Financial advisers can help their clients increase retirement income by implementing five key strategies, said David Blanchett of Morningstar. Blanchett recommends considering the client's ability to save as part of an overall wealth-asset-allocation plan, re-evaluating the standard 4% rule for withdrawals on a yearly basis and considering annuities as part of a holistic approach to risk management. He also advises planners to reduce a client's tax bill by managing asset location.

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