Michael Morrow | Financial Planner

Wealth Management Blog

Tag: savings

blog header for michael morrow financial planner's blog post, "the best annuities for retirement."

The Best Annuities for Retirement

When it comes to planning for retirement, one can never be too diligent. After all, failing to plan for a secure financial future is equivalent to planning to fail. Therefore, one should familiarize themselves with the various financial tools available in order to optimize their savings as much as possible before retirement. One of the […]

Michael Morrow - Learn More About Sequence of Return Risk

Learn More About Sequence of Return Risk

One of the biggest concerns that retirees have is whether their nest egg will be large enough to support them during retirement. The worst case scenario that every retiree fears is experiencing a market downturn just as he or she is ready to enter retirement. Since retirees need to draw from their retirement portfolio in […]

Michael Morrow - The Dangers of Buy and Hold

The Dangers of Buy and Hold

In general “Buy and Hold” is an investment strategy where stocks are purchased and then held on to regardless of how the market performs. While the Buy and Hold strategy has many supporters who believe it is the best investment strategy, the reality is that the strategy has many drawbacks. The strategy is especially dangerous […]

Michael Morrow: Self-Directed IRAs vs. 401(k)s and Traditional IRAs

Self-Directed IRAs vs. 401(k)s and Traditional IRAs

When most people think about retirement savings they think of 401(k)s and IRAs. However, another option to consider are self-directed IRAs. While self-directed IRAs share a lot of similarities with 401(k)s and traditional IRAs, there are some important distinctions to consider. What sets self-directed IRAs apart from other options, though, are the variety of investment […]

Michael Morrow: 3 Conversion Strategies That Can Minimize Taxes In Retirement

3 Conversion Strategies That Can Minimize Taxes In Retirement

When it comes to being prepared for retirement, the majority of Americans are not in good shape. A recent study found that “less than one-third of Americans are saving money in their 401(k)s and other workplace retirement accounts” (Bhattarai). Even if you are prepared for retirement, you may be shocked by the amount of taxes […]

Michael Morrow: Home Improvement

Home Improvement Ideas to Reduce Your Taxes

If you’ve recently remodeled your home then there’s a chance you can save on your taxes. In some cases, it’s possible to deduct renovation costs. You may even be able to receive a tax credit for some renovations. If you haven’t renovated your home but you’ve been considering it, take a look at the below […]

Michael Morrow Qualified Plans

Qualified Plans

Qualified plans are any kind of employer-sponsored retirement plan or individual retirement plan. The most common employer-sponsored retirement plan is a 401(k). Both 401(k)s and IRAs are wrappers for different kinds of assets. Mutual funds tend to be the most common asset held in qualified plans. This post looks at five elements of qualified plans: […]

Michael Morrow: Mutual Funds

Mutual Funds

Mutual funds are a popular asset that many investors hold. Investopedia defines a mutual fund as “an investment vehicle made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets” (Investopedia). This post will take a close look […]

Michael Morrow: Certificate Of Deposit (CD)

Certificate Of Deposit (CD)

Certificate Of Deposit (CD)CD stands for certificate of deposit. Almost every commercial bank offers CDs. While CDs are known for being a safe place to store your money, they are also known for having very low returns. Below are some important details about CDs that will help you decide if they are right for your […]

Michael Morrow: Your Guide to 529 Plans

Your Guide to 529 Plans

A 529 plan is one of the most popular ways to save money for college. The savings plan, which was created in 1996, can be completely tax-free if used properly. The plan takes its name from Section 529 of the Internal Revenue Code. While 529 plans can’t be considered assets, they can be thought of […]

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