Increase Education Module
•Télécharger en tant que PPTX, PDF•
1 j'aime•416 vues
One of a suite of individual retirement education modules created for Nationwide Financial, the Increase Education Module helps a plan participant understand how even small increases in their deferral each year could make a big difference at retirement. The module system gives retirement specialists the ability to create longer, fully customizable presentations by allowing them to mix, match and combine individual modules in the suite. This enables the sales force a greater flexibility in planning meetings and answering individual plan and participant needs.
Recommandé
Contenu connexe
Tendances
Tendances (20)
En vedette
En vedette (11)
Similaire à Increase Education Module
Similaire à Increase Education Module (20)
Dernier
Dernier (20)
Increase Education Module
- 2. Increase 2 $2.80 gourmet coffee x 258 working days in a year _____________________________________ $722.40 per year
- 3. Increase 3
- 4. Increase 4 Investing involves risk, including possible loss of principal. Assumptions: Biweekly deferrals, 6% annual effective interest rate during accumulation phase over 30 years; assumes 25% tax rate for paycheck impact (state and federal). This chart is intended for illustrative purposes only. It offers hypothetical examples and is not intended to predict or project investment results. It does not assume taxes, fees or account withdrawals; if it did, results would be lower. The results do not and are not intended to represent the performance of your plan. Additional $105,948 $317,843 $150 per pay invested for 30 years $100 per pay invested for 30 years $211,895
- 6. Neither Nationwide® nor any of its representatives give legal or tax advice. Information provided by Retirement Specialists is for educational purposes only and is not intended as investment advice. Nationwide Retirement Solutions, Inc. and Nationwide Life Insurance Company (collectively "Nationwide") have endorsement relationships with the National Association of Counties and the International Association of Firefighters-Financial Corporation. More information about the endorsement relationships may be found online at www.nrsforu.com. Nationwide Retirement Solutions, Inc. and its affiliates (Nationwide) offer a variety of investment options to public sector retirement plans through variable annuity contracts, trust or custodial accounts. Nationwide may receive payments from mutual funds or their affiliates in connection with those investment options. For more detail about the payments Nationwide receives, please visit www.nrsforu.com. Retirement Specialists are registered representatives of Nationwide Investment Services Corporation, member FINRA. In MI only: Nationwide Investment Svcs. Corporation. Nationwide, the Nationwide framemark, On Your Side and the On Your Side Interactive Retirement Planner are service marks of Nationwide Mutual Insurance Company. ©2012 Nationwide Retirement Solutions Inc. All rights reserved. NRM-6602AO.6 (12/12)
Notes de l'éditeur
- You’re already being smart about using deferred comp. But you probably need to be doing more for your future. According to recent research, 53% of American households are “at risk” of not being able to maintain their current standard of living in retirement. At some point, they’ll likely have to cut their budgets to survive. Will your household be among them? Well, consider this: [Presenter: Listeners may have difficulty absorbing numbers. Take this slow.]Most public-employee pensions provide from 60% to 80% of final income at retirement.2But the Dept. of Labor says, “Figure on at least 80-90% of preretirement income to cover expenses in retirement.”3It doesn’t take a lot of math to figure out that there’s a good chance that you may have a gap between what your pension provides and what retirement income you may need.So, if you’re not saving enough now, you may not be able to retire when you want to or the way you want to.But how?1The National Retirement Risk Index: An Update, Center for Retirement Research at Boston College, Issue Brief 20-12, October 2012.2The Burden of Pensions on States, Mary Williams Walsh, The New York Times, March 11, 2011, www.nytimes.com/2011/03/11/business/11pension.html, accessed December 3, 2012; NRS records.3Taking The Mystery Out Of Retirement Planning, U.S. Dept. of Labor, February 2010, www.dol.gov/ebsa/publications/nearretirement.html, accessed December 3, 2012.
- Saving doesn’t always take a huge lifestyle change like downsizing your home or taking a second job. Sometimes it’s the little changes that can make a big difference. The key to finding more money to invest for your retirement is knowing where to look.Coffee. Now don’t panic. I’m not suggesting that you go cold turkey on your caffeine fix. But what happens if you cut out one trip a day to the coffee shop? About $700 for the year. That’s $700 that could be working for your future. Or maybe you discover the joys of free DVDs from your local library and stop going to the movie theater every week. That’s $400 more for your retirement.
- Maybe you’re thinking: “I’m already putting away some money for my future. Why do I have to give up my daily double latte mocha?” Well, you don’t have to, but I have three words for you – Inflation, Healthcare and Longevity. Things likely will cost more in just a few years. The Dept. of Labor calculates that what cost $2.81 in 2012 would be priced at just a buck back in 1980. If it cost $10,000 in 1980, it likely costs more than $28,000 today.1 Think about what that could mean to your money 20 years from now.Fidelity Investments estimates that a 65-year-old couple retiring in 2012 would need about $240,000 in today's dollars to cover medical expenses throughout retirement –a 4 percent increase over what it projected in 2011.2What are we getting for our healthcare money? We’re living longer. The Census Bureau projects that the population age 85 and over could grow from 5.5 million in 2010 to 19 million by 2050. Some researchers predict death rates will decline more even rapidly, leading to faster growth of this population.3 Living past 100 is becoming more and more probable. Although it seems odd to say, living longer is a real risk. Especially to your money.¹ Inflation Calculator, U.S. Department of Labor, http://www.bls.gov/home.htm, 2012 ² Coping with rising retiree medical costs, CBS MoneyWatch, May 14, 20123Older Americans 2012: Key Indicators of Well-Being, Federal Interagency Forum on Aging, June 2012
- Let’s take a look at what even a small increase can do. [Presenter: Indicate screen]This is what happens when a 35-year-old invests just $50 more per pay. She could see an additional $105,948 in her account at retirement.* [Presenter: Note the disclosure for illustration on screen]And remember – because your plan is tax-deferred, money goes into your deferred comp account before taxes come out of your check. So let’s say you pay around 25% in income taxes. $75 from your take-home pay will actually put $100 toward your retirement. Not only that, but the more you invest in your retirement, the less gross income you’ll be taxed during the year. Instead, your withdrawals (typically made in retirement) are taxed as ordinary income.When you increase what you’re contributing, the impact to your paycheck might not cost you as much as you think. And you can feel even smarter about what you’re doing to get financially ready.
- It all sounds good, but what if you don’t have that much time before you want to retire? You need to play some catch-up. There are two options that can help you.The 50+ Catch up option allows you to save as much as <$5,500> over the current annual max of <$17,500> for a total of <$23,000> this year.1Special Catch up allows you to contribute up to double the annual limit for 3 years to make up for the years that you may not have contributed the max. This year that means you could save as much as <$35,000>.1You can only use one of these catch-up options at a time, but both can help you invest even more during your last years of work. And your contributions are tax-deferred until withdrawal, when they are taxed as ordinary income. If you’re ready to catch up, talk to me to find out more details and if you’re eligible to take advantage of the catch-up provisions.1 <Bracketed> numbers are current as of 2013. Presenter may update this presentation to the current year, if the IRS amends the numbers.