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FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. 

Millennials approach retirement differently from previous generations (FA Magazine)

A new Merrill Edge report found that 41% of millennials aged 18-34 expect to retire when they hit a certain financial milestone or savings goal. On the flip side, those in older generations focus on leaving the workforce at a certain age or when they can’t work anymore due to health issues, reports Karen Demasters.

“It has become increasingly apparent that retirement planning is not only evolving, but also has become a moving target that Americans must continuously revisit to pursue their goals and priorities,” Ken Dychtwald, founder and CEO of Age Wave, told FA Magazine.

A popular Social Security collection strategy is about to expire (The BlackRock Blog)

File and Suspend, a Social Security collection strategy which allows the higher earner of a couple to file for Social Security retirement benefits but suspend taking them, will no longer be available to new users starting April 30.

For those who “will not be 66 by April 29, 2016 — you may want to take a closer look at your retirement income strategy overall,” suggests BlackRock’s Rob Kron. “Social Security is just one part of a successful plan — not the entire solution. Remember that annual Social Security payments averaged $16,000 for individuals and $25,000 for couples in 2014.”

Anyone already using this strategy will be unaffected.

The 2 most important words to remember amid sluggish global growth (Charles Schwab)

Patience and discipline. Those are the two words to commit to memory in the face of the current environment,” write Liz Ann Sonders, Brad Sorensen, and Jeffrey Kleintop.

A sluggish expansion and a cautious corporate environment leads us to have a neutral view on equities, which means investors should stick with their longer-term objectives and remain committed to their plan. There are glimmers of hope domestically and globally with strong U.S. job growth and U.S. and global manufacturing looking better.”

The 20 best small cities for starting a business (WalletHub)

WalletHub’s latest study investigates which small cities are the best for starting a business. The team looked at 1,268 small cities across the US, and based their ranking on 15 metrics, including the “average growth in number of small businesses” and “office-space affordability.”

The top seven best cities were Holland, MI, North Chicago, IL, Brighton, NY, Jefferson City, MO, La Vergne, TN, Inver Grove Heights, MN, and Clearfield, UT.

Over a third of Americans overseas are likely to make a mistake on their tax returns or file late (deVere Group)

deVere Group CEO Nigel Green noted in an email correspondence with Business Insider that 35% of US citizens overseas are likely to misreport on a tax return or file late. 

“Overall, a small percentage of taxpayers end up with the dreaded IRS audit.  However, the number of international returns that are audited is disproportionately higher.”

“Since the worldwide rollout of the highly controversial Foreign Account Tax Compliance Act, or FATCA, in 2014, tax returns have become more complex, onerous and burdensome for American expats due to additional reporting requirements,” he said.

SEE ALSO: Here’s what happens with your stuff after you die

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