Long-term financial security doesn’t happen by chance. Take control of your future with customized financial planning services.
Every event in life brings unique opportunities. We can help you be financially prepared to take advantage of them.
When you work with our team to develop a financial planning roadmap, we’ll apply time-tested strategies, providing expert advice and making recommendations based on where you are today and where you want to be in the future.
And along the way, you’ll have the knowledge and insight to make financial decisions that are right for you and your loved ones, so you can meet each of life’s milestones with confidence.
Create a Budget
To reach any financial goal, you need to understand how much is coming in and how much is going out each month by establishing and spending within a budget.
Getting Your First Job
Now that you have your first job, you no doubt have big dreams and lofty goals. You need to ensure you can achieve them. By taking the first step now, you’ll be setting yourself up for a lifetime of financial security.
If you’re about to be married or are newly married, you probably have big hopes and dreams for your future together. Make sure you’re financially prepared – as a couple – to make your dreams a reality.
Buying a New Home
Buying a new home can be one of life’s most gratifying accomplishments. As you prepare to take that big step, make sure you’re ready for the financial commitment. When you approach your decision with confidence, you’ll be free to enjoy this exciting time in your life.
Welcoming a Child or Grandchild
Now more than ever, your goal is to protect the financial well-being of your family. As you welcome a new child or grandchild, evaluate your financial plan to ensure it’s designed to meet changing priorities as your family grows.
Funding a Child’s Education
If one of your financial goals is to pay for a child’s education, the earlier you create a college savings plan, the better. Not only will you save more, you’ll have more time to ride the ups and downs of the financial markets if you choose to invest your savings.
If you’re thinking about changing jobs – or are plunging into self-employment – make sure you are financially prepared to transition smoothly. A new position can be an exciting opportunity, but it may also add to the financial demands on you and your family.
Losing a Job
Losing a job can take a toll on your ego. But it doesn’t have to take a toll on your financial security. There are steps you can take to lessen the impact of temporary unemployment and protect the financial well-being of yourself and your loved ones.
Living Comfortably in Retirement
Now more than ever, planning for your retirement is critical. At Northwestern Mutual, our approach to retirement planning is designed to help you get to – and through – retirement with a greater level of financial confidence, so you can relax knowing you have a road map to achieve your goals.
At Northwestern Mutual, our financial planning process and investment advisory services are designed to help you zero in on what’s most important to you, prioritize your goals and develop strategies to bring your vision for the future to life.
Accident or Illness
An accident or illness can change your life in an instant. Of course, most people don’t like to think about the potential ramifications of a disabling disease or traumatic event, but these incidents happen more often than you might think. That’s why protecting your ability to earn an income is important.
Divorce can be disruptive to you and your family. Eliminate some of the stress of reinventing your life by taking control of your financial planning.
Loss of a Loved One
Of all the challenges in life, the loss of a loved one can be one of the most painful experiences you will encounter. By having a financial plan in place to manage the financial consequences of losing a loved one, you can focus on addressing the emotional challenges death may bring.
When you have an estate plan in place, your children or other loved ones won’t be burdened with making tough decisions on your behalf when they’re already dealing with your illness or death.
At the outset, your financial plan may not need to address all of these life events. But over time, as your circumstances and priorities change, we’ll work with you to adjust your plan accordingly.
One of the greatest financial challenges is preparing adequately for retirement. And now more than ever, strategic retirement planning is crucial to help meet your goals.
Now more than ever, retirement planning is critical. Gone are the days when pensions and Social Security provided all of the income you needed for retirement. The new reality is that you are responsible for managing your own retirement, and that starts with making sure you're strategic in your planning.
We can help. At Northwestern Mutual, our approach to retirement planning is designed to help you get to—and through—retirement with a greater level of financial confidence, so you can relax knowing you have a road map to achieve your goals.
You'll want to start by considering how much to save for retirement and where to save it. By accumulating as much as you can as soon as you can, you can put time on your side—time to plan, time to weather the ups and downs of the market and time to let your money grow.
And then, as you zero in on retirement, you'll need a different set of strategies to manage risk and make your money last through retirement.
A personalized wealth management strategy is necessary to sustain and grow your long-term wealth, meet your financial goals and align your comfort with market risks along the way
Our wealth management services go above and beyond what you might expect from a financial services provider. Northwestern Mutual Wealth Management Company offers:
Investment advisory services, designed to:
- Provide high-quality investment services and products.
- Build and monitor diversified portfolios.
- Develop objective, personalized plans.
- Focus on long-term results.
Trust services and partnerships, designed to:
- Provide continuity of stewardship that can last multiple generations.
- Preserve family harmony when carrying out your intentions.
- Carry out detailed record-keeping and accounting.
- Calculate taxes and file returns.
Northwestern Mutual Wealth Management Company serves as trustee on Irrevocable Life Insurance Trusts. In addition, through our Trust Alliance Program, we partner with nationally-recognized trust administration firms that offer a broad range of services to revocable trusts, charitable trusts, endowments and foundations.
Online access to your account, so you can review:
- Comprehensive monthly statements.
- Performance reporting.
- Account access on a secure website.
- Current account balances on your investment holdings.
- Detailed transaction records on all accounts.
A will or trust are just one aspect of a broader estate planning strategy necessary to fully protect your family and assets, and build a lasting legacy.
Most people associate the phrase "estate planning" with having a will – a legal document that names your beneficiaries and spells out who gets what when you die. And while the transfer of your assets is an important part of estate planning, a will or a trust is just one aspect of a broader estate planning strategy to ensure your wishes are known, honored and carried out as efficiently as possible when you're no longer able to articulate them.
We work with a team of estate planning experts at Northwestern Mutual. Together, we can help you develop an estate planning strategy that may include the following:
- A strategy to help reduce or eliminate gift/estate taxes for your heirs
- A plan to protect your estate from mismanagement or from claims of creditors or ex-spouses
In addition to the expertise our team can offer, you'll want to work with an estate-planning attorney to establish:
- Health care directives and a living will that specify the extent to which you want health care professionals to treat you if you become ill or incapacitated.
- Powers of attorney that grant people you trust the legal authority to act on your behalf in case of sudden accident or illness.
- A will or trust to ensure your assets are transferred according to your wishes. And Northwestern Mutual Wealth Management Company can serve as trustee, co-trustee or successor trustee in a wide range of situations.
- The naming of a legal guardian for children under the age of 18.
A personalized education funding plan with saving and investment strategies can help keep your other goals on track while ensuring one of the best gifts for a child.
If one of your financial goals is to pay for a child’s education, the earlier you establish a college savings plan, the better. A personalized education funding plan will not only help you save more, it will also give you more time to ride the ups and downs of the financial markets if you choose to invest your savings.
Two of the most common college funding vehicles are 529 Plans and Coverdell Education Savings Accounts, though there are many ways to save for a child’s education.
And although your wish may be to fully fund your child’s education, don’t allow that goal to put your own retirement at risk. It’s much like the instructions you’re given by flight attendants when you travel by air: In case of emergency, put your oxygen mask on first before putting it on your child. If you don’t take care of funding your own retirement, you may end up weighing down your kids with that responsibility later in life. Children have options for funding their education, such as loans and scholarships. Retirees don’t.
Working together on your education funding strategies, we can help you better understand your options to meet all of your financial goals.
Long-Term Care Planning
Help minimize the financial risk of a chronic illness or a disabling injury with long-term care planning.
Long-Term Care Planning
Most people hope to enjoy a long and healthy life as long as it’s on their own terms, which likely includes the desire to live as independently as possible. But life doesn’t always happen according to plan.
An unexpected accident, illness or injury can profoundly change your life — sometimes suddenly. And if it does, you may find yourself needing help with the tasks of everyday living.
Long-term care planning may be one of the most important steps you can take to ensure the future financial security of you and your family.