Contributing to your retirement account
Some industry analysts think you should contribute 10–15% each pay period for
retirement, but you need to find out what’s right for you.1 Watch the
video below for information about contributing to your retirement account.
To see how your take-home pay would be affected
by starting to contribute or increasing your contributions to an employer-sponsored
retirement plan, use the Nationwide Paycheck Impact Calculator.
Even small increases to
your contribution help
Increasing your contribution can make a big
difference later with little impact to your paycheck. See the example
below:2,3
[1] Choose the Right
Contribution Rate for Your 401k, U.S. News & World Report (March 2017).
[2] Illustration assumes bi-weekly deferrals accumulated at 7% for 30 years.
[3] This example is only an illustration and isn’t intended to reflect the return of
any actual investment. Investments don’t typically grow at an even rate of return
and may even lose money. The effect of taxes and costs of investing have not been
reflected.
Investing involves market
risk, including possible loss of principal, and there is no guarantee that
investment objectives will be achieved.
