It's simple to get a guaranteed paycheck for life.
Find out if it’s right for you
Use our financial review to see how a deferred income annuity like this may fit into your retirement goals.
Decide on a contribution amount
Decide how much you want to contribute – starting at a minimum of $10 per month. Use our calculator to experiment with the numbers.
Contribute as little as $120 per year.
Once you open an account, you’ll make contributions. Once you’ve reached age 65 and have contributed for at least 15 years, you’ll start getting income payments. The larger your contributions, the more you’ll receive in guaranteed income.
Retire and get paid
Get guaranteed paychecks for the rest of your life. No matter how long you live.
Guaranteed Retirement Income from Nationwide could be a great option for you
Before you decide, though, here’s a chance to brush up on some important retirement basics.
Take the next step
The finer points about Guaranteed Retirement Income from Nationwide
About this product
Guaranteed Retirement Income from Nationwide is a conservative approach that provides a consistent stream of income for life. It is a compliment to other retirement planning products such as a 401k or Roth IRA, which have the potential for greater return but also have more risk depending on how the stock market performs.
- It’s a deferred income annuity
- Taxes are deferred until you begin to draw income
- Loans or withdrawals are not available
- There are no sign-up or administration fees
- You must be between 35-70 to qualify
- The rate of return depends on your contribution amount and other factors. Your online account includes a current rate of return calculator
- Your contributions are invested in the Nationwide General Account. Interest generated is used to fund your retirement income
Contributions are set up on a monthly, quarterly, semi-annual or annual basis. In addition, one-time contributions may also be made anytime. The minimum contribution is $120 within a 12-month period.
- Contributions may be stopped for 12 consecutive months
- If contributions are not made for 13 consecutive months, your account will be closed and contributions returned
- Contributions may be made automatically from a bank account
- Payroll deduction is not available
- Use the calculator to understand how your contributions impact your retirement income
Up to 5 beneficiaries can be named. They can be changed at any time through an online account.
- If an account owner dies before receiving income, contributions are returned to the beneficiary
- If an account owner dies while taking income, all income, less the amount already received, is returned to the beneficiary, consistent with the payout option selected
- If there are multiple beneficiaries, money will be divided equally
About guaranteed income
The amount of income received in retirement depends on the total contribution amount and how long contributions are made.
- Once you’ve reached age 65 and have contributed for at least 15 years, you’ll start getting income payments
- You may continue to work while receiving income
- Use the retirement income calculator to see different income scenarios
Our financial services and products are backed by our nearly 100 years in the business. Experience and knowledge that place us among the leaders in the industry.More about us
Guarantees are subject to the claims paying ability of Nationwide Life Insurance Company. Rates are subject to change without notice. Fixed annuities are contracts purchased from a life insurance company. They are designed for long-term retirement goals. Withdrawals or surrenders are subject to income tax and if made before age 59½ may be subject to a 10% tax penalty. Your income may vary based on monthly contributions. Guaranteed Retirement Income from Nationwide is distributed and serviced by Nationwide Financial General Agency, Inc. Annuities are issued by Nationwide Life Insurance Company, Columbus, OH.