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With so many retirement planning strategies and the plethora of information on the internet, it can be hard for some to prioritize where to start when it comes to planning for their retirement. Joe Anderson, CFP\xae and Alan Clopine, CPA share eight proven ways to boost your retirement income. Original publish date January 28, 2017 (hour 2). Note that content may be outdated as rules and regulations have changed.

02:02 \u201cAfter age 70 \xbd, you cannot do an IRA contribution but you can do a Roth IRA contribution.\u201d

04:49 \u201cWhy do we not want to solely focus on dividend paying stocks? There\u2019s a lot of risk involved.\u201d

07:52 \u201cIf you are in a high dividend strategy and you don\u2019t necessarily need the income, you may want to readjust and be more sophisticated in your strategy.\u201d

10:18 \u201cDelay your retirement by a few years\u2026sometimes we run analyses for people if they retire at 65 versus 68 and it\u2019s incredibly different because what happens in a lot of cases is people are in relatively high earning years so they\u2019re putting maximum amounts in their 401(k) and getting maximum matches from their employers.\u201d

12:17 \u201cWhen you add the Social Security to components, sometimes working just a few more years could add ten years to your portfolio.\u201d

12:35 \u201cSee whether a reverse mortgage makes sense for you\u2026we did a webinar on home equity and that was one of the things we talked about.\u201d

17:59 \u201cCan I claim a loss from my Roth IRA? I have a Roth IRA open for over 10 years now. I have contributed about $15K, but I lost around 80% of it due to some stocks that I invested in. Can I claim this 80% lost in my tax return? I know that I can claim up to $3,000/year for capital losses in regular investment, but can I claim my losses in the Roth IRA when I withdraw the money, or sell the stock(s)?\u201d *Question from Investopedia Advisor Insights

18:35 \u201cOnce any dollar goes into a Roth IRA or regular IRA, the capital gains rules don\u2019t apply anymore, so you don\u2019t get to claim the gains or losses.\u201d

20:26 \u201cIt\u2019s difficult to get money into a Roth IRA because a) there are contribution limitations\u2026b) if you convert money, that\u2019s unlimited but realize that you\u2019re paying tax as you convert those dollars.\u201d

29:35 \u201cShould I retire early to take care of my parents? Within the next six months, I plan to quit working so that I can relocate and take care of my parents. I will be 50 years old at that time. I have no debt, am not married, and have no children. All of my living expenses will be paid for by my parents as compensation for taking care of them. In addition, I have a $700,000 nest egg. Many friends and colleagues are telling me I am ridiculous to retire so early. I don't agree. What is your opinion?\u201d *Question from Investopedia Advisor Insights

31:44 \u201cWell, how bad of shape are mom and dad? Are they going to live another twenty years or two years? If they\u2019re going to live another twenty years, then sure, go for it.\u201d

32:53 \u201cThis may not be forever; you can always go back to work.\u201d

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