Northwestern Mutual Survey Reveals Hard Work and Perseverance are the Foundation of Financial Success for Most Hispanics

Company releases new data during Hispanic Heritage Month

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Oct 12, 2016, 08:00 ET

MILWAUKEE, Oct. 12, 2016 /PRNewswire/ -- New findings from a Northwestern Mutual survey* reveal that 66 percent of Hispanics rate family happiness as a top measurement of their own personal success. Additionally, 80 percent of Hispanic adults cite hard work and perseverance as the foundation for financial success.

A new 2016 Northwestern Mutual survey reveals hard work and perseverance are the foundation of financial success for the large majority of Hispanics.

As part of its commitment to helping clients grow their financial confidence to enable them to live life differently, Northwestern Mutual conducted a survey to gain deeper insights into what is most important to Hispanics and their families, and to help prepare them for successful financial futures.

"Our financial representatives are committed to deepening their understanding of the financial planning challenges facing the Hispanic community so that they can provide them with the expertise and guidance they need to become more financially secure," said Chris Meece, director of Hispanic multicultural market strategy for Northwestern Mutual.

The broad notion of family happiness is evident in the responses of how Hispanics approach and define building a legacy for their families. Key findings from the survey include:

64 percent of Hispanic adults agree that the cost of education is a significant barrier to achieving a legacy of financial security for their families.
- More than half of respondents with a household income over $100,000 agree with this statement (56 percent)
- Two thirds of respondents with a household income less than $50,000 feel the same way (67 percent)
64 percent of respondents agreed that buying insurance is the smartest way to protect their families.
79 percent agree that a comfortable retirement means their families will be more financially secure.

Northwestern Mutual financial representatives have first-hand insights into the unique challenges Hispanics face while planning their financial futures. During Hispanic Heritage Month Northwestern Mutual is sharing success stories of some of its financial representatives and clients in addition to research insights on its social media channels.

Earlier this year, Northwestern Mutual was also a key sponsor of the Association of Latino Professionals For America Convention - an event to help build the confidence of young Latino professionals and empower the next generation of Latino leaders -- and the "I Am Latino In America Tour," hosted by award-winning journalist Soledad O'Brien, which fosters national dialogue on issues critical to the Latino community.

To find a financial representative, please visit https://www.northwesternmutual.com/financial-professional-locator.

To learn more about Northwestern Mutual's available services and products, both in English and Spanish, please visit:

Life insurance:
English: https://www.northwesternmutual.com/products-and-services/life-insurance.
Spanish: https://es.northwesternmutual.com/productos/seguros-de-vida

Retirement planning:
English: https://www.northwesternmutual.com/financial-guidance/planning-priorities/saving-for-retirement.
Spanish: https://es.northwesternmutual.com/planificacion

*About the Research

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 502 Hispanic adults. Fieldwork was undertaken September 21-26, 2016. The survey was carried out online in English. The figures have been weighted and are representative of all US Hispanic adults (aged 18+).

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 4.4 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 ranks 100 on the 2016 FORTUNE 500, and is recognized by FORTUNE 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, life 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).

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SOURCE Northwestern Mutual