAs and 401(k)s are at risk: Where else to save?
Clients with considerable funds in IRAs and 401(k) plans have other savings options if a limit is imposed on the amount of funds these accounts can hold, according to this article on CNBC. These options include deferred compensation plans, after-tax 401(k) contributions, and health savings accounts. High-income investors who don't qualify to contribute to a Roth IRA may opt for the backdoor Roth strategy, which allows them to make non-deductible contributions to a traditional IRA and to transfer the amount to their Roth account. --CNBC

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