According to the announcement, RetirAbility Check is available free at www.nationwide.com and provides users with an R-Score to signal how financially prepared they are for retirement. The tool allows users to evaluate their retirement readiness against that of their peers based on data from the National Retirement Risk Index research conducted by the Center for Retirement Research at Boston College and funded by a grant from Nationwide.
Steps in the RetirAbility Check process include:
- Users complete basic demographic and financial information.
- Based on the demographic information, users are provided a RetirAbility Check guide of the same age and gender that guides them through the questions, providing facts and tips about improving their score.
- The peer guide reveals the user’s R-Score along with a description and feedback of the score and peer and national average information.
- The user then receives suggestions for improving the R-Score.
“Nationwide Financial believes it is imperative consumers are challenged in new ways to improve their retirement readiness. RetirAbility Check is one of the first steps in empowering consumers to meet personal retirement goals,” said Keith Millner, senior vice president of Nationwide Financial’s In-Retirement business unit, in the announcement.