First-of-its-kind, direct-to-consumer retirement savings solution offers guaranteed income for life
Today, Nationwide launched a direct-to-consumer solution, Guaranteed Retirement Income from NationwideSM, that provides guaranteed retirement income every month for life in exchange for small, consistent contributions over time. It is designed to help middle-income consumers who want some certainty in their retirement savings portfolio.
Guaranteed Retirement Income from Nationwide also addresses two substantial obstacles that limit consumers' access to traditional retirement savings vehicles. First, many consumers do not use advisors to plan for their financial future. According to the Certified Financial Planner Board, more than half of Americans with a household income of
"Guaranteed Retirement Income from Nationwide is designed to break down barriers, help Americans simplify their retirement savings needs and provide a solution to uncertainties about their financial future," said
Guaranteed Retirement Income from Nationwide addresses the unmet retirement savings needs of many Americans. It is:
- Accessible – Consumers who opt for Guaranteed Retirement Income from Nationwide will sign up and manage their accounts entirely online; there are no fees to sign up – nor for on-going administration. And, contributions can be as little as
$10 per month or$120 a year. - Dependable – It is built as a fixed annuity, so it's not tied to the stock market and consumers won't need to worry about their retirement savings with every dip.
- Flexible – Participants can contribute between
$120 and$12,000 a year for 15 years or until they are 65, whichever is the longer period of time. The more customers contribute, the more they will receive in retirement income. And, they have the option of contributing monthly, quarterly or annually and can increase or decrease their contributions at any time.
Before signing up, consumers can use an online calculator to determine the future monthly payments that they will receive based on their current age and amount and duration of contributions. People with existing accounts can use a "what if" calculator after logging in to simulate changes to contributions and potential outcomes.
"Our research found that most consumers are comfortable managing their finances online, and fewer middle-income consumers are using financial advisors to help with retirement planning," said
Pilot program begins in
Beginning in
For more information about Guaranteed Retirement Income from Nationwide, visit www.nationwide.com/retirementincome or call 1-888-891-0031.
About Nationwide
Nationwide, a Fortune 100 company based in
Guarantees are subject to the claims paying ability of
Annuities are issued by
Nationwide, the Nationwide N and Eagle, Nationwide is on your side and Guaranteed Retirement Income from Nationwide are service marks of
1CFP Board 2015 survey of Americans' perceptions of the
2
AAM-0423AO
Contact:
Ryan Ankrom
(614) 249-5145
[email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/first-of-its-kind-direct-to-consumer-retirement-savings-solution-offers-guaranteed-income-for-life-300435134.html
SOURCE Nationwide
BMO Wealth Management Report: Complex Modern Family Dynamics Impact Estate Planning
First-of-its-kind, direct-to-consumer retirement savings solution exclusively available in Arizona
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News