Be your own hero.
Take charge of your retirement security
National Retirement Security Week is a time to be your own hero and take action, because there’s no reason to wait to take the next step in securing your retirement. Retirees offer today’s workers some pearls of wisdom, according to a recent survey.1
- Start saving sooner – 63% said begin earlier, to save more in the long run
- Save more – 60% said save as much as possible, increasing the per-pay amount at least annually
Newly retired pro football player Peyton Manning knows how important getting ready for retirement can be.
Nationwide helps make it easy to take the next step.
Increase your contribution.
Most industry experts say you’ll need about 70-90% of your current income to maintain your standard of living in retirement, and some say as much as 125% when you factor in inflation and rising healthcare costs.
- Use the Peer Comparison Tool to see how your savings stack up against others like you.
- Use the Paycheck Impact Calculator to see how your take-home pay would be affected by increasing your contribution amount.
- Once you’ve found an amount you’re comfortable with, log on to your account to increase your contribution.
Sign up for automatic increases.
Many Nationwide retirement plans allow you to set a per-pay amount or percentage increase, and how often you want the increase to kick in. Then, relax.
Take advantage of catch-up contributions.
If you’re over age 50, IRS rules allow you to contribute more, including a special one-time catch-up option as you get closer to retirement.
Nationwide offers useful tools and calculators that may help you find the contribution amount designed to help you achieve your financial goals for retirement.
In just 10 minutes, you can understand how much you’ll need in retirement and what you should be contributing now.
Health care costs tend to be the second largest expense in retirement, and over time can overwhelm a retirement budget. Get an estimate of your projected health care costs in retirement, so you can save a little more for them now.
Consider consolidating your assets.
Your 457b plan may allow you to consolidate assets from prior employers’ retirement plans, or your IRAs, into your Nationwide plan. You could simplify your retirement savings, and get a clearer picture of how well you’re working toward achieving your goals.
Consider a target date fund to simplify investment decisions.
These funds automatically adjust your investment mix over time until your retirement date. This saves you time and hassle.
Ask your Nationwide Retirement Specialist about target date funds.
Consider having your account professionally managed.
Many Nationwide retirement plans allow you to get the benefits of a professionally managed portfolio based on your time horizon and risk tolerance.
Ask your Nationwide Retirement Specialist about Nationwide ProAccount®.
Sign up for Paperless Delivery.
Once you do, you’ll receive your statements as well as timely emails that can help you stay on track toward your retirement goals.
Nationwide ProAccount is offered through Nationwide Investment Advisors, LLC. Additional fees apply.
Be your own hero.
National Retirement Security Week is the perfect time to experience the sense of accomplishment that comes from taking control of your retirement plan.
Contact your local Retirement Specialist or call Nationwide at 855-463-4977
Learn more about retirement planning
You should consider all factors before making a decision to move any retirement assets. Moving retirement assets from one plan to another may have unintended surrender, fee, or tax consequences. Contact your tax or legal advisor regarding your specific situation. Neither Nationwide nor any of its representatives provide tax or legal advice.
Target Date Funds invest in a wide variety of underlying funds to help reduce investment risk. So, in addition to the expenses of the Target Date Funds, you pay a proportionate share of the expenses of the underlying funds. Target Maturity Funds are designed for people who plan to withdrawal funds during or near a specific year. Like other funds, target date funds are subject to market risk and loss. Loss of principal can occur at any time, including before, at or after the target date. There is no guarantee that target date funds will provide enough income for retirement.
1 Pentegra Retirement Services