Page 101 - Mumme Booklet

DRAFT

DISCLOSURES

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Assumptions in Your Plan: Planning is useful for a variety of obvious reasons, but under no circumstances
should you believe that this plan is a prediction or projection about the future. In some parts of this plan, you
estimate what you think your income and expenses will be in the future. You may also estimate inflation,
taxes, and how your investments will perform. Think of this plan as one large “what if” scenario. You may
instruct your wealth management advisor to use any assumptions that you believe are appropriate for your
plan. Your wealth management advisor, NM, and its subsidiaries are not projecting or forecasting that the
rates that you see in your plan will occur in the future. Charts or illustrations used in this plan are for
illustrative purposes and are not intended to represent the performance of any insurance product or
investment.

Social Security Benefits and Your Plan: You may have heard reports in the media questioning the
solvency of Social Security. Some clients have asked to not include anything in their plan regarding Social
Security, being uncertain as to its future. Although you may choose to exclude assumptions about Social
Security from your plan, this not a recommended approach, as current research has shown that even when
the Social Security trust fund is emptied, there will be enough in projected tax revenue to fund a good
percentage of benefits. According to the 2017 Social Security Trustees Report, the combined trust fund
becomes depleted in 2034. After trust fund depletion, continuing income is sufficient to cover 77% of benefits,
declining to 73% by 2091. We suggest you take this information into account in making assumptions about
Social Security in your plan.

This publication was compiled by Northwestern Mutual and does not contain legal or tax advice. It is
intended solely for the information and education of Northwestern Mutual clients and their legal or tax
advisors. It is not intended to be used and cannot be used to avoid any federal tax penalties that may
be imposed on a taxpayer. Taxpayers should seek advice regarding their particular circumstances
from an independent legal, accounting, or tax advisor. Tax and other planning developments after the
original date of publication may affect these discussions.

The Information in Your Plan: The information contained in this plan is for informational purposes only and
may not reflect all policies, holdings or transactions, their values, costs, charges, or proceeds in your portfolio.
This plan was prepared based on information provided by you and by various other sources. This plan is not
an official document or account statement, and has not been audited or verified. The plan may reflect assets
or accounts not held through NM or its affiliates. Certain accounts may not currently exist but are assumed or
anticipated to exist in the future. You provided the information upon which this plan was prepared however,
for some assets that are held with NM or its subsidiaries, your wealth management advisor may have chosen
to gather some of the information in this plan from sources including The Northwestern Mutual Life Insurance
Company and Northwestern Long Term Care Company, NMIS, NMWMC, Pershing LLC, member FINRA,
NYSE and SIPC (the carrying broker-dealer for NMIS accounts and most NMWMC accounts), and Albridge
Solutions (data consolidation). Some investment assets included in this report may be “Direct to Fund”
accounts, which mean those assets are maintained and controlled by a mutual fund family or its transfer
agent, not NMIS or its clearing broker Pershing. NMIS is a member of SIPC (Securities Investor Protection
Corporation), which protects the value of securities in customers' NMIS accounts up to $500,000 (including
up to $250,000 for claims for cash). Assets in Direct to Fund accounts held by outside mutual fund families
are not covered by NMIS’ SIPC coverage. An explanatory brochure concerning SIPC is available upon
request or at www.sipc.org. For additional information regarding excess SIPC protection that NMIS’ clearing
firm, Pershing, carries through a private insurer, Lloyds of London, please see www.Pershing.com. For
answers to any questions regarding an outside mutual fund family’s SIPC coverage, you may either contact
your wealth management advisor or the appropriate mutual fund family, or refer to the mutual fund family’s
statement regarding SIPC membership. SIPC coverage does not protect against potential losses due to
market fluctuation.

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This plan is not complete without the Assumptions and Disclosures pages appearing at the end.
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