Press release
The Northern Trust Institute Releases 2022 Wealth Planning Outlook: “Wealth, Redefined”
Annual report explores five societal changes and offers corresponding wealth planning strategies CHICAGO--(BUSINESS WIRE)-- The Northern Trust Institute
About this update from Northern Trust Corporation
[{"type":"text","content":"\nAnnual report explores five societal changes and offers corresponding wealth planning strategies\n\n CHICAGO--(BUSINESS WIRE)--\nThe Northern Trust Institute today announced the release of its annual Wealth Planning Outlook: Wealth, Redefined. The Outlook offers forward-looking perspectives on wealth planning for business owners, executives, multigenerational families and other wealth owners. The 2022 report examines how shifting values, primarily driven by the global pandemic, have given investors the resolve to pursue what matters most as we enter a new phase of recovery and transformation.\n\n“This year’s Outlook explores significant developments fueled by the COVID-19 crisis: a heightened awareness of purpose — whether fulfilling one’s personal potential or promoting one’s values through more deliberate investing and giving; a more profound sense of our own and our loved ones’ human fragility; and the startling embrace of technology by millions,” said Northern Trust Chief Fiduciary Officer Pamela Lucina. “Armed with a greater understanding of how these changes impact wealth planning, families can take action to achieve what is most meaningful to them as transitions occur in their families and finances.”\n\nWealth, Redefined examines how five societal changes are evolving and offers corresponding wealth planning strategies, including:\n\n\nReinventing Retirement – Shifting perspectives on “retirement” are leading many to rethink this stage of life, with more people finding fulfillment in a second chapter or direct investment venture.\n\n\n\nPlanning for Tax Uncertainty – Though it faces an uncertain future in the Senate, the Build Back Better Act proposes several significant changes to the tax code. The underlying uncertainty stresses the need to build flexible plans that can adapt to changing circumstances.\n\n\n\nCreating Value from Values – The rapid evolution of ESG investing and philanthropic giving vehicles is driving increased interest among investors in aligning their portfolios with their values. But there continues to be challenges with doing so effectively and measuring the impact of these investments.\n\n\n\nPreparing for Disability – Mental illness, already on the rise prior to the pandemic, has increased dramatically in the last two years. The uncertainty associated with mental health and disability can have v...