What is the Nevada Employee Savings (NEST) Program?

The NEST program is a state-sponsored initiative designed to provide retirement savings options for Nevada's private-sector workers who lack access to employer-sponsored 401(k) or pension plans.

Who is eligible for the Nevada NEST retirement savings program?

Private sector employees in Nevada without access to a workplace retirement plan are eligible. Businesses with six or more employees, operational for at least three years, must register unless they already offer a qualified retirement plan.

Are employers required to contribute to employee NEST accounts?

No, employers are not required to contribute to the NEST accounts. Their responsibilities are limited to enrolling employees, facilitating payroll deductions, and providing basic program information.

Is employee participation in the NEST program mandatory?

No, participation is voluntary for employees.While they are automatically enrolled, they have the option to opt out of the NEST program if they choose.

How does the NEST program benefit Nevada workers?

The NEST program offers a simple and accessible way for Nevada workers to save for retirement, especially those who might not otherwise have the chance. It addresses the significant retirement savings gap in the state.

When was the NEST program authorized?

The Nevada Employee Savings Trust (NEST) program was authorized by Senate Bill 305, which was passed during the 2023 legislative session.

Tag:

retirement savings

World

-title Old Mutual Acquires 10X Investments Fintech Deal

by Priya Shah – Business Editor October 28, 2025

written by Priya Shah – Business Editor

Old ‍Mutual Acquires ⁢10X Investments in R2.2 Billion Deal

JOHANNESBURG – october 28, 2025 – Old Mutual has ‌announced the acquisition of a majority stake in 10X Investments for‍ R2.2 billion, bolstering its position in the rapidly⁣ growing digital investment space. The deal⁤ will see 10X move from the custodianship of OMPE to Old Mutual Wealth, while retaining ‍its independent structure, brand, and current management‍ team.

10X offers low-cost,long-term investment solutions for retail,intermediary,and corporate clients,delivered through a fully digital interface and advanced investment manufacturing⁤ capabilities. Its product range includes pre- ⁣and post-retirement savings, multi-asset and exchange-traded fund (ETF) solutions, and employee benefits for corporate clients.

Since an initial investment from OMPE and DiGAME‍ in 2014, 10X has experienced meaningful growth, increasing its assets under ⁢management from⁢ R3 billion to over R68 billion and‌ now serving more⁣ than 60,000 ‌clients. Old Mutual⁣ highlighted ⁢10X’s leading position in net flows into index products, ETFs, ‍and smart beta solutions – investment ‍strategies blending passive and active approaches.

“This partnership⁢ strengthens our capital base and enhances our ability to invest further⁢ in technology and operational excellence, ensuring we continue to deliver extraordinary value ⁤to our clients,” said Tobie ⁢van Heerden, CEO of 10X.

Farhad Sader,⁤ MD of⁣ Old Mutual Wealth, added that the management teams of both companies have already identified “multiple areas of opportunity which create immediate value.”

The partnership with Old Mutual will provide 10X with resources to expand its distribution reach, invest in innovation, and continue scaling its technology-led platform, enabling “sustainable growth while‍ maintaining the entrepreneurial culture and client-centric approach that define⁤ 10X.”

This acquisition follows a similar move by FirstRand, parent company of ⁣FNB and ‍RMB, which yesterday announced the acquisition ‍of a 20.1% stake ‌in Optasia for an undisclosed sum, aiming to bolster its exposure to new technologies like AI in ⁣lending and broaden its customer base‌ as Optasia prepares for a JSE floatation.

October 28, 2025 0 comments

World

Target Retirement Ages and Savings: Gen Z to Boomer

by Priya Shah – Business Editor August 1, 2025

written by Priya Shah – Business Editor

Retirement savings are projected to last 22 years for the average U.S.worker, a slight decrease from the 23 years estimated for 2024.

“Inflation and market volatility remain top of mind, which can make it difficult to develop a long-term retirement strategy,” said Lee McAdoo, managing director at Schwab Retirement Plan Services. “It’s encouraging to see that most savers are prioritizing consistency in terms of their contribution rates and are largely avoiding dipping into their retirement savings – a positive sign that they are focused on their futures.”

For many U.S. employees, retirement may seem distant, but proactive planning for one’s later years is crucial for financial well-being.

According to a 2024 Mass Mutual study, the average retirement age for U.S. workers is 62. A Northwestern Mutual report indicates that many Americans consider $1.46 million the minimum amount needed for a comfortable retirement.

Retirement savings goals and the ideal age to cease working vary among different generations of professionals.

August 1, 2025 0 comments

Business

10 Best Places on the East Coast To Retire With $500K in Savings

by Priya Shah – Business Editor July 29, 2025

written by Priya Shah – Business Editor

Retire East Coast with $500K: Affordable Havens Revealed

Florida and Pennsylvania Cities Offer Value for Golden Years

Dreaming of a comfortable retirement on the East Coast without breaking the bank? While the region is often associated with high living costs, several charming towns and coastal communities offer surprising affordability, allowing your $500,000 savings to stretch further.

Budget-Friendly East Coast Retirement Spots

A recent analysis identified top East Coast destinations where a half-million-dollar nest egg can provide a fulfilling retirement. These locations balance a relaxed lifestyle with economic practicality, making retirement on a budget a tangible reality.

The study utilized data from the U.S. Census Bureau’s American Community Survey from 2023 to pinpoint these affordable havens.

Representational image of a serene coastal setting.

Florida’s Coastal Charms

Several Sunshine State cities emerged as prime spots for cost-conscious retirees. Sebastian, Florida, boasts an annual cost of living of $46,621, meaning 20 years of retirement post-Social Security could cost approximately $451,856.

Cape Canaveral, Florida, presents a slightly higher annual cost of $48,232, with 20 years of retirement projected at $484,064 after accounting for Social Security benefits.

New Port Richey, Florida, stands out with a notably lower annual cost of living at $43,054, estimating a 20-year retirement expense of $380,506.

North Port, Florida, offers an even more economical option with an annual cost of living at $33,288, projecting a 20-year retirement cost of just $185,194.

Tavares, Florida, has an annual cost of living around $39,374, with a 20-year retirement estimated at $306,900.

Orange Park, Florida, reports an annual cost of living of $45,893, with 20 years of retirement costing an estimated $437,281.

10 Best Places on the East Coast To Retire With 0K in Savings — Florida’s coastline offers attractive retirement prospects.

Pennsylvania’s Value Propositions

The Keystone State also provides appealing options for retirees. Stroudsburg, Pennsylvania, has an annual cost of living estimated at $46,958, with 20 years of retirement costing approximately $458,590 after Social Security.

Punxsutawney, Pennsylvania, known for its groundhog tradition, presents an annual cost of living of $45,460, projecting a 20-year retirement expense of $428,633.

White Oak, Pennsylvania, shows an annual cost of living at $46,269, with a 20-year retirement costing an estimated $444,809.

A charming small town street in Pennsylvania. — Small-town charm can be found in Pennsylvania.

South Boston, Virginia, while not in Pennsylvania, also offers a competitive cost of living at $46,217 annually, with 20 years of retirement estimated at $443,767.

The study’s methodology considered cities with at least 1,000 residents aged 65 and over, using cost of living data, average Social Security income, and livability scores. According to the U.S. Bureau of Labor Statistics, the average annual expenditure for retired households in the U.S. was $53,442 in 2022, underscoring the importance of these affordable locations for those on a fixed income. (Source: U.S. Bureau of Labor Statistics, 2022 Consumer Expenditure Survey).

July 29, 2025 0 comments

Business

At 45, I’m on track for comfortable retirement — but I’m gripped with regret over the money I haven’t saved

by Priya Shah – Business Editor July 14, 2025

written by Priya Shah – Business Editor

Financial Anxiety Haunts Even the Well-Off

Many Americans find money worries persist despite financial stability.

Despite maintaining a solid financial footing, many individuals experience persistent anxiety about their financial decisions. This widespread unease highlights a disconnect between financial security and emotional well-being for a significant portion of the population.

Regret and Financial Stress

Consider **James**, a 45-year-old who meticulously manages his finances. He has a three-month emergency fund, $250,000 in his IRA, and anticipates paying off his mortgage before retirement. He and his wife own their cars outright and carry no consumer debt. Yet, **James** is often plagued by stress, regretting past financial choices, such as his wife’s decision to stay home with their children and his own missed opportunities to maximize retirement contributions during financially tight years.

Widespread Financial Anxiety

A study by Capital One and The Decision Lab reveals that 77% of Americans report anxiety over their financial situation, with 68% expressing concern about having insufficient funds for retirement. This data underscores the pervasive nature of financial stress across the nation.

Precarious Financial Footing for Many

While **James**’s situation is relatively stable, many others face more challenging financial realities. Only 46% of Americans have an emergency fund capable of covering three months of expenses. Furthermore, the average household carries substantial debt, with Ramsey Solutions reporting $19,865 in credit card debt and $36,832 in car loans. Homeownership also remains elusive for many, with the Census Bureau indicating that 65% of Americans own their homes as of Q1 2025.

Seeking Financial Peace of Mind

For those grappling with financial anxiety, taking proactive steps can foster a greater sense of control and confidence. Consulting a fiduciary financial advisor can provide an unbiased assessment of one’s retirement plan and financial goals, helping to alleviate worries and clarify the path forward.

Strategies for Financial Grounding

An advisor can assist in reviewing budgets, emergency funds, and investment portfolios, offering tailored advice for improvement. Whether one’s finances are in excellent shape or require attention, professional guidance can help establish achievable goals, thereby reducing financial stress.

For individuals like **James**, creating a detailed household budget can be instrumental. By scrutinizing daily expenditures and identifying areas for cost reduction, one can free up funds for future investments. This practice can provide a tangible sense of progress and help mitigate worries about future financial security.

A foundational element of financial stability is a robust emergency fund, as demonstrated by **James**’s three-month buffer. Such a fund serves as a critical safety net for unexpected events, from job loss to sudden home repairs, preventing the need to incur high-interest debt or deplete long-term savings.

The Power of Early Investing

The principle of starting investments early cannot be overstated. The power of compounding returns means that money invested grows exponentially over time, making earlier contributions significantly more impactful. Young adults who begin investing in their twenties harness the advantage of time, unlocking the full potential of their portfolios.

Even those who appear financially secure can be affected by economic fluctuations. Factors like inflation and geopolitical uncertainties can heighten existing financial anxieties. Implementing sound financial strategies can serve as a powerful reminder that one is actively working towards a more secure future, even if anxieties persist.

According to the U.S. Bureau of Labor Statistics, the average inflation rate in the United States was 3.4% for the twelve months ending January 2024. This figure highlights the ongoing challenge of rising costs, which can exacerbate financial worries for individuals and families across the country.

By adopting disciplined budgeting, consistent saving, and early investing, individuals can build a stronger financial foundation and cultivate greater peace of mind. These practices empower individuals to navigate financial uncertainties with increased confidence, knowing they are taking concrete steps toward securing their future.

July 14, 2025 0 comments

Business

Millionaire Retirees Spend Less Than You Think

by Priya Shah – Business Editor July 14, 2025

written by Priya Shah – Business Editor

Retirees with considerable nest eggs are demonstrating a cautious approach to spending, withdrawing less than 2% annually from their portfolios, significantly below the commonly advised 4% rule. many are opting to take only the required minimum distributions, allowing the remainder of their wealth to remain invested. This behavior suggests that significant financial assets do not automatically lead to increased lifestyle spending.

Even with substantial financial resources, individuals may continue to manage their spending as if they were on a budget, particularly if their income is not consistently flowing in like a regular paycheck. A $3 million nest egg, while appearing substantial, may not prompt a drastic change in spending habits for many retirees until they have a clear understanding of their ongoing income streams.

July 14, 2025 0 comments

Business

Nevada Retirement Program: Savings for Workers Without 401(k)s

by Priya Shah – Business Editor June 19, 2025

written by Priya Shah – Business Editor

Nevada Launches Retirement Savings Program for Private Sector employees

Table of Contents

Nevada Launches Retirement Savings Program for Private Sector employees

Las Vegas, NV – The Nevada State Treasurer’s Office has initiated the Nevada Employee Savings Trust (NEST) program, designed to provide retirement savings opportunities for private-sector employees who lack access to workplace retirement plans. State Treasurer Zach Conine champions the program as a crucial step toward financial security for thousands of Nevadans.

Addressing the Retirement Savings Gap in Nevada

The american Association of Retired Persons (AARP) estimates that approximately 593,000 workers in Nevada do not have access to a retirement savings plan through their employers [[1]]. This leaves a significant portion of the workforce vulnerable to financial insecurity in retirement. The NEST program aims to bridge this gap by providing a simple and accessible savings option.

Did You Know? According to the U.S. Census Bureau,in 2022,the median retirement savings for Americans aged 55-64 was only $120,000,highlighting the urgent need for accessible retirement savings programs.

NEST Program Details: how it effectively works

Under the NEST program, businesses and non-profits with six or more employees that have been in operation for at least three years are required to register and automatically enroll their employees. This requirement is waived if the employer already offers a qualified retirement plan, such as a 401(k). Registration is free, and employers are not obligated to contribute to the employee accounts.

Employer responsibilities are limited to facilitating enrollment, processing payroll deductions, and sharing essential program information with their employees.Employee participation is voluntary; while employees are automatically enrolled,they retain the option to opt out at any time.

Key Features of the NEST Program

Designed for private-sector workers without employer-sponsored retirement plans.
Businesses with 6+ employees must register (unless offering another qualified plan).
Free registration for employers.
No employer contribution required.
Voluntary employee participation with opt-out option.

Legislative Authorization and Future Impact

The NEST program was authorized through Senate Bill 305, which was approved during the 2023 legislative session. The program is expected to have a positive impact on the financial well-being of Nevada’s workforce, providing a pathway to a more secure retirement for thousands.

Pro Tip: Consider consulting with a financial advisor to determine the appropriate contribution level for your NEST account to maximize your retirement savings potential.

Nevada: More Than Just Las Vegas

While Nevada is famously known for Las Vegas and its gambling scene [[3]], the state offers a diverse landscape and economy. From the natural wonders of the desert to emerging industries, Nevada is constantly evolving [[1]].the introduction of programs like NEST reflects a commitment to supporting the financial health of its residents.

NEST Program: Key Highlights
Feature	Details
Target Audience	Private sector workers without employer-sponsored retirement plans
Employer Requirement	Businesses with 6+ employees must register (unless offering a qualified plan)
Employer Contribution	Not Required
Employee Participation	Voluntary (opt-out available)
Authorization	Senate Bill 305 (2023)

Evergreen Insights: Retirement savings in America

The need for accessible retirement savings programs is a nationwide concern. Social Security, while a vital safety net, is often insufficient to cover the full cost of retirement. Private savings, therefore, play a crucial role in ensuring financial security during retirement years. Programs like Nevada’s NEST are becoming increasingly common as states seek to address the retirement savings gap and empower their residents to take control of their financial futures.

Frequently Asked Questions About the NEST Program

What is the Nevada Employee Savings (NEST) Program?: The NEST program is a state-sponsored initiative designed to provide retirement savings options for Nevada’s private-sector workers who lack access to employer-sponsored 401(k) or pension plans.
Who is eligible for the Nevada NEST retirement savings program?: Private sector employees in Nevada without access to a workplace retirement plan are eligible. Businesses with six or more employees, operational for at least three years, must register unless they already offer a qualified retirement plan.
Are employers required to contribute to employee NEST accounts?: No, employers are not required to contribute to the NEST accounts. Their responsibilities are limited to enrolling employees, facilitating payroll deductions, and providing basic program information.
Is employee participation in the NEST program mandatory?: No,participation is voluntary for employees. While they are automatically enrolled, they have the option to opt out of the NEST program if they choose.
How does the NEST program benefit Nevada workers?: The NEST program offers a simple and accessible way for Nevada workers to save for retirement, especially those who might not otherwise have the opportunity. It addresses the significant retirement savings gap in the state.
When was the NEST program authorized?: The nevada Employee Savings Trust (NEST) program was authorized by Senate Bill 305, which was passed during the 2023 legislative session.

What are your thoughts on state-sponsored retirement programs? How can individuals best prepare for a financially secure retirement? Share your comments below!

June 19, 2025 0 comments

Newer Posts

Older Posts