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MILWAUKEE, June 2, 2016 /PRNewswire/ -- According to research* conducted by Northwestern Mutual, living debt-free is the number one marker of financial success for the vast majority of lesbian, gay, bisexual and transgender (LGBT) adults in the U.S., yet two in five say they aren't actively working toward their financial security. The findings underline the important role a long-term financial plan has in helping people achieve their financial goals.
In recognition of Pride Month this June, Northwestern Mutual is sharing insights and tips to help LGBT Americans take charge of their financial futures by starting with a personalized plan. Research shows the vast majority of people who have a long-term plan feel it leads to greater financial success.
"We believe everyone deserves financial security and the pursuit of the American Dream, however they define it," said Sandy Eichel, financial representative for Northwestern Mutual. "LGBT individuals and families have been a dynamic and valued part of the Northwestern Mutual family, and as the needs in this market continue to evolve, so do we."
The company has been recognized as a best place to work for LGBT equality for two consecutive years and earned a perfect score in the Human Rights Campaign's Corporate Equality Index survey. The survey rates companies on criteria such as domestic partner benefits, transgender-inclusive healthcare benefits, public commitment to LGBT equality, and non-discrimination workplace protections.
In recognition of Pride Month, and to help LGBT individuals on their financial journeys, Northwestern Mutual offers the following tips:
Start with a Plan: Get started on your financial planning process by identifying your goals and what you need to do to achieve them. A financial expert in your area can help: https://www.northwesternmutual.com/financial-professional-locator.
Education is Empowerment: There are a number of useful financial tools and resources that can have an immediate impact on financial confidence and success. Start with the basics here: https://www.northwesternmutual.com/financial-guidance/financial-basics.
Begin with the End in Mind: True financial success begins now and builds over time. Talk to your financial professional to make sure your plan covers the whole picture and includes ways to both grow AND protect your assets. Find more resources here: https://www.northwesternmutual.com/financial-guidance/our-financial-planning-process.
*Methodology
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 $238.5 billion in assets, $27.9 billion in revenues and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 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 2016.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, 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, Iife insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company (NMWMC), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC).
SOURCE Northwestern Mutual