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Segmenting The Golden Years

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Nationwide Financial Services Inc. is offering advisors a strategy for helping clients divide their post-retirement years into 5-year chunks.

A client who uses the new RetireSense program can start by buying enough guaranteed income to cover basic needs throughout retirement, according to Nationwide Financial, a unit of Nationwide Mutual Insurance Company, Columbus, Ohio.

A financial professional can then help the client divide the anticipated retirement years into 5-year segments.

When choosing the products that will generate the income needed to cover discretionary expenses, the client can choose more conservative, short-term vehicles for the first 5-year segment, and more aggressive, long-term vehicles for the later 5-year segments, Nationwide says.

An R-IncomeAnalyzer can help the financial professional and the client calculate the amounts to be invested in each “Life Segment” period; identify asset-allocation options; list product and protection feature options; and estimate probability of success using simulations.