Nationwide Retirement Services safe?

[burrpenick]

I get a small pension and have my nestegg tucked away with Nationwide Retirement services. Its a great mix of stocks/bonds/fixed and they do a fine job managing it for nothing (a governmental account). IN light of AIG/Merrill Lynch/Enron etc, is it safe having it all with one firm....even Nationwide!

[Petunia 100]

I took an early retirement w/ a small pension. All my investment savings is in a great mixed type fund- NATIONWIDE RETIREMENT ACCOUNT. Its a great mix of stock/bonds/fixed etc. My only concern is that all of my $ is with Nationwide. Is that safe....considering ING/Enron/Merrill Lynch etc.

Nationwide is an insurance company, not a securities broker. Sounds like what you own is an investment wrapped inside an insurance product. That is an extremely expensive way to invest, which translates to less money for you.

[disneysteve]

I get a small pension and have my nestegg tucked away with Nationwide Retirement services. Its a great mix of stocks/bonds/fixed and they do a fine job managing it for nothing (a governmental account). IN light of AIG/Merrill Lynch/Enron etc, is it safe having it all with one firm....even Nationwide!

First off, they don't manage the account "for nothing". You are absolutely paying for the service in the form of commissions and account expenses.

As for the question about AIG or ENRON, that's entirely different. You aren't invested in one single company. If you have a diversified portfolio of stocks, bonds, and cash instruments, that money is likely spread over various companies.

Petunia raises a good question, though. Is this a whole life or variable life policy?