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Northwestern Mutual

Recent posts by Northwestern Mutual

5 min read

Rules for IRA Inheritance

By Northwestern Mutual on 8/28/23 10:00 AM

Every year, millions of Americans receive an inheritance—from their parents, a spouse or other loved ones. An inheritance can include many different assets, from investment accounts to real estate to individual retirement accounts (IRAs). 

Topics: Retirement Planning Retirement Retirement Plans Individual Retirement Accounts
6 min read

What Is an IRA Rollover?

By Northwestern Mutual on 8/21/23 10:00 AM

Over the course of a career, it’s not uncommon for a person to accrue a variety of retirement accounts: 401(k)s from one or multiple employers, IRA(s) with different companies, etc. But having multiple accounts with different companies can get complicated, making it difficult for you to keep an eye on fees, diversification and your overall financial picture.  

Topics: Retirement Planning Retirement Retirement Plans Individual Retirement Accounts
8 min read

How Does Social Security Work?

By Northwestern Mutual on 8/14/23 11:45 AM

If you’ve ever looked closely at your paycheck (or your self-employment taxes, if you’re self-employed), you’ve probably noticed a portion of your earnings is taken out every month for Social Security. Those contributions are tied to a benefit you could be eligible for someday, one that many Americans take advantage of in retirement. According to the Social Security Administration, 66 million people received monthly Social Security benefits in 2022—and 51 million of those were retirees and their families.  

Topics: Financial Planning Planning in Advance
6 min read

How Much Should I Contribute to an IRA and How Often?

By Northwestern Mutual on 8/14/23 10:00 AM

High inflation levels have eroded many Americans’ confidence in their retirement preparedness. According to the 2023 Northwestern Mutual Planning and Progress Study, U.S. adults aged 18 or older expect they will need $1.27 million to retire comfortably, a 20 percent rise since 2021.  Luckily, Americans’ average retirement savings increased a bit to $89,300.

Topics: Retirement Planning Retirement Individual Retirement Accounts
5 min read

How Whole Life Insurance Can Help With Multiple Financial Goals

By Northwestern Mutual on 7/31/23 10:00 AM

As you go through life, you’re likely to have many financial goals: saving for retirement, paying for your child’s education or wedding, or having enough for emergencies. And for each of these goals, you probably rely on a specific financial product to help reach it.  

Topics: Life Insurance & Annuities Planning in Advance Insurance
5 min read

Life Insurance in Your Retirement Planning

By Northwestern Mutual on 7/28/23 10:00 AM

Once the kids move out and the house is paid off, it may seem like you don’t really have a need for life insurance anymore—after all, some of the main things you would want a death benefit for are now behind you (phew!). But as you approach retirement, life insurance—specifically permanent life insurance—can still fulfill many different roles in your financial plan.

Topics: Retirement Planning Life Insurance & Annuities Financial Planning Planning in Advance Retirement Insurance
6 min read

Americans Average Retirement Savings by Age, and What They Think They’ll Need

By Northwestern Mutual on 7/7/23 10:00 AM

Americans think they’ll need $1.27 million dollars for retirement. They report having less than $90,000 on average in retirement savings. Those are the results of the 2023 Northwestern Mutual Planning & Progress study. 

Topics: Retirement Planning Life Insurance & Annuities Retirement