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ACHIEVING YOUR FINANCIAL DREAMS IS CLOSER THAN YOU THINK

Financial Advisor Gives Advice as People Continue to Re-create Their Financial Plan During Uncertain Times

Mark Haywood

Financial Advisor, Northwestern Mutual

While 2020 was a year that we’ll never forget that upended American life, moments of change present new opportunities. And that even amidst a crisis like a once-in-a-century pandemic, there are silver linings to be found. Americans are not only re-imagining their dreams, but actively pursuing them. This is evidenced by a surge in vacation home buying (up 100% from last year), the unprecedented rate of new businesses being started, and the 70% of Americans that plan to tackle home renovations in 2021. A profound silver lining has also emerged for millions of Americans: savings accounts have risen.

The pandemic remains a part of our lives, and it has made many of us realize the importance of planning and being prepared for the unexpected. And, with the right plan in place, there are always opportunities to continue to achieve your financial dreams.

Whether you have an established financial plan or looking to start now, Northwestern Mutual financial advisor Mark Haywood can help. He is available on February 25 from 7 a.m. to 12 p.m. ET to share financial advice to keep your dreams on track even in uncertain economic times. He’ll also discuss the best strategies for rebuilding and refocusing your financial goals in 2021.

SOME OF MARK’S ADVICE INCLUDES:

• DETERMINE YOUR GOALS: It’s about planning for your life, not just your money, and what you want to achieve today and tomorrow. Having the right plan in place builds confidence in your decisions and puts you on a path of success.
• PREPARE FOR THE UNEXPECTED: A good long-term goal to keep in mind is saving up enough to cover at least 6 months’ worth of expenses. However, in the event you are furloughed or laid off, it might take longer than normal to find a job. With this in mind, nine to 12 months’ worth of expenses may be a safer goal amount to put away.
• AUTOMATE YOUR SAVINGS:  Once you’ve determined your monthly spending, automate your savings, this will help hold you accountable to set this money aside, rather than spend it. Your future self will thank you!
• REVISIT YOUR PLAN:  Whether you’ve been laid off, furloughed or maintained a steady income during this time, take a comprehensive look at what is coming in each month then deduct your monthly bills and any secured debt you might have. Anything that’s left over can be redirected toward rebuilding your savings to help you stay on track with short- and long-term financial goals.
• WORK WITH AN EXPERT:  Facing uncertain or unexpected financial challenges might feel scary, but a financial professional can help you to navigate challenging times. Consider partnering with a financial professional to put together a financial plan. A personalized plan can help to map out where you want to be financially and ultimately support you in reaching your savings goals, even during a time of uncertainty.

For more information please visit: www.northwesternmutual.com

For more info, please contact: Heather O’Neill at 917-689-2167 on behalf of: MultiVu Media Relations

MORE ABOUT MARK HAYWOOD:

Mark has built his practice with the mission to help clients become “better today than they were yesterday.” Haywood accomplishes his mission through a three-tiered platform to insure against things going wrong, invest for when things go right and insulate assets everywhere in-between. An advisor with Northwestern Mutual since 2012, Haywood focuses on a variety of planning areas including Business Continuation, Employee and Executive Benefits, Life Insurance, Disability Income, Long Term Care, Education Funding, Investments and more. Haywood has been a featured speaker and panel guest at a variety of internal and external events. Haywood as provided commentary to media nationwide including U.S. News & World Report and Martha Stewart Living.  A proud alumnus of Cornell University Haywood double-majored in Economics and Africana Studies. During his tenure at Cornell, he joined the Kappa Xi chapter of Phi Beta Sigma Fraternity, Inc. and served as President. Upon graduation, Haywood began his career as a financial analyst at The Boeing Company and helped to support the International Space Station. Haywood also holds a Masters of Science in Finance at the University of Houston – Clear Lake. Mark and his wife live in the Houston, Texas area.

Produced for: Northwestern Mutual