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News & Events

Managing Your Money In A Downturn

Northwestern Mutual was recently featured in The New York Times Wealth Matters column, "Never Mind Your 401(k). How’s Your Insurance?" about the importance of managing risk in the current economic environment, and strategies that the wealthy use to manage not only their money but their overall well-being. Northwestern Mutual Executive Vice President Greg Oberland comments about how people should be rethinking and managing their insurance needs in a downturn. Read the article (PDF).

 

Steve Forbes and Ed Zore on
"Rebuilding, Reviving and Learning From the Great Recession”

Northwestern Mutual hosted over 3,000 attendees for a speaker series with Steve Forbes and Northwestern Mutual chairman and CEO Ed Zore. The three day tour included Denver, Newport Beach, Chicago, Minneapolis, Atlanta and St Louis.   In each city, Steve and Ed discussed key lessons learned in the Great Recession and how to rebuild and revive the economy. 
Below are some of the key insights the two presented.
 
  • Better fiscal policy and reduced government spending are key to recovery. Forbes stressed the need to have better and smarter government oversight, as many of the problems leading to the recent recession were exasperated by poor oversight. Forbes believes that fixing these issues will help America stay competitive in the global economy. Zore agreed and also stressed the need for better education. Properly educating younger generations is necessary for the country to maintain a strong, employable labor force and stay competitive. 
  • There is reason to be optimistic about the economy. Forbes expressed optimism about the country’s prospects in the short-term, especially given our flexible labor market and history of innovation. Zore added that it will take a good while to right the ship. He said business and markets may be muted or flat for a while, but with reductions in debt, things are getting better. 
  • We need to get back to the basics. According to Zore, people need to get back to basics and manage their finances in a sound manner. Recently, people have lost sight of the conservative spending habits of earlier generations, but we need to relearn those habits to stay financially sound.
 
For more thoughts on these and other business topics, visit the Northwestern Mutual Resource Center of the Forbes.com Fact & Comment page.