What Should I Do With My Money?

Growing your family is a very exciting time. Baby fever may have prepared you emotionally, but have you considered if you’re financially prepared? In this episode, our guests Nat and Kel are obsessed with this question. Though they are a financially savvy couple, they wonder what it’ll take to grow their family while saving for other goals. And it’s not just about preparing for a baby, but what comes next. As a content creator, Nat wonders how she can maintain her career momentum while raising a child. For Kel, he worries about upgrading to a larger home in a tough mortgage rate environment. Morgan Stanley Financial Advisor, Danelle, guides them through each question, helping them navigate the anxieties of impending parenthood. They confront these universal challenges and unpack what it takes to feel prepared, or if the solution lies within their evolving financial plan. For more information about this episode and the topics covered, check out our episode page and explore how you can connect with a Morgan Stanley Financial Advisor.  DISCLOSURESThe conversation in this podcast is solely intended as a case study between a client/prospective client with a Financial Advisor and is not intended to serve as individualized investment or financial advice. No portion should be construed as a recommendation to employ any of the guidance contained within this podcast. Each investor has their own unique facts and circumstances and must determine what is appropriate for their own situation. Participants in this podcast are not compensated and are not affiliated with Morgan Stanley.This material has been prepared for general reference and educational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Please see our show notes for a full disclaimer on the information provided.When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.Investors should consider many factors before deciding which 529 plan is appropriate. Some of these factors include: the Plan’s investment options, investment objectives and the historical investment performance of these options, the Plan’s flexibility and features, the reputation and expertise of the Plan’s investment manager, Plan contribution limits and the federal and state tax benefits associated with an investment in the Plan. Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program.Investors should determine their home state’s tax treatment of 529 plans when considering whether to choose an in-state or out-of-state plan. Investors should consult with their tax or legal advisor before investing in any 529 Plan or contact their state tax division for more information. Morgan Stanley Smith Barney LLC does not provide tax and/or legal advice. Investors should review a Program Disclosure Statement, which contains more information on investment options, investment objectives, risk factors, fees and expenses and possible tax consequences. Investors should read the Program Disclosure Statement carefully before investing.Morgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences, or review our “Understanding Your Brokerage and Investment Advisory Relationships” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.Residential mortgage loans/home equity lines of credit are offered by Morgan Stanley Private Bank, National Association, an affiliate of Morgan Stanley Smith Barney LLC. With the exception of the pledged-asset feature, an investment relationship with Morgan Stanley Smith Barney LLC does not have to be established or maintained to obtain the residential mortgage products offered by Morgan Stanley Private Bank, National Association. All residential mortgage loans/home equity lines of credit are subject to the underwriting standards and independent approval of Morgan Stanley Private Bank, National Association. Rates, terms, and programs are subject to change without notice. Residential mortgage loans/home equity lines of credit may not be available in all states; not available in Guam, Puerto Rico and the U.S. Virgin Islands. Other restrictions may apply. The information contained herein should not be construed as a commitment to lend. Morgan Stanley Private Bank, National Association is an Equal Housing Lender and Member FDIC that is primarily regulated by the Office of the Comptroller of the Currency. Nationwide Mortgage Licensing System Unique Identifier #663185. The proceeds from a residential mortgage loan (including draws and advances from a home equity line of credit) are not permitted to be used to purchase, trade, or carry eligible margin stock; repay margin debt that was used to purchase, trade, or carry margin stock; or to make payments on any amounts owed under the note, loan agreement, or loan security agreement; and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.  Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCYCRC: 4875425 (10/2025) 

Despite her aversion to discussing finances, real estate agent Kristin is determined to secure her children’s future and ensure a comfortable retirement. As she navigates the challenges of perimenopause, Kristin candidly discusses how these life changes intersect with her financial journey with Sarah, a Morgan Stanley Financial Advisor.For more information about this episode and the topics covered, check out our episode page and explore how you can connect with a Morgan Stanley Financial Advisor. DISCLOSURESMorgan Stanley offers a wide array of brokerage and advisory services to its clients, each of which may create a different type of relationship with different obligations to you. Please consult with your Financial Advisor to understand these differences, or review our “Understanding Your Brokerage and Investment Advisory Relationships” brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf.When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit www.morganstanley.com/disclosures/dol. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.Life insurance, disability income insurance, and long-term care insurance are offered through Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates. Not all products and services discussed are available at Morgan Stanley.Morgan Stanley Smith Barney LLC, its affiliates, Wealth Management Head of Health and Wellness Education, Financial Advisors or Private Wealth Advisors (collectively, “MSSB”) at times may discuss strategies for navigating healthcare issues. In doing so, MSSB may rely on and provide you with health and medical news or information. MSSB makes no representation as to the accuracy of this information. MSSB is not providing medical advice to you in this regard. You are encouraged to consult with your health and medical professionals for any matters involving your personal health care issues or other medical matters. Nothing herein shall be construed as investment advice of any kind or a recommendation of a specific healthcare company or service provider, as applicable.© 2025 Morgan Stanley Smith Barney LLC. Member SIPC.CRC: 4776382 (10/2025)

As a newly engaged couple, Jules and Shay have a lot to look forward to: a destination wedding, starting fertility treatments and the potential of buying a home. But their goals have a short horizon, are they able to save enough to accomplish three large milestones within a five-year period?In this episode, Jules and Shay sit down with Carolina, a Morgan Stanley Financial Advisor to discuss short- and long-term savings strategies, utilizing company benefits and how their families can help them save for a down payment.For more information about this episode and the topics covered, check out our episode page and explore how you can connect with a Morgan Stanley Financial Advisor. DISCLOSURESThe conversation in this podcast is solely intended as a case study between a client/prospective client with a Financial Advisor and is not intended to serve as individualized investment or financial advice. No portion should be construed as a recommendation to employ any of the guidance contained within this podcast. Each investor has their own unique facts and circumstances and must determine what is appropriate for their own situation. Participants in this podcast are not compensated and are not affiliated with Morgan Stanley.  Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will be acting in an investment advisory capacity with respect to the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdfYou have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley Smith Barney LLC or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.Residential mortgage loans/home equity lines of credit are offered by Morgan Stanley Private Bank, National Association, an affiliate of Morgan Stanley Smith Barney LLC. With the exception of the pledged-asset feature, a Residential mortgage loans/home equity lines of credit are offered by Morgan Stanley Private Bank, National Association, an affiliate of Morgan Stanley Smith Barney LLC. With the exception of the pledged-asset feature, an investment relationship with Morgan Stanley Smith Barney LLC does not have to be established or maintained to obtain the residential mortgage products offered by Morgan Stanley Private Bank, National Association. All residential mortgage loans/home equity lines of credit are subject to the underwriting standards and independent approval of Morgan Stanley Private Bank, National Association. Rates, terms, and programs are subject to change without notice. Residential mortgage loans/home equity lines of credit may not be available in all states; not available in Guam, Puerto Rico and the U.S. Virgin Islands. Other restrictions may apply. The information contained herein should not be construed as a commitment to lend. Morgan Stanley Private Bank, National Association is an Equal Housing Lender and Member FDIC that is primarily regulated by the Office of the Comptroller of the Currency. Nationwide Mortgage Licensing System Unique Identifier #663185. The proceeds from a residential mortgage loan (including draws and advances from a home equity line of credit) are not permitted to be used to purchase, trade, or carry eligible margin stock; repay margin debt that was used to purchase, trade, or carry margin stock; or to make payments on any amounts owed under the note, loan agreement, or loan security agreement; and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.This material has been prepared for informational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. Important Risk Information for Securities Based Lending : Clients must be aware that: (1) Sufficient collateral must be maintained to support the loan and to take future advances; (2) Clients may have to deposit additional cash or eligible securities on short notice; (3) Some or all of the pledged securities may be sold without prior notice in order to maintain account equity at required collateral maintenance levels. Clients will not be entitled to choose the securities that will be sold. These actions may interrupt long-term investment strategy and may result in adverse tax consequences or in additional fees being assessed; (4) Morgan Stanley Bank, N.A., Morgan Stanley Private Bank, National Association or Morgan Stanley Smith Barney LLC (collectively referred to as "Morgan Stanley") reserve the right not to fund any advance request due to insufficient collateral or for any other reason except for any portion of a securities based loan that is identified as a committed facility; (5) Morgan Stanley reserves the right to increase the collateral maintenance requirements at any time without notice; and (6) Morgan Stanley reserves the right to call securities based loans at any time and for any reason. Morgan Stanley Smith Barney LLC, its affiliates and their employees are not in the business of providing tax or legal advice. These materials and any statements contained herein should not be construed as tax or legal advice. Individuals should consult their personal tax advisor or attorney for matters involving taxation and tax planning and their attorney for matters involving personal trusts and estate planningWith the exception of a margin loan, the proceeds from securities based loan products may not be used to purchase, trade, or carry margin stock (or securities, with respect to Express CreditLine); repay margin debt that was used to purchase, trade or carry margin stock (or securities, with respect to Express CreditLine); and cannot be deposited into a Morgan Stanley Smith Barney LLC or other brokerage account.To be eligible for a securities based loan, a client must have a brokerage account at Morgan Stanley Smith Barney LLC that contains eligible securities, which shall serve as collateral for the securities based loan.Securities based loans are provided by Morgan Stanley Smith Barney LLC, Morgan Stanley Private Bank, National Association or Morgan Stanley Bank, N.A, as applicable.Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC. Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY© 2025 Morgan Stanley Smith Barney LLC. Member SIPC.CRC# 4766848 (09/2025)

A teacher in her late thirties with $800,000 saved is contemplating early retirement to travel the world. She shares her journey of overcoming childhood money anxiety and navigating debt. Discussions include strategies for tax-efficient withdrawals and the significance of Roth IRA conversions. The importance of flexible wealth management, understanding retirement accounts, and adaptive investment strategies are also explored. Personal anecdotes about travel dreams further enrich the conversation, making financial planning feel relatable and achievable.

The way we manage money looks different for everyone, but as our lives become more complex, we likely have more questions than answers on what we should do with our money. This season, our guests have concerns ranging from retiring early, to affording IVF and raising a child with special needs.No matter where you are with your finances, you don’t have to navigate them alone. Our Financial Advisors show once again that a little guidance can go a long way. Join us to hear how a conversation can turn concern into confidence, hosted by Morgan Stanley Wealth Management’s Jamie Roô.For more information visit morganstanley.com/mymoney   --This material has been prepared for educational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will be acting in an investment advisory capacity with respect to the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley Smith Barney LLC or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.FCS Portfolio Awards 2025 – Gold Source: Financial Community Society Portfolio Awards (May 2025) 2025 FCS Portfolio Awards. The Portfolio Awards competition recognizes creative excellence in marketing communications work from financial companies, with Gold, Silver and Bronze trophies awarded for Branded Content. This year’s panel comprised 51 industry experts from financial firms and communications agencies. Morgan Stanley Smith Barney LLC is not affiliated with Financial Communications Society. For more information, see https://thefcs.org/portfolio-awards. ©2025 Morgan Stanley Smith Barney LLC. Member SIPC.FCS Portfolio Awards 2025 – Bronze Source: Financial Community Society Portfolio Awards (May 2024) 2024 FCS Portfolio Awards. The Portfolio Awards competition recognizes creative excellence in marketing communications work from financial companies, with Gold, Silver and Bronze trophies awarded for Branded Content. This year’s panel comprised 49 senior executives from financial firms and communications agencies. Morgan Stanley Smith Barney LLC is not affiliated with Financial Communications Society. Morgan Stanley Smith Barney LLC has not paid a fee for this listing. For more information, see https://thefcs.org/portfolio-awards. ©2025 Morgan Stanley Smith Barney LLC. Member SIPC.Shorty Awards Finalist 2024Source: Shorty Impact Awards (May 2025) 2025 Annual Shorty Impact Awards. The Shorty Awards winners and honorees, including Finalists, Gold, Silver, and Bronze Honorees; are chosen by the Real Time Academy. The decision is made based on three main criteria: purpose/impact, creativity, strategy & execution, and engagement. Morgan Stanley Smith Barney LLC is not affiliated with the Shorty Impact Awards. Morgan Stanley Smith Barney LLC has not paid a fee for this listing. For more information, see https://shortyawards.com/impact-awards/rules/. ©2025 Morgan Stanley Smith Barney LLC. Member SIPC.Webby Award Nominee 2024 Source: 2025 Webby Awards (May 2025) The Webby Awards is the Internet’s most respected symbol of success. The 28th Annual Webby Awards received nearly 13,000 entries from all 50 states and over 70 countries worldwide. Podcasts: News & Politics, Best Host, Best Series, Best Live Podcast Recording & more. Associate Academy members are former Webby winners and nominees and other invited industry professionals who are leaders in their peer groups because of their creative and technical accomplishments. Associate members are invited to take part in Round 1 Judging, the initial phase of the Webby evaluation process. Morgan Stanley Smith Barney LLC is not affiliated with The Webby Awards. Morgan Stanley Smith Barney LLC has not paid a fee for this listing.For more information, see https://www.webbyawards.com/. ©2025 Morgan Stanley Smith Barney LLC. Member SIPC.Signal Awards 2023 – Bronze WinnerSource: Signal Award Winners (October 2023) 2023 Signal Awards receive votes from the public voting stage, podcast fans cast over 130,000 votes for the Signal Listener’s Choice award. Signal Award Winners were selected by the Signal Academy. Morgan Stanley Smith Barney LLC is not affiliated with Signal Awards. Morgan Stanley Smith Barney LLC has not paid a fee for this listing. For more information, see www.signalawards.com. ©2025 Morgan Stanley Smith Barney LLC. Member SIPC.© 2025 Morgan Stanley Smith Barney LLC. Member SIPC.CRC# (4728375) (08/2025)

Meet Genesis, a 27-year-old business analyst who is determined to elevate her financial status and provide stability for her family. Having grown up in challenging circumstances with a single mother, she’s achieved significant financial milestones including owning multiple properties and establishing a substantial net worth. But can she aspire to accomplish even more?In this episode of What Should I Do With My Money?, listen in as Ara, a Morgan Stanley Financial Advisor, breaks down for Genesis how to set realistic goals and put her money to work.For more information about this episode and the topics covered, check out our episode page www.morganstanley.com/mymoney. Connect with a Morgan Stanley Financial Advisor here. This material has been prepared for educational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will be acting in an investment advisory capacity with respect to the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdfYou have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley Smith Barney LLC or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.© 2024 Morgan Stanley Smith Barney LLC. Member SIPC.CRC 3750351 (08/2024)

At a young age, Pradeep and his brother were sent to the United States by their parents to pursue a better life, leaving behind their family in India. His parents' sacrifice instilled a deep appreciation for financial responsibility. Now engaged and planning for a family, Pradeep desires financial security for his future children. But is he on the right path to be the provider he wants to be?In this episode of What Should I Do With My Money?, listen in as Pradeep learns the fundamentals from Ramiro, a Morgan Stanley Financial Advisor, to set him on course to provide for his future family, prepare for retirement and even start his own business one day. For more information about this episode and the topics covered, check out our episode page www.morganstanley.com/mymoney. Connect with a Morgan Stanley Financial Advisor here.  This material has been prepared for educational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will be acting in an investment advisory capacity with respect to the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley Smith Barney LLC or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.Apple®, the Apple logo, iPhone®, iPad®, and iPad Air® are trademarks of Apple Inc., registered in the US and other countries. Apple Pay® and iPad mini® are trademarks of Apple Inc. App Store® is a service mark of Apple Inc.Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.© 2024 Morgan Stanley Smith Barney LLC. Member SIPC.CRC# 3715892 (07/2024) 

Claire built her career as an environmental engineer and raised two daughters with her husband. Then something happened, something game changing: Claire and her husband earned tens of millions of dollars from a company's IPO. While many people might fantasize about how they'd spend such a fortune, Claire believes this wealth gave her an opportunity to do something bold—give it away to help save the planet. How can she donate most of her fortune with confidence that her contributions will have the impact she wants with the causes she cares about most?In this episode of What Should I Do With My Money?, listen in as Claire learns how her money can make a difference with a holistic approach to philanthropy and impact investing from Mike, a Morgan Stanley Private Wealth Advisor.Visit our episode website for a deeper dive on topics covered in this episode like creating a Donor Advised Fund, climate philanthropy or to find a Morgan Stanley Financial Advisor to fit your needs. Also find important disclosures here.The Morgan Stanley Global Impact Funding Trust, Inc. (“MS GIFT, Inc.”) is an organization described in Section 501(c) (3) of the Internal Revenue Code of 1986, as amended. MS Global Impact Funding Trust (“MS GIFT”) is a donor-advised fund. Morgan Stanley Smith Barney LLC provides investment management and administrative services to MS GIFT.While we believe that MS GIFT provides a valuable philanthropic opportunity, contributions to MS GIFT are not appropriate for everyone. Other forms of charitable giving may be more appropriate depending on a donor’s specific situation. Of critical importance to any person considering making a donation to MS GIFT is the fact that any such donation is an irrevocable contribution. Although donors will have certain rights to make recommendations to MS GIFT as described in the Donor Circular & Disclosure Statement, contributions become the legal property of MS GIFT when donated. The Donor Circular & Disclosure Statement describes the risks, fees and expenses associated with establishing and maintaining an MS GIFT account. Read it carefully before contributing. This material has been prepared for informational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.The returns on a portfolio consisting primarily of Environmental, Social and Governance (“ESG”) aware investments may be lower or higher than a portfolio that is more diversified or where decisions are based solely on investment considerations. Because ESG criteria exclude some investments, investors may not be able to take advantage of the same opportunities or market trends as investors that do not use such criteria. Diversification does not guarantee a profit or protect against loss in a declining financial market.CRC: 3674098 (07/2024)© 2024 Morgan Stanley Smith Barney LLC. Member SIPC.

Jacob, a savvy DIY investor, seeks advice from Kathleen, a Morgan Stanley Financial Advisor. They discuss managing company stock, planning for a million-dollar payday, buying a home in a hot market, and transitioning to passive income. The episode highlights the importance of seeking financial guidance and creating dynamic financial plans.

Growing up in a lower-middle-class family, Maxwell has a deep desire for financial stability and security. He's concerned about the risk of having too much of his wealth tied up in his employer's stock, which is more than $1 million. He needs help to diversify his investments in a tax-efficient way so he can build a legacy of generational wealth.In this episode of What Should I Do With My Money?, listen in as Maxwell gets advice on investing for future generations from Evan, a Morgan Stanley Financial Advisor.Visit our episode website for a deeper dive on topics covered in this episode like 529 Plans, tax-efficient investing and diversifying a concentrated position, or to find a Morgan Stanley Financial Advisor to fit your needs. Also find important disclosures here. More insights to help you go further: 529 Plans: A Powerful Took to Save for EducationHow Direct Indexing Can Offer Investors Potential Tax Savings and FlexibilityTax-Loss Harvesting Can Work Year-Round for Investors—Here’s How4 Tax-Smart Ways to Diversify Your PortfolioRational Investing in an Age of UncertaintyNext Generation Gifting ConsiderationsThis material has been prepared for educational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.Important information about your relationship with your Financial Advisor and Morgan Stanley Smith Barney LLC when using a Financial Planning tool. When your Financial Advisor prepares a Financial Plan, they will be acting in an investment advisory capacity with respect to the delivery of your Financial Plan. To understand the differences between brokerage and advisory relationships, you should consult your Financial Advisor, or review our Understanding Your Brokerage and Investment Advisory Relationships brochure available at https://www.morganstanley.com/wealth-relationshipwithms/pdfs/understandingyourrelationship.pdf You have sole responsibility for making all investment decisions with respect to the implementation of a Financial Plan. You may implement the Financial Plan at Morgan Stanley Smith Barney LLC or at another firm. If you engage or have engaged Morgan Stanley, it will act as your broker, unless you ask it, in writing, to act as your investment adviser on any particular account.Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning and other legal matters.Insurance products are offered in conjunction with Morgan Stanley Smith Barney LLC’s licensed insurance agency affiliates.Please add the following disclosures: Apple®, the Apple logo, iPhone®, iPad®, and iPad Air® are trademarks of Apple Inc., registered in the US and other countries. Apple Pay® and iPad mini® are trademarks of Apple Inc. App Store® is a service mark of Apple Inc. Google Pay is a trademark of Google LLC.© 2024 Morgan Stanley Smith Barney LLC. Member SIPC.CRC# 3619836 (06/2024)