Nationwide Financial Services feels it has a possible answer for a vexing question: Am I ready to retire?
The company is
offering at its Web site, at www.nationwide.com, a new tool called
RetirAbility Check that allows visitors to calculate an "R-Score"-a
single number that measures retirement readiness.
The score-which
the company compares to a credit score-is generated through a series of
questions, including demographic and financial information.
During the course of answering the
questions, visitors to the site are also given tips and advice on how
to improve their score. The final score equates to preparedness,
according to the company. For example, a score of 56 means that a
person is on track to have 56% of what they will need if they retire at
age 65 and expect to maintain their current standard of living.
The tool also provides personalized suggestions for improving retirement readiness.
Nationwide says
the tool is meant to address research that shows 44% of Americans who
go online for financial information want more content and content that
is easier to use.
"Our research
indicates Americans want to be engaged beyond just data, statistics and
online questionnaires," said Keith Miller, senior vice president of
Nationwide Financial's In-Retirement business unit.