One of the most common questions I receive from clients is:

"How can I get more money into Roth accounts?"

It's a great question—and an important one.

Roth accounts can be one of the most powerful tools available for retirement planning. While contributions are made with after-tax dollars, the money grows tax-deferred and can ultimately be withdrawn tax-free in retirement. For investors who believe tax rates may be higher in the future, building tax-free retirement income can be extremely valuable.

One of the most common questions I hear from pre-retirees and retirees is:

“Is $1 million enough to retire?”

It’s a fair question—and one that’s become even more common as inflation, healthcare costs, taxes, and market volatility continue to shape retirement planning conversations.

The honest answer?

It depends.

For some retirees, $1 million may be more than enough. For others, it may fall well short of what’s needed to sustain their lifestyle.

The key is not focusing on a single round number—it’s understanding your retirement income needs, expenses, tax exposure, and withdrawal strategy.

If you’ve ever searched online for the term “financial advisor,” you’ve likely found dozens of different definitions—and even more titles.

Financial advisor. Wealth manager. Financial planner. Investment advisor. Retirement specialist. Fiduciary advisor.

So what exactly does a financial advisor do? And more importantly…

How do you know if you need one?

After more than two decades in the financial services industry, I’ve found that many people don’t seek financial advice until they’re facing a major life event—retirement, selling a business, inheriting money, losing a spouse, or simply realizing they’re not as confident managing their finances as they once thought.

Losing a spouse is one of the most difficult experiences anyone can go through. In addition to the emotional grief, the surviving spouse is often left with many financial responsibilities that may feel overwhelming—especially if they were not the person handling the household finances.

If your spouse recently passed away, the first priority is to take time to grieve, handle funeral arrangements, and honor any wishes your spouse had. After that, there are several important financial steps to work through.

For many people, age 65 is the “magic number” for retirement. A big reason for that is Medicare eligibility begins at age 65. Years ago, 65 was also the full retirement age for Social Security, but that has since increased to between 66 and 67, depending on the year you were born.

While retiring at 65 may make sense for some, there are also several potential benefits to working beyond age 65. In this article, we’ll cover five reasons why delaying retirement may improve your financial flexibility, retirement income, and overall long-term plan.

There are many factors that come together to determine if someone is ready for retirement. While financial preparedness is often at the forefront, there are a number of other topics one must consider to ensure they understand how they want to spend their golden years—and can quantify how much they’ll need to make it happen.

In this article, I will cover 5 crucial questions you should be able to answer when planning for retirement. Please keep in mind, these are just 5 of the many questions we walk our clients through during a financial planning engagement. However, these 5 will help you develop a solid understanding of what retirement looks like for you—and what it might take to make that vision a reality.

Retirement in Connecticut comes with a mix of financial opportunities and planning challenges—especially when it comes to state income taxes. While Connecticut does tax some retirement income, it also provides some of the most generous exemptions in the region for Social Security, pensions, and retirement account withdrawals.

Understanding how these rules work can help retirees reduce unnecessary tax exposure and make more informed income decisions in retirement.

Below is a clear breakdown of how Connecticut taxes retirement income and the key exemptions that may apply.

For many, their 60s represent one of the most important financial transitions of their life. After decades of accumulating wealth, the focus now shifts to preserving their assets, generating reliable income, and ensuring their money lasts as long as they do.

With tax season in full swing, it’s the perfect time to highlight a costly — and surprisingly common — mistake made by employees of large public companies who receive Restricted Stock Units (RSUs) as part of their compensation.

Many individuals unknowingly pay taxes twice on their RSUs when they sell them. The fix is straightforward — but if you don’t know what to look for, you could overpay the IRS and never realize it.

Let’s break it down step-by-step so you can avoid this pitfall.

Today we’re going to discuss updates made by the famed financial planner William Bengen. You may not recognize his name; however, it is very likely you’re familiar with his work. He was the financial planner who first introduced the concept of the 4 percent rule for retirement portfolio withdrawals back in 1994.

Learn how to use a Mega Backdoor Roth strategy inside your 401(k) to reduce taxes, avoid RMDs, and maximize tax-free retirement income.

One of the most common questions pre-retiree’s have when be beginning to develop their plan for retirement is, how much is enough? Today I am going to cover a comprehensive analysis you should work through to determine what the magic number is for your retirement plan. There are a lot of numbers thrown around. Some people think they need half a million, a million, two million, three million. But what is the number? Well, that is a complicated question, the reality is that it's specific to you.

By following these five steps you will be able to get a better handle on what the funding needs are for your ideal retirement, let’s begin.

One thing most financial experts agree on is that everyone should keep three to six months of living expenses in an emergency fund. But in reality, many pre-retirees do not have that amount saved in non-retirement accounts. Instead, much of their savings is tied up inside retirement plans like a 401(k).

That creates a problem when an unexpected expense arises.

Normally, you cannot access retirement funds before age 59½ without triggering a 10% early withdrawal penalty, in addition to ordinary income taxes. However, a recent rule change now allows limited penalty-free access in certain emergency situations.

If you're nearing age 65 and trying to understand Medicare — the "alphabet soup" of Parts A, B, C, and D — this guide will help you get up to speed.

Today we’ll cover:

• The different parts of Medicare (A, B, C, and D)

• The costs associated with each

• Late enrollment penalties

• When to enroll (and when you can delay)

• Medicare Advantage vs. Medigap

• Common mistakes to avoid

As of January 1, 2026, several important changes have taken effect that impact Social Security benefits. Some of these updates affect current retirees, while others impact future retirees and those still working.

Here’s a breakdown of the six biggest Social Security changes for 2026—and how they may affect your retirement plan.

Health Savings Accounts (HSAs) are one of the most powerful financial tools available — yet many people are not using them correctly.

After reviewing client accounts and outside investments, I continue to see costly mistakes that prevent people from maximizing the full potential of their HSA.

Because HSAs are the only triple tax‑free account available, mismanaging them can mean leaving significant money on the table.

Let’s walk through the five biggest mistakes to avoid.

If you’re already contributing the maximum to your 401(k), you might be wondering: Can I still contribute to an IRA?

The short answer is: yes, potentially — but the details matter.

In this article, we’ll walk through:

• Whether you can contribute to an IRA while maxing out a 401(k)

• When a traditional IRA contribution is deductible

• What to do if your income is too high for a deduction

• Roth IRA and backdoor Roth options

Understanding these rules can help you get more tax efficiency and flexibility out of your retirement savings.

On November 14th, 2025, The Centers for Medicare & Medicaid Services (CMS) has announced the 2026 premiums, deductibles, and coinsurance amounts for Medicare Parts A and B, along with the 2026 income-related monthly adjustment amounts for Medicare Part D.

At Morrissey Wealth Management, we annually project and review our client’s modified adjusted gross income (MAGI) to avoid triggering unwanted Medicare premium increases when possible. In 2026, the standard Medicare part B premium has been increased, in addition to the income-related monthly adjustment amounts. The increase to the standard premium, as reported by the Centers for Medicare & Medicaid Services, is mostly a result of projected price changes and assumed utilization increases that are consistent when cross referenced with historical data.

If you’re married (or were married for at least 10 years), you may be eligible for spousal Social Security benefits—but the rules are more nuanced than most people realize.

In this article, we’ll break down:

• What spousal Social Security benefits are

• Who qualifies and when

• How claiming age affects the benefit

• A real-life example showing how the rules play out

• Common mistakes to avoid

Whether you’re nearing retirement or already collecting benefits, understanding spousal benefits can make a meaningful difference in your lifetime income.