Nationwide Retirement Launches Income Tool
Nationwide Retirement Solutions has launched its new My Income & Retirement Planner, a personalized experience that can help users understand their savings and how it translates into retirement income.
The planning tool is designed for individuals at any stage of their retirement journey by catering to simple and complex needs. Key features allow participants to:
- Access one comprehensive planner that can help with retirement planning and financial planning needs including retirement income in retirement
- Receive a Chance of Success score based on Monte Carlo simulations
- Explore common “what-if” scenarios to see how they may impact their Chance of Success score
- Review and compare withdrawal strategies from multiple sources of retirement assets
Other features include a healthcare cost and other retirement expenses estimator, an estate planning checklist, aggregation of external account and asset information, and coaching alerts for helpful tips and suggestions.
“We know from working with millions of participants that today’s savers view their retirement plan as so much more than just a savings vehicle,” said Hutch Schafer, vice president of Business Development for Nationwide Retirement Solutions. “They want to know if they are on track, steps they can take to optimize their chance of success – and most importantly, how their savings will translate to financial security in retirement. My Income & Retirement Planner empowers them to understand their options and simplify the retirement income challenge.”
My Income & Retirement Planner may be used in a self-serve capacity using the Digital Coach capability or with the help of one-on-one support from trained retirement specialists.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
