A couple sitting at a desk with their financial advisor, talking and taking notes.

Planning with taxes in mind

As a financial professional, your familiarity with the concepts of tax-efficient retirement income planning positions you to:

  • Increase levels of after-tax income for your clients with a tax-aware investing approach that embraces tax diversification
  • Potentially add years to the life of your clients’ retirement portfolios by minimizing taxes and keeping otherwise lost dollars invested
  • Add to the estate value for your clients’ heirs by positioning assets to be passed on in tax-efficient vehicles

Planning considerations for tax efficiency

Before retirement: Asset location has significant implications for future financial flexibility. Beginning 10 to 15 years before retirement, it's critical to review and work toward greater diversity in tax-deferred, taxable and tax-free accounts.

At retirement: Optimize Social Security benefits and consider Medicare surcharges. Insufficient tax planning can lead to increased Medicare premiums or lower lifetime Social Security benefits.

Throughout retirement: During the annual review, clients with high-balance tax-deferred accounts should work with you to examine strategies that may save a considerable amount of money for a surviving spouse or their beneficiaries; potential strategies include Roth conversions, qualified charitable contributions and purchasing life insurance.

Why turn to Nationwide® as a trusted resource?

We’re here to support you and your clients as you fine-tune their tax-efficient retirement income plans.

When clients look to you for guidance to help solve their complex challenges, you can turn to us for support. It’s not possible to be an authority on every topic. That’s why we make our wide-ranging expertise and actionable solutions available to enhance your knowledge and help solve client problems.

The Nationwide Retirement Institute’s tax-efficient retirement income program provides regularly updated education and insights through:

Check out our videos

Learn how Nationwide can help you develop a strategy that optimizes your client’s income while minimizing the impact of taxes that could erode that income.

Review the videos

TERI Video thumbnail
Smiling man standing in front of 2 commercial vans

Start the conversation with your clients

Download and share our Retirement Savings Worksheet. This client-facing guide and worksheet:

  • Discusses why tax diversification matters and illustrates the benefits using easy-to-understand examples
  • Provides an easy way for you and your clients to assess the diversification of their current retirement savings
  • Reveals where there may be opportunities to further diversify asset allocations
The Nationwide Retirement Institute Planning Team can assist with strategies, case design and income planning needs.
For more information about tax-efficient retirement income, view our many resources.

Nationwide and its representatives do not give legal or tax advice. An attorney or tax advisor should be consulted for answers to specific questions.