According to a survey by AARP Financial, 38 percent of workers over 50 do not understand how an IRA works. Helping clients save for their retirement may involve explaining how to choose investments that make the most sense for their situation.

When trying to decide between stocks and bonds, Morningstar suggests looking at when the funds will be needed. If retirement is more than 15 years away, the company says, stocks are more appropriate. If retirement is just over the horizon, look at alternative asset classes like REITs, which can generate a lot of taxable income and would benefit from an IRA’s tax advantages.

Read more at Morningstar.