I have been retired 5 years. I have a deferred nationwide retirement solutions account with 80 percent in fixed and 20 percent in large cap stocks. I’m hoping to watch that account grow to give to my children when I am gone. With the market free falling I am very fearful of losing this money which I had hoped the children could use to pay off a small mortgage remaining on our summer home. Please advise. Thank you.

Terry Says:  I understand your concern.  But I’m not sure what this “retirement solutions” account is!  Is it inside an IRA?  Or an annuity?  Is there a penalty for withdrawals?  Are your children listed as beneficiaries?  There are tax benefits to letting children inherit a tax-deferred account vs taking withdrawals and paying taxes, just to pay off that mortgage.   But honestly, I can’t answer without more details.

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