MILWAUKEE, Nov. 10, 2015 /PRNewswire/ -- This Veterans Day Northwestern Mutual is celebrating the accomplishments of military veterans, both for their service to their country and to their own financial futures.
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Northwestern Mutual's 2015 Elements of Success Survey discovered that veterans are twice as likely as non-vets to use a financial advisor. As a result, veterans are more likely than non-vets to:
- Feel they have 'crossed the finish line' in the race toward financial security
- Have a long-range financial plan
- Believe that there is equal opportunity for everyone to achieve success
The survey found that veterans who are furthest along in the "race to financial success" are also those who use a financial advisor and who have a long-term written financial plan.
"Northwestern Mutual salutes our country's military veterans, and the personal qualities of desire to serve others and to persevere that so many demonstrate. The discipline and leadership skills gained through military service translate into a more disciplined approach to personal financial planning," said Ron Joelson, chief investment officer and executive sponsor of the Northwestern Mutual Military Veterans Employee Resource Group. "Veterans seek out financial advisors because they see the value of having a plan and following through on goals to help achieve financial security for themselves and their families."
Although veterans are 12 percent more likely than non-vets to feel extremely/very successful in their lives, there are still consistent trouble spots for certain groups of veterans. Nearly half of single vets are more likely to consider themselves somewhat/not at all successful compared to those married/living with a partner, retired or have at least a college degree; nearly half of veterans age 50-59 would describe themselves as somewhat/not successful at all; and one in five veterans living in the Midwest say they haven't even 'signed up for the race' to achieve their financial goals.
Harris Poll conducted over 4,300 interviews in June 2015. The interviews were completed among U.S. adults age 18+ and included members of the general population.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $230 billion in assets, $27 billion in revenues, nearly $90 billion in assets under management in our investment products and services, and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to 4.3 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual is recognized by FORTUNE magazine as one of the "World's Most Admired" life insurance companies in 2015.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, Wis., and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company.
SOURCE Northwestern Mutual