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Top Business Leaders Embark on Multi-City Tour to Discuss the Economy and How Volatile Markets are Forcing Americans to Redefine Financial Security

MILWAUKEE (BUSINESS WIRE), October 03, 2011 - Northwestern Mutual Chairman and CEO John Schlifske and Steve Forbes, chairman and editor in chief of Forbes Media, will speak to more than 3,500 business, community and student leaders in six cities around the U.S. this week.

The executives will provide their thoughts on the economy, the markets, and how individuals and business owners must redefine the rules of financial security during times of market volatility. As part of an ongoing partnership, Northwestern Mutual – a leading financial security company – and Forbes, previously shared messages about the economy to over 10,000 people in 12 other cities.

Now, the tour – titled “Econo-Me: Redefining the Rules of Financial Security” – will visit the following cities:

  • Oct. 3: Birmingham, Ala., and New Orleans
  • Oct. 4: Los Angeles and San Francisco
  • Oct. 5: Washington, D.C., and Baltimore

“Given today’s volatile economy, financial security is no longer about just growing and managing assets. Rather, it means developing and sticking with a holistic financial plan that includes managing risks, and increasing and protecting assets over time,” said Schlifske. “In partnership with economic thought leader Steve Forbes, we will share perspectives on financial security that will help individuals and business owners navigate through these uncertain times.”

Among the key insights and topics Schlifske and Forbes are expected to share:

  • Now more than ever, consumers must make financial decisions based on their short- and long-term needs, not their emotions, and stick with it. Schlifske affirms the need for individuals and business owners not to forget proven principles, such as cutting spending, saving in addition to investing, and dollar-cost averaging for the long-term.
  • We cannot spend our way out of this recession. Schlifske and Forbes agree that pouring more money into the system, and increasing the debt, will only make the long-term solution that is needed more painful. Unless we are willing to endure years of austerity measures, more pro-growth policies need to be considered.
  • It will take time for the economy to get back to a more stable state, regardless of the outcomes of upcoming elections. Schlifske and Forbes believe that periods of bull markets take years to unwind, and Americans should prepare for a long period of retrenchment.

“One thing is clear in the face of all the economic uncertainty and volatility - the rules of financial security are being redefined,” said Forbes. “I look forward to discussing these issues and the opportunities they present. The ultimate goal of this tour is to help people throughout the country achieve financial stability and success.”

Photos taken at each tour event will be posted on the Northwestern Mutual Facebook page. The company will also share live tweets from each tour event, using the hashtag #NMForbes.

About Northwestern Mutual

The Northwestern Mutual Life Insurance Company – Milwaukee, Wis. (Northwestern Mutual), the “World’s Most Admired” life insurance company in 2011 according to FORTUNE® magazine, has helped clients achieve financial security for more than 150 years. As a mutual company with $1.2 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time. Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability insurance, annuities, 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; and Russell Investments.