37 episodes

Are you busy with your life, but know there are smarter things you could be doing with your money? Are you confused by all the financial jargon and overwhelmed by the options?

Breakthrough the complicated financial landscape with easy-to-understand information and strategies that you can actually follow. I discuss how to become wealthy: tips and habits to change in your life to achieve financial freedom. I dive into topics such as savings, investing, education planning, insurance, tax planning, and more. If it's related to financial planning and financial success, you can be sure we'll cover it.

I love to discuss listener questions, so please connect and follow me at https://www.linkedin.com/in/mwsmorton

Financial Planning for Entrepreneurs and Tech Professionals Mike Morton, ChFC®

    • Business
    • 5.0 • 2 Ratings

Are you busy with your life, but know there are smarter things you could be doing with your money? Are you confused by all the financial jargon and overwhelmed by the options?

Breakthrough the complicated financial landscape with easy-to-understand information and strategies that you can actually follow. I discuss how to become wealthy: tips and habits to change in your life to achieve financial freedom. I dive into topics such as savings, investing, education planning, insurance, tax planning, and more. If it's related to financial planning and financial success, you can be sure we'll cover it.

I love to discuss listener questions, so please connect and follow me at https://www.linkedin.com/in/mwsmorton

    Should you Invest in this Hot investment?

    Should you Invest in this Hot investment?

    Julie heard about a real estate investment idea on the radio and was curious: Should I invest in this advertisement?
    We break down the topic into two parts:
    Should you invest in Real Estate?
    How do you evaluate an investment opportunity that you are considering?
    Bottom Line Up Front:
    Yes, I believe that Real Estate has a place in a well-diversified investment portfolio.
    Pause, research, and understand how a potential investment fits into your strategy and goals.
    Find out more about Mike athttps://www.mortonfinancialadvice.com/ ( https://www.mortonfinancialadvice.com) and connect athttps://www.linkedin.com/in/mwsmorton/ ( https://www.linkedin.com/in/mwsmorton/)

    • 14 min
    How to use your HSA as a Retirement Account

    How to use your HSA as a Retirement Account

    I often recommend using your Health Savings Account (HSA) as another retirement account with tax benefits. This is different than the way most people approach the HSA because it starts with the word “Health” and you can pay for medical expenses. But you can invest the money for the far future allowing it to grow and compound tax-free. The best part is that you can even pay yourself back for medical expenses that you are incurring now!
    Listen as Julie and I discuss how to actually use this account including:
    How to choose the right health plan for you
    Who contributes money to your HSA and when
    How to pay for current medical expenses and what to track
    How to invest your HSA for the future
    How the HSA can be used as an emergency fund!
    Find out more about Mike athttps://www.mortonfinancialadvice.com/ ( https://www.mortonfinancialadvice.com) and connect athttps://www.linkedin.com/in/mwsmorton/ ( https://www.linkedin.com/in/mwsmorton/)

    • 24 min
    What do your Investments Cost?

    What do your Investments Cost?

    Did you know that your investments cost money? Those mutual funds, ETFs, brokerage accounts, etc - are not free, despite the marketing. It takes people and companies to produce those products, so you better believe you are paying for them somehow. It pays to understand the costs.
    The biggest one I want to cover today is called the “Expense Ratio” for a mutual fund or ETF because this is a yearly fee deducted from your investments. For any fund that you own, you can quickly look up the expense ratio which will be somewhere between 0% and 2%. If all your funds are in that 0-.2% range, you are doing well.
    There are legacy funds that charge up to 1% or 2% but invest in the same universe of stocks as funds costing just .1% ! Do a quick checkup to confirm you aren’t in one of those.
    Tune in to hear:
    Why do funds have different fees?
    When might it be OK to invest in a fund with a higher expense ratio?
    What other fees are beyond the expense ratio.
    Find out more about Mike athttps://www.mortonfinancialadvice.com/ ( https://www.mortonfinancialadvice.com) and connect athttps://www.linkedin.com/in/mwsmorton/ ( https://www.linkedin.com/in/mwsmorton/)

    • 23 min
    The Lesson I Learned in March 2020

    The Lesson I Learned in March 2020

    Do you recall how you felt in March 2020? You felt terrible. How do I know? Everyone did. The news was bad, the future uncertain, the death toll rising and current events were spiralling downwards. The market had fallen 35% in 3 weeks. There were no bright spots.
    With the news and environment unchanged, the stock market started going up. And it kept going. Why? The participants could see over the chasm of closed and failing businesses to more online shopping?
    For every turn in the market, on a daily basis, the talking heads will give you a reason why. It’s always written after the fact. And the lesson I learned first-hand last year was this: there is no reason. Sure, maybe over years of economic growth and stability, the markets go up. But any given day, month or year - no one has any idea what the market will do.
    So, what to do? That’s the important part: be ready for anything and take what the market gives you. It goes up? Rebalance back to bonds, be slightly more defensive. It goes down? Rebalance into stocks, be slightly more aggressive. Ignore the news, look at the numbers and take what you’re given.
    Find out more about Mike athttps://www.mortonfinancialadvice.com/ ( https://www.mortonfinancialadvice.com) and connect athttps://www.linkedin.com/in/mwsmorton/ ( https://www.linkedin.com/in/mwsmorton/)

    • 23 min
    Has Risk Changed?

    Has Risk Changed?

    We all know that you can barely get any interest, or return, on your savings account. The Fed is keeping the interest rate very low, which translates into low returns on savings and safe assets like money markets and government bonds. With so little return in the traditional fixed-income side of your portfolio, does that fundamentally change the way you should consider risk?
    It used to be that you could get 4-5% interest on fairly safe investments like your savings account and money market accounts. Therefore, to invest in more risky assets like an individual stock or the entire stock market, you would expect to get more than 5%. Seeking risk wasn’t the safe thing to do, avoiding it was. But now we’re in the opposite regime: you have to actively seek out risky investments in order to get a decent return.
    It’s important to understand the associated risks of your investments. Make sure that you know what the range of future outcomes could be, and how that might affect your ability to reach your goals. Be confident with a plan on how you will proceed in any given market event.
    Resources:
    https://www.wsj.com/articles/what-youve-lost-in-this-bull-market-11630677610 (What You’ve Lost in This Bull Market)

    • 19 min
    How you should think about Risk

    How you should think about Risk

    We all know the risks, we understand how to think about the pros and cons of a decision. But when it comes to the stock market, are you certain you’re thinking about it the right way?
    The risk isn’t that your portfolio goes down in value, the risk is that you can’t reach your goals. What are your goals and when do you want to reach them? When do you expect to spend the dollars that you put into the market today?
    I think about risk as either:
    You permanently lose money
    OR
    You do not reach your goals
    If you have long-term goals that require money, the biggest risk you take is not investing in the stock market. It’s one of the safest places to make a long-term investment and not lose purchasing power.

    • 21 min

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