Approaching Retirement 

approaching retirement 

Chances are your retirement will last longer than you imagine. In fact, increasing life expectancy means you could live well into your 90s and beyond.

How do you want to spend those years? And, equally important, how will you pay for a lifestyle that allows you to do what you want, for as long as you want?

Find out how prepared you are for retirement by taking the 9-Hole Retirement Challenge.

A Sound Strategy 

Retirement Risks 

Steps for Success 


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A Sound Strategy for Success

Northwestern Mutual’s comprehensive approach to retirement planning helps you meet three key retirement goals:*

  1. Income for Life: Creating a reliable stream of income to meet living expenses in retirement.
  2. Protecting Your Assets: Protecting your retirement savings so it lasts your lifetime.
  3. retirement plan solutionsLeaving a Legacy: Leaving money to your loved ones or charities.

A Different Approach to Retirement Planning

Northwestern Mutual takes a different approach to retirement planning. Rather than simply looking at income needs, Northwestern Mutual takes an offensive and defensive approach—that advises on how to optimize your income while managing the key risks of retirement. The result is a retirement strategy that provides you with a plan that includes both investment and insurance product solutions and factors in additional risk measures, such as longevity and long-term care, designed to provide up to a 90% probability of success. Learn more about our Retirement Strategy in this comprehensive white paper.

To find out how this innovative strategy can benefit you, contact a Northwestern Mutual Representative today.

*The performance of investments is subject to market fluctuations.
All guarantees in annuities are subject to the claims-paying ability of the issuer.

Northwestern Mutual has a patent application pending on its new retirement allocation strategy planning tool.


Protecting Your Assets by Managing Risks

Planning for retirement should also take into account the unique risks associated with retirement, including:

  • planning for a long retirementLongevity
    The good news is people are living longer, healthier lives. The bad news is that many underestimate how long that might be. Doing so may put you at risk of outliving your retirement savings.

  • Market
    Investments provide growth potential to keep pace with rising costs. However, all investments carry some risk of loss, and the market can be volatile in the short-term; impacting how much money you’ll have in retirement.

  • Inflation and Taxes
    Both inflation and taxes can take a bite out of your retirement savings—inflation by reducing the purchasing power of what you have and taxes by reducing the amount of income you have left to spend or invest.

  • Health Care Costs
    Unexpected health care costs can quickly derail retirement savings, as can rapidly rising medical costs, fewer employer-sponsored retiree health plans and limited government health benefits.

  • Long-term Care Needs
    The expenses associated with a prolonged illness that requires special care can take a toll on a retirement income plan, depleting assets you’ve worked hard to accumulate.

  • Leaving a Legacy
    Fulfilling the goal to leave a financial legacy for loved ones or charitable organization often involves tradeoffs: striking a balance between meeting your retirement income needs and satisfying your legacy desires.

A Comprehensive Retirement Plan

Northwestern Mutual’s retirement planning approach encompasses comprehensive retirement strategies for optimizing your income while managing risks. The result is a retirement strategy designed to build and protect your assets and provide you with a predictable income throughout your retirement years. To find out how this innovative strategy can benefit you, contact a Northwestern Mutual Representative today.


Tips for Sound Retirement Planning

To create a plan to turn your savings into a steady stream of retirement income, it’s important to be informed, prepared and to work with a trusted financial advisor. Some things to consider:

  • Get Specific About Retirement
    Describe on paper your idea of a perfect retirement. Then compare notes with your partner.

  • Practice Retirement
    Use time off from work to explore new hobbies, visit potential retirement communities and test-drive what it feels like to live your retirement dream.

  • Create a Budget
    Calculate your needs (essential expenses) and wants (discretionary expenses) to determine exactly how much money you’ll need to live on; then identify your sources of retirement income. The goal is to match your essential expenses with guaranteed sources of income.

  • Research Medicare and Other Health Care Options
    Also review your long-term care protection arrangements. This is especially important if you plan on retiring early.

  • Review and Update Your Estate Plan
    Update the beneficiary designations for your insurance and investment accounts and retirement plans. Also review your will and your financial and health care powers of attorney.

  • Fine-tune Your Asset Allocation
    Make any needed adjustments to ensure your portfolio continues to reflect your risk profile and life expectancy.

  • Position Assets for Retirement
    Where your assets reside prior to retirement can contribute to the success of your retirement income plan. Consider the tax-deferred benefits of options such as IRAs and deferred annuities.

To learn more, contact a Northwestern Mutual Representative.


Retirement Planning Solutions

As you approach retirement, consider a mix of the following solutions:

  • Life insurance to protect your family financially from a premature death or use living benefits to supplement your retirement income.
  • Long-term care funding to help prepare for the cost of care that an illness, physical or cognitive impairment, or the lasting impact of an accident can require.
  • Annuities to provide a stream of guaranteed* income that can last as long as you need it.
  • Mutual funds to help accumulate your retirement savings over time.
  • IRAs to help build your nest egg on a tax-deferred basis for the future.

To learn more, contact a Northwestern Mutual Representative.

*Annuity guarantees are backed by the claims-paying ability of the issuer.


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