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☆ Here are 3 money moves wealthy Americans are more likely to make in times of economic uncertainty
▼ + stars: | 2023-09-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Almost regardless of how much you have in the bank, it's hard to feel financially secure. Across the board, households are facing surging child-care costs, ballooning auto loans, high mortgage rates and record rents amid economic uncertainty and recessionary fears. And nearly half, or 47%, of wealthy Americans said their financial planning needs improvement. Yet there are things millionaires do that the rest of us may not, Northwestern Mutual's report also found, which can go a long way toward improving long-term well-being. Here are three moves wealthy Americans are more likely to make:

Persons: — Organizations: Finance, Edelman Financial, Bloomberg Locations: Northwestern

☆ US stocks slump as investors brace for the Fed's next interest rate decision
▼ + stars: | 2023-09-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks dipped Tuesday as investors braced for the Fed's next interest rate move. Investors are pricing in a near-100% chance rates will be kept level on Wednesday. All three benchmark indexes ended the day lower, with the Dow losing over 100 points. All three benchmark indexes ended the day in the red, with the Dow losing over 100 points as central bankers deliberated over their next policy decision. Markets are pricing in a 99% chance central bankers will choose to keep interest rates level on Wednesday.

Persons: Jerome Powell, Brent Schutte Organizations: Dow, Service, Federal, Northwestern Mutual Wealth Management, Brent, West Texas Intermediate, Dow Jones Locations: Wall, Silicon, Here's

☆ Fed won't ease liquidity until wages move substantially lower, says Northwestern Mutual's Schutte
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed won't ease liquidity until wages move substantially lower, says Northwestern Mutual's SchutteBrent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company, joins 'Squawk on the Street' to discuss his thoughts on the overall macro economy, where the terminal rate goes and what could keep rates persistently higher.

Persons: Northwestern Mutual's Schutte Brent Schutte Organizations: Northwestern Mutual Wealth Management Company

☆ Wall St Week Ahead: Last Fed hike tends to aid stocks, but some have doubts this time
▼ + stars: | 2023-09-15 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

"The market will probably cheer it a bit if it is the end of the Fed rate hike cycle," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company. Traders see a roughly two-out-of three chance of the Fed leaving rates unchanged in November, CME's data showed. Odds for December show about a 60% chance rates of rates staying at current levels. Analysts at Oxford Economics forecast further downside for global earnings, noting that stocks "have typically delivered far weaker returns following the final Fed rate hike when it has coincided with an EPS downturn." "But I'm not sure how sustainable it would be given where stocks are valued relative to bonds already."

Persons: Brendan McDermid, CFRA, Brent Schutte, Schutte, Jerome Powell, Sam Stovall, LSEG Datastream, Jack Ablin, I'm, Lewis Krauskopf, Ira Iosebashvili, Richard Chang Organizations: New York Stock Exchange, REUTERS, Northwestern Mutual Wealth Management Company, Fed, Oxford Economics, Equity, Treasury, Cresset, Thomson Locations: New York City, U.S, Oxford

☆ Inside 2 major groups that run NIL deals for Big Ten student-athletes as 'collectives' gain enormous power and influence in college sports
▼ + stars: | 2023-09-14 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +9 min

During the first year of NIL, collectives were viewed as "hush-hush" by many in the industry, Opendorse marketplace's Braly Keller previously told Insider. Brandon McCladdie/Happy Valley UnitedHow collectives work with college athletesThe main goal of collectives is to create NIL opportunities for college athletes. About a quarter of Dinkytown Athletes' NIL deals have been business partnerships between Minnesota athletes and companies like Dove, Northwestern Mutual, and PNC Bank. Happy Valley United's NIL work also involves engaging with the local community, including the collective's partner charities, said McCladdie. Happy Valley United is building its brand through media attention and community-based "grassroots" efforts, McCladdie said.

Persons: marketplace's Braly Keller, Keller, there's, it's, University of Minnesota —, Derek Burns, Burns, Brandon McCladdie, McCladdie Organizations: Big Ten, Pennsylvania State University, Dinkytown, University of Minnesota, State College ,, Penn, Golden Gophers, Happy, Dinkytown Athletes, Penn State, Blueprint Sports Foundation, Northwestern Mutual, PNC Bank, College, Gopher, Gopher Sports, State College Locations: State College , Pennsylvania, Minnesota, Minneapolis

☆ 47% of Americans say achieving retirement security will take a miracle. Why inflation is to blame
▼ + stars: | 2023-09-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

DusanManic | iStock | Getty ImagesAlmost half of Americans, 47%, say achieving retirement security will take a miracle, according to a new survey from Natixis Investment Managers. The results come as research from the firm shows the U.S. has improved its overall score for retirement security compared to last year, with 71% versus 69% in 2022. The five top countries for retirement security include Norway at No.1, followed by Switzerland, Iceland, Ireland and Luxembourg. Most survey respondents, 84%, say recent economic activity shows inflation is a big threat to their retirement security. Moreover, 58% of retirement savers and retirees say their biggest worry is outliving their money, Cerulli Associates recently found.

Persons: Dave Goodsell, Goodsell, it's, Cerulli, Mary Johnson, Johnson Organizations: iStock, Natixis Investment, Natixis Center, Investor Insight, Northwestern Mutual, Social Security, Senior Citizens League, Getty Locations: U.S, Norway, Switzerland, Iceland, Ireland, Luxembourg

☆ Stock futures are little changed as Wall Street awaits key consumer inflation data: Live updates
▼ + stars: | 2023-09-12 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Tuesday night as investors looked toward the release of the consumer price index for more insights on inflation. S&P 500 futures lost 0.02%, while Nasdaq 100 futures ticked up 0.04%. Economists are estimating a 3.6% year-over-year rise in inflation, according to Dow Jones. Fed funds futures pricing data indicate a 93% probability of rates remaining the same as of Tuesday evening, according to the CME FedWatch Tool. If there's a higher-than-expected number, it kind of reaffirms the narrative that wage inflation is driving structural inflation in the overall economy," Stucky said.

Persons: Dow Jones, Matt Stucky, Stucky Organizations: Dow Jones, Nasdaq, Apple, Oracle, CPI, Northwestern Mutual Wealth Management Company

☆ The CNBC FA 100 ranking recognizes advisory firms that help clients navigate big financial decisions
▼ + stars: | 2023-09-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Our mission is the primary driver behind the CNBC FA 100 list, now in its fifth year, which ranks the nation's top financial advisor firms. The CNBC FA 100 highlights firms that help clients navigate decisions beyond their investment portfolio. However, "it's that volatility where I think the value of a CFP professional or a professional advisor really makes a difference," he added. It's that volatility where I think the value of a CFP professional or a professional advisor really makes a difference. 10 questions to ask your next financial advisor

Persons: we're, what's, Kevin Keller, Goldman Sachs, there's Organizations: CNBC, AccuPoint Solutions, SEC, CFP, Federal Reserve Locations: Northwestern, U.S

☆ 56% of Americans say they're not on track to comfortably retire—how to catch up
▼ + stars: | 2023-09-08 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

Regardless of how they define it, 56% of Americans agree they're not on track to retire comfortably, according to the latest CNBC Your Money survey conducted by SurveyMonkey. Here's how to tell if you're on track to meet your retirement goals and a few tips to catch up if you're behind. To see if you're on track for retirement, you first need an idea of when you want to stop working. On average, Americans say they'd need around $1.3 million to retire comfortably, a recent Northwestern Mutual study found. While only 11% report maxing out their 401(k) contributions, 46% of people say they're contributing as much as they can afford, CNBC's Your Money survey found.

Persons: they're, it's, Annette VanderLinde, Roth Organizations: CNBC, SurveyMonkey, Northwestern Mutual, Liberty Wealth Advisors, Prime Capital Investment Advisors Company, Roth IRA Locations: downturns

☆ The real reason you're using 'Girl Math' isn't as funny as the TikTok trend would make you think
▼ + stars: | 2023-09-06 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +5 min

"Girl Math" is the humorous TikTok trend where users justify expenses with tricks. "Girl Math" may just be "Buy Now, Pay Later" in disguise, the experts said. "To me, the popularity of the "Girl Math" trend indicates a lot of pent-up guilt around our purchases," said Barrow. That's why it's important to disclose when "Girl Math" is humor instead of fact, said Sara Samuels, a wealth management advisor at Northwestern Mutual. AdvertisementAdvertisementFinancial educator Ellis even suggests setting aside money for savings or an emergency fund every time you make a "Girl Math" purchase.

Persons: Sam James, —, Ashley Morris, Isabel Barrow, Barrow, Erin Ellis, Ellis, Edelman's Barrow, Sara Samuels, Morris Organizations: Service, Consumer Financial Protection Bureau, Philadelphia Federal Credit Union, Northwestern Mutual Locations: Wall, Silicon, Philadelphia, Barrow

☆ Here's why Northwestern's Brent Schutte is expecting a mild recession
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Northwestern's Brent Schutte is expecting a mild recessionBrent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company, joins 'Squawk on the Street' to discuss what Schutte makes of the latest economic data, if a recession would be healthy for the economy, and Schutte's overweight on value stocks.

Persons: Brent Schutte, Schutte Organizations: Northwestern Mutual Wealth Management Company

☆ Investor who studied at Harvard's 'Happiness Lab' shares the No. 1 thing that 'actually drives happiness'—it isn't money
▼ + stars: | 2023-08-23 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Alexa von Tobel learned at Harvard University that money doesn't buy happiness. But despite her own financial success, von Tobel, 39, says she's derived the most happiness throughout her career from "the intangibles that money can't buy." "Through my time at Harvard's Happiness Lab during my undergrad years, I really gained a new perspective on what drives happiness," von Tobel tells CNBC Make It, adding: "What actually drives happiness are the simple routines and the daily rituals in our lives that create community and connectedness." In college, von Tobel earned Magna Cum Laude honors for a senior thesis on happiness in the small country of Bhutan, according to her LinkedIn profile. "The daily effort drives happiness, not the outcome," says von Tobel.

Persons: Alexa von Tobel, She's, von Tobel, she's, Von Tobel, Tal Ben, Shahar, Shawn Achor, It's, Warren Buffett Organizations: Harvard University, Northwestern Mutual, Harvard, CNBC, Magna Cum Laude Locations: Bhutan, LearnVest

☆ A recession is only delayed as the economy continues to lose steam. Here's exactly how 8 top strategists and money managers recommend investing in this turbulent market.
▼ + stars: | 2023-08-16 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

Now, the inverse has happened as stocks rally, inflation steadily falls, and the labor market stays healthy. By any historical measure, this is still a really strong labor market," he said. "There's a lot of market concern — understandably so — about the sustainability of the strong labor market," Porter said. "There are clear signs that we're weakening at the margin," Schurmeier said of the labor market. "And they're able to thread the needle on the other part of their mandate, which is the labor market."

Persons: John Porter, Jason Draho, Porter, David Lebovitz, Lebovitz, they're, Draho, Jonathan Curtis, Curtis, Brent Schutte, Schutte, Jake Schurmeier, Schurmeier, they'll, shouldn't, Charles Lemonides, Lemonides, Greg Calnon, Calnon, Franklin Equity Group's Curtis, he's Organizations: Newton Investment Management, UBS Global Wealth, Asset Management, Franklin Equity Group, Workers, Northwestern, Harbor Capital Advisors, Fed, Goldman Sachs Asset Management, Franklin Equity

☆ 'This reminds me a lot of 1999 to 2000': An investment chief warns that a recession is right around the corner despite overboard bullish sentiment — and shares the 3 best ways to protect your portfoli
▼ + stars: | 2023-08-13 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Investors are ignoring the parallel between today's market and 1999, an investment chief warns. Brent Schutte, the chief investment officer for Northwestern Mutual's wealth management arm, isn't sure this year's returns have staying power. "This reminds me a lot of 1999 to 2000 where a small group of stocks kept pulling the market higher," Schutte said in a recent interview with Insider. Unless there's a sudden influx of workers that drives down wage growth through competition, the investment chief said the economy will steadily lose momentum. 3 ways to protect your portfolio nowDespite the recent market pullback, investors don't seem to be too worried.

Persons: Brent Schutte, Schutte, you've, they're, hasn't, Schutte isn't Organizations: Northwestern, CPI, Workers

☆ The No. 1 thing successful people never do, from an investor who sold her startup for $375 million
▼ + stars: | 2023-08-09 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

It takes confidence to launch your own business, but overconfidence can be a recipe for failure. That's why Alexa von Tobel warns not to get too caught up in your own success. People were clearly excited about the business, and von Tobel knew she'd "hit [on] something" with the idea. As a first-time entrepreneur, von Tobel didn't get carried away with her company's early success. Making sure you retain some "healthy paranoia" doesn't mean you have to live in constant fear of failure, von Tobel notes, or be afraid of celebrating wins, in order to be successful.

Persons: Alexa von Tobel, LearnVest, von Tobel, she'd, didn't, von Tobel didn't, Warren Buffett Organizations: CNBC, Northwestern Mutual Locations: Harvard

☆ How a Harvard grad school dropout launched a startup during the Great Recession—and sold it for $375 million in just 7 years
▼ + stars: | 2023-07-28 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +7 min

In 2007, while working as a Morgan Stanley analyst, von Tobel started working on a 75-page business plan. A year later, she entered Harvard Business School, assuming she'd need training and connections to launch a successful startup. She credits her detailed business plan, and her conviction that she could tap into an underserved market of people who urgently needed help. Fast forward, I went to Harvard and Harvard Business School, and I remember being taken aback that there was zero education about the wallet and our finances. I was in this extremely cozy, safe cocoon with a clear life plan.

Persons: von Tobel, Morgan Stanley, Von Tobel, Von, hadn't, would've Organizations: CNBC, Harvard Business School, Northwestern Mutual, Harvard, Alexa Locations: New York, America

UTMAs/UGMAs accounts are taxable custodial accounts set up by parents or guardians for the benefit of a minor. Unlike 529 plan accounts, which are specifically for college savings and higher-education expenses, UTMA/UGMA accounts offer more flexibility. UTMA UGMA Custodial account ✓ ✓ Flexible spending ✓ ✓ Kiddie tax ✓ ✓ Available in all US states x ✓ Allows real assets ✓ xYou can open a UGMA in all US statesUGMAs are available in all 50 US states, but you can't open a UTMA in South Carolina or Vermont. You can put real assets into a UTMAThe main difference between UGMA and UTMA accounts is that UGMA's are limited. UGMA accounts do allow the following properties:CashStocksBondsMutual fundsOther financial productsOnly UTMA accounts allow real assets like real estate and cars.

Persons: Dexter Wyckoff, UTMA, Wyckoff, doesn't, it's, you'll Organizations: Service, Northwestern Mutual Locations: Wall, Silicon, South Carolina, Vermont

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2023. The Fed lifted its benchmark overnight interest rate by a widely expected 25 basis points, marking the 11th hike in the U.S. central bank's past 12 policy meetings. As of Wednesday, 77.6% of the 152 companies listed on the S&P 500 (.SPX) that have reported earnings have beaten analysts' expectations as compiled by Refinitiv. Advancing issues outnumbered decliners on the NYSE by a 1.75-to-1 ratio; on Nasdaq, a 1.64-to-1 ratio favored advancers. The S&P 500 posted 29 new 52-week highs and no new lows; the Nasdaq Composite recorded 72 new highs and 92 new lows.

Persons: Brendan McDermid, Dow, Jerome Powell, Goldman Sachs, Angelo Kourfafas, Edward Jones, Brent Schutte, David Bahnsen, Jim Vena, Lance Fritz, Wells Fargo, decliners, Bansari Mayur Kamdar, Johann M, Savio D'Souza, Anil D'Silva, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Boeing, Dow, Nasdaq, Federal, Fed, Northwestern Mutual Wealth Management, Google, NYSE, Bahnsen, Meta, Facebook, Refinitiv, Reuters Graphics Reuters, Dow Jones, Union Pacific, Thomson Locations: New York City, U.S, Bengaluru

☆ Cheap small and mid-cap stocks see tailwinds in a recession, says Northwestern's Brent Schutte
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCheap small and mid-cap stocks see tailwinds in a recession, says Northwestern's Brent SchutteBrent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company, joins 'Squawk on the Street' to discuss opportunities in small and mid-cap stocks, hedging a recession-related equity downside with fixed-income investments, and the Fed's concerns about a wage spiral bringing inflation up.

Persons: Northwestern's Brent Schutte Brent Schutte Organizations: Northwestern Mutual Wealth Management Company

☆ To feel 'comfortable,' Americans think they need a $233,000 salary and nearly $1.3 million for retirement. Here's what experts say
▼ + stars: | 2023-07-24 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

To feel financially secure or comfortable, Americans say, they would need to earn $233,000 on average, a recent Bankrate survey found. "Inflation is the main reason why Americans feel like they need to earn so much more than they already are just to feel comfortable," said Sarah Foster, analyst at Bankrate. Meanwhile, to retire comfortably, Americans have another big number in mind — $1.27 million — according to recent research from Northwestern Mutual. Sarah Foster analyst at BankrateWhile inflation may make saving for retirement feel more strenuous, it's important not to give up altogether, she said. Live within your meansBudgeting always requires a trade-off, according to Patel — how much you're spending versus how much you're saving.

Persons: Sarah Foster, Alap Patel, they're, it's, Foster, Patel Organizations: Eyecrave, CPI, Bankrate, Northwestern Mutual Locations: Chicago

☆ With credit card interest rates at record highs, these 4 tips can help debtors beat the 'brutal' minimum payment cycle
▼ + stars: | 2023-07-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

The Covid-19 pandemic separated the haves from the have-nots when it comes to finances. Research shows that trend is continuing when it comes to debt, particularly credit cards. The top source of personal debt, excluding mortgages, is credit card debt, with 28% of respondents, the research found. What experts expectOn the other hand, 43% of adults with personal debt say those balances are at their lowest level ever or close to it. "We were all in the same storm, but not everyone was in the same ship," Patel said.

Persons: bougie, Alap Patel, Patel Organizations: Research, Northwestern Mutual, Finance Locations: Chicago

☆ Americans say they need a $233,000 salary to feel financially secure. To feel rich? They'll need more than double that.
▼ + stars: | 2023-07-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +3 min

72% of Americans are financially insecure, according to a Bankrate.com survey. Americans said they'd need to earn $233,000 to feel financially comfortable and $483,000 to feel rich. To feel rich, those surveyed said they'd need to earn, on average, $483,000 per year, nearly nine-times the median income. Mark PerryMany Americans surveyed cited insufficient emergency savings and retirement funds as evidence they're not financially secure. While many Americans may be a long way from feeling financially secure, some are optimistic that they'll get there eventually.

Persons: —, Sarah Foster, Mark Perry's, Mark Perry Organizations: Service, University of Michigan, of Labor Statistics, Northwestern Mutual

☆ Watch CNBC’s full interview with Solus’ Dan Greenhaus and Northwestern Mutual’s Matt Stucky
▼ + stars: | 2023-07-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Solus’ Dan Greenhaus and Northwestern Mutual’s Matt StuckySolus’ Dan Greenhaus and Northwestern Mutual’s Matt Stucky, join 'Closing Bell Overtime' to discuss market leaders going into the second half and how investors should position.

Persons: Solus ’ Dan Greenhaus, Matt Stucky Solus, Dan Greenhaus, Matt Stucky Organizations: Northwestern

☆ Small and mid caps would benefit from a catch-up trade, says Northwestern's Matt Stucky
▼ + stars: | 2023-07-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmall and mid caps would benefit from a catch-up trade, says Northwestern's Matt StuckySolus’ Dan Greenhaus and Northwestern Mutual’s Matt Stucky, join 'Closing Bell Overtime' to discuss market leaders going into the second half and how investors should position themselves.

Persons: Matt Stucky Solus, Dan Greenhaus, Matt Stucky Organizations: Northwestern

☆ How much Americans in their 20s need to save each month to retire at 60 with $1.2 million
▼ + stars: | 2023-06-28 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

On average, Americans in their 20s think they'll need about $1.2 million to retire to retire comfortably, according to Northwestern Mutual's "2023 Planning and Progress Study." That may seem a long way away from $1.2 million, but younger investors have time on their side when it comes to saving for retirement thanks to the power of compounding interest, investing experts say. Gen Z workers, those aged 20 to 26, expect to retire by the age of 60 — the soonest of the generational cohorts, Northwestern Mutual's study reveals. While that's a little earlier than the average retirement age of 62, it's still feasible. CNBC calculated how much someone in their 20s would need to put away each month to retire with $1.2 million at the age of 60, as well as the income level they'd need to reach in order to accomplish at a savings rate of 10% or 15%.

Persons: they've Organizations: Northwestern, CNBC Locations: Northwestern

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