Thomson Reuters has released a special report, Tax and Financial Planning for Baby Boomers. The report focuses on three key tax and financial planning opportunities tax practitioners can provide for their baby boomer clients who are approaching retirement: planning for retirement plan distributions, maximizing Social Security benefits, and planning for their children’s and grandchildren’s college costs.
The first baby boomers turned 65 in 2011 and by 2029, more than 20 percent of U.S. residents will be over 65. This report equips tax practitioners with fundamental tools required to help their baby boomer clients achieve a stable and secure financial future.
“Baby boomers will encounter many challenges as they approach retirement, including how to ensure their own financial security,” said Blake Smith, senior director of product management with the Tax & Accounting business of Thomson Reuters. “Tax practitioners are well-positioned to provide planning strategies that help turn these challenges into opportunities.”