Dan Day : Northwestern Mutual Wealth Management Company - The Link between Disability and Retirement Funding : Article: The Link between Disability and Retirement Funding

The Link between Disability and Retirement Funding

In many ways, preparing financially for the possibility of a disability, and retirement funding are mutually supportive in securing your financial future. Each one helps replace a portion of lost earned income, meet daily living expenses and achieve a certain lifestyle. Rent, mortgage, property taxes, housing maintenance, utilities, food, clothing, car maintenance, insurance, health care and loan payments are all daily living expenses that must be considered.

Disability, the resulting loss of income, can be a major threat to your ability to earn an income and to your economic stability derailing your future retirement plans.

By planning ahead to cover these costs during disability and retirement, you can maintain your standard of living. For those people without disability insurance, the onset of a disability can derail a savings program earmarked for retirement years and run the risk of jeopardizing their financial future.

Disability income insurance protects your ability to earn an income by guaranteeing monthly payments if your ability to work is impaired by sickness or injury. Unfortunately, for many, insuring their current income and lifestyle is never addressed — an oversight that can lead to eroded retirement savings, should work disability unexpectedly strike.

Try the Disability Insurance Needs Calculator* located under the calculator section of this website to help you get an idea of the amount of disability insurance you may need.

Income Replacement, Family Protection and Estate/Asset Preservation are some of the benefits of disability income insurance. Those who prepare to protect their income during disability and retirement will remain in better control if and when those times arise with minimal impact on their family's finances today and tomorrow.

*www.nmfn.com | Learning Center | Calculators

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Northwestern Mutual Financial Network is the marketing name for the sales and distribution arm of The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM), and its subsidiaries and affiliates. Daniel Macleish Day is a Representative of Northwestern Mutual Wealth Management Company®, Milwaukee, WI (WMC), a wholly-owned company of The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM), and limited purpose federal savings bank. All financial planning, investment management and trust services are offered only through WMC by properly credentialed Representatives who operate from agency offices of WMC. WMC is not a broker-dealer or insurance company and does not offer insurance products or brokerage services. Representative is an Insurance Agent of NM (life insurance, annuities and disability income insurance) and Northwestern Long Term Care Insurance Company, Milwaukee, WI, a subsidiary of NM (long-term care insurance), and a Registered Representative of Northwestern Mutual Investment Services, LLC (NMIS), 707 17th St Ste 3700, Denver, CO 80202-3404, 303-390-5750, a wholly-owned company of NM, broker-dealer and member FINRA (www.finra.org) and SIPC. All brokerage services are offered only by NMIS. NM and The Cunningham Financial Group are not broker-dealers, registered investment advisers or federal savings banks. There may be instances when this agent represents insurance companies in addition to NM or its affiliates.

Investment products are not insured by the FDIC, are not deposits or other obligations of, or guaranteed by, NMWMC or its affiliates and are subject to investment risks, including possible loss of the principal amount invested.

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Daniel Macleish Day is primarily licensed in Colorado and may be licensed in other states.