Wells Fargo & Company aims to provide banking, mortgage, investing, credit card, insurance, and personal, small business and commercial financial services. Having its headquarters in San Francisco, California and numerous successful hub quarters in other countries, it has an international reach. Overpowering ICBC in July 2015, it is now the world’s second-largest bank by market capitalization and the third-largest U.S. bank by assets after surpassing Citigroup Inc. Added to this is the fact that it is the second-largest bank in deposits, home mortgage servicing and debit cards.
Wells Fargo is one of the “Big Four Banks” of the United States with 8,700 retail branches and 13,000 machines. Bearing widespread roots, the company has over 70 million customers globally and spans across 30 countries of the world. Three different segments namely Community Banking, Wholesale Banking, and Wealth, Brokerage and Retirement have been outlined by Wells Fargo.
What Role Can Wells Fargo Play In Planning Your Retirement?
Various vital retirement goals can be reached via the support of Wells Fargo. They have the necessary investment products that aid in planning one’s retirement in the best possible way so that one can avail the income once retirement is reached.
This can be achieved by taking the following products and services into consideration:
In order to have the best retirement plan one needs to know the basics of retirement, plan for the retirement income and then manage the money in the retirement. Handing the money earned by toiling so hard and saving in employer-sponsored retirement plans such as 401(k)s, 403(b)s or governmental 457s can be done via taking into account options such as investment choices, fee structure and expenses incurred, and services offered. Choosing the advantages over the disadvantages is all that is needed to be done for the retirement plan to be a success. Here’s where Wells Fargo retirement plan administrator and tax professional steps in to provide you the essential knowledge so that the best choice is preferred under the best circumstance.
Why You Should Go For My Retirement Plan?
Registered representatives of Wells Fargo Clearing Services, LLC (WFCS), are essential so as to provide brokerage products, referral to affiliates or in case of a financial benefit. These people are commonly referred to as Retirement Professionals. Whether you’re just in your 20s or 30s and have just begun saving or you’re nearing your retirement or in your 70s living your retirement, Wells Fargo My Retirement Plan offers a realistic savings goal according to your desires and fabricates and achievable plan so that you can easily reach up to your set goal.
So as to make the correct decision for yourself, you can leave your retirement savings in your former employer’s retirement plan or move your retirement savings directly into your new employer’s retirement plan or withdraw your money as cash. In case of a withdrawal, a federal penalty of 10% may be subjected if taken before the age of 59½yeras. You can set up an account in Wells Fargo and avail their amazing offers. You need to know Wells Fargo Routing Number if you want to make transactions.
Making Most Of The Retirement Plan
To make the most of My Retirement Plan, you have to start right away by starting saving at the earliest, reviewing the steps that you have been recommended and taking an action for the same. It is important to stick to your saving plan even if your tight budget doesn’t allow you to. Efforts should be made to have online access to your Wells Fargo account. Accordingly your plan can be improvised. It is of the utmost value that your plan is reviewed whenever your financial situation changes or within one year or so. Thereafter, a more conservative plan can come into action when needed. The projected amount of monthly income should be checked and reviewed in order to have a comfortable retirement period. Last by not the least, planning for the worst case scenario is fundamental.