Munroe Morrow Wealth Management

In this exclusive webinar, Greg Munroe will talk about 5 strategies he recommends when trying to protect clients’ wealth from taxes and building a legacy for generations to come. You’ll walk away with concrete steps to improve your tax efficiency and safeguard your wealth. Register now to hear Greg’s top 5 recommendations!

🎉 14 Years Strong! 🎉 This month we are celebrating 14 incredible years of Munroe Morrow Wealth Management! We are deeply grateful for the trust, confidence, and relationships we've built with our wonderful clients. Your support has been the foundation of our success, and it’s an honor to help you navigate your financial lives. Our focus remains on serving those preparing for retirement, busy executives, and dedicated business owners looking to align their finances with their goals. As our team continues to grow, we’re looking to take on more clients and help even more people and communities achieve financial clarity and peace of mind. Here’s to 14 years of growth, trust, and impact—and many more to come! 💙

🚨 Finish 2024 Strong: Financial Tips for the Home Stretch 🚨 The end of the year is the perfect time to take action and set yourself up for success in 2025. Here are a few quick reminders: ✔️ Maximize Retirement Contributions: Review your contributions to 401(k)s and 403(b)s before December 31st. Limits for 2024: $23,000 (<50), $30,500 (50+). Not maxing out? That’s okay! Focus on at least contributing enough to get your company match—it’s free money! ✔️ Explore Roth Options: Consider Roth 401(k)/403(b) contributions to build tax-free income for retirement. ✔️ Plan for 2025 Changes: Contribution limits are rising: $23,500 standard; $34,750 for ages 60-63 (higher catch-up). ✔️ Tax Efficiency Strategies Tax Loss Harvesting: Offset gains by selling underperforming assets. Charitable Contributions: Can now deduct donations on your MA state return. Roth IRA Conversions: Lower income this year? It might be a good time to convert. ✔️ Rebalance Your Portfolio After a strong market year, check your allocation and rebalance if needed. ✔️ Cash & Health Insurance Checkups High-yield savings rates are falling; consider alternatives like municipal bonds. HDHP? Don’t forget to maximize your HSA contributions—triple tax benefits! 💡 These are just a few ways to optimize your finances before year-end. Ready to take action? Let’s connect. #personalfinance #RetirementTips

The yield on the 10-year treasury has continued rising now standing at just shy of 4.2%. This kind of “backup” in yields is unusual in an easing cycle. Explanations run the gamut, but this could reflect increased odds of a Trump victory in November. https://ow.ly/jfY150TR5bO

🏃♂️🏃♀️ We had a blast at Paddy's Road Race this past Sunday! With nearly 3,000 participants, the event helped support Newton Athletes Unlimited, an amazing organization dedicated to providing recreational programs for individuals with disabilities. Shoutout Matthew Morrow, Kelsey Strait, and Kyle Hurley, CPA from the MM team for giving it their best (we are not a running team...) We gladly accept the challenge put out there by Mark Kelly, Director of Special Needs for Newton Parks & Recreation, to make the world a better place and make a positive impact in our communities. Check out Newton Athletes Unlimited and get involved today! #PaddysRoadRace #NewtonAthletesUnlimited #CommunityFirst #PositiveImpact

💡 The Stock Market: A Path to Building Wealth Over Time 📈 When it comes to investing, setting realistic expectations is key. Historically, the S&P 500 has averaged returns of 8-10% annually, but that doesn’t mean you should expect those returns each year. In fact, stocks can deliver much higher returns more often than you might expect. Over the past 150 years, the S&P 500 has posted gains of over 10% in 43.6% of the years. 📊 While the road may be bumpy at times, long-term investors can take advantage of the market’s ability to grow wealth. With high potential returns, liquidity, and low cost, stocks remain one of the most effective ways to build financial security for the future. Source - Graphics provided by Visual Capitalist. #Investing #WealthManagement #FinancialFreedom #StockMarket #LongTermInvesting

Are you looking to boost your savings beyond your 401(k) or IRA contributions? A taxable investment account can be a powerful tool to supplement your retirement strategy. It provides flexibility, especially if: 1. You don’t have access to a 401(k) plan. 2. You’ve maxed out your retirement contributions. 3. You plan to retire before 59 1/2 and need access to your long-term investments without penalties. 4. Your IRA options are limited or nondeductible. Tax diversification across pretax, Roth, and taxable accounts helps you prepare for an uncertain tax landscape while keeping your retirement goals on track. #FinancialPlanning #TaxStrategies #WealthManagement #RetirementPlanning #TaxableAccount

Are you looking to retire in the next 5-10 years? If so, your focus should be on cash flow and liquidity. Even if your monthly bills are manageable, carrying debt into retirement can limit your options and flexibility. We help our clients look at the big picture and ask, "What are we building?" By spreading your investments across different funds and accounts, you’ll gain the financial flexibility needed to handle life’s unexpected events. This approach can also help you manage your income, potentially avoiding Medicare surcharges and other medical premiums. At the end of the day, it’s about positioning yourself now for a secure future. Flexibility is priceless, especially when you’re on a fixed income. Curious to see where you stand or how you are pacing? Reach out to us—we’re here to help. #retirementplanning #financialfreedom

🔍 Common 401(k) Mistakes to Avoid: With traditional pensions on the decline, more responsibility now falls on individual savings. Most employees have access to a 401(k) or 403(b), which can reduce your taxable income and build savings consistently. However, many make these common mistakes: 𝟏. 𝐍𝐨𝐭 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐧𝐠 𝐄𝐧𝐨𝐮𝐠𝐡 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐌𝐚𝐭𝐜𝐡: Don't leave free money on the table! 𝟐. 𝐍𝐞𝐯𝐞𝐫 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧𝐬: A 1% annual increase can significantly boost your savings. 𝟑. 𝐁𝐞𝐢𝐧𝐠 𝐓𝐨𝐨 𝐂𝐨𝐧𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐯𝐞 𝐰𝐢𝐭𝐡 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬: Take advantage of long-term growth potential. 𝟒. 𝐌𝐚𝐱𝐢𝐧𝐠 𝐎𝐮𝐭 𝐓𝐨𝐨 𝐄𝐚𝐫𝐥𝐲 𝐢𝐧 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫: You might be missing out on employer match money. 𝟓. 𝐈𝐠𝐧𝐨𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐑𝐨𝐭𝐡 𝟒𝟎𝟏(𝐤) 𝐎𝐩𝐭𝐢𝐨𝐧: Even small contributions can grow into significant tax-free income. 𝟔. 𝐍𝐨𝐭 𝐔𝐬𝐢𝐧𝐠 𝐂𝐚𝐭𝐜𝐡-𝐔𝐩 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧𝐬 𝐢𝐟 𝐎𝐯𝐞𝐫 𝟓𝟎: Boost your savings if you feel behind. 𝟕. 𝐍𝐞𝐠𝐥𝐞𝐜𝐭𝐢𝐧𝐠 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐢𝐞𝐬: Regularly review and update your beneficiaries. 𝟖. 𝐂𝐚𝐬𝐡𝐢𝐧𝐠 𝐎𝐮𝐭 𝐈𝐧𝐬𝐭𝐞𝐚𝐝 𝐨𝐟 𝐑𝐨𝐥𝐥𝐢𝐧𝐠 𝐎𝐯𝐞𝐫: Avoid taxes and penalties by doing a rollover. By avoiding these pitfalls, you can better ensure your 401(k) helps you achieve your retirement goals. Need help reviewing your retirement plan? Reach out today! #FinancialPlanning #401k #Retirement #WealthManagement

It’s been a resilient first half of 2024. Will it continue through the election – and year-end? #LPLResearch weighs in. Check out LPL Financial's 2024 Midyear Outlook: Still Waiting for the Turn. https://ow.ly/J3b150SyLJE