Financial Well-Being in 2023

Footnotes:

¹ IRS.gov, "Frequently Asked Questions on Gift Taxes." Available here: https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes.

² Education Data Initiative, “Student Loan Debt Statistics,” 2022. Available here: https://educationdata.org/student-loan-debt-statistics.

³ Employee Benefit Research Institute and Greenwald Research. “2022 Workplace Wellness Survey.” October 2022. Available here: https://www.ebri.org/content/2022-ebri-financial-wellbeing-employer-survey-employee-satisfaction-and-retention-a-primary-focus.

Tax laws are complex and subject to change. 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. Individuals are urged to consult their personal tax or legal advisors to understand the tax and legal consequences of any actions, including any implementation of any strategies or investments described herein.

This material has been prepared for informational purposes only and is not an offer to buy or sell or a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. Past performance is not necessarily a guide to future performance.  This material should not be viewed as advice or recommendations with respect to asset allocation or any particular investment.

Employee stock plan solutions are offered by E*TRADE Financial Corporate Services, Inc. and are part of Morgan Stanley at Work solutions. Securities products and services are offered by E*TRADE Securities LLC, Member SIPC.

In connection with stock plan solutions offered by Morgan Stanley at Work, E*TRADE Securities LLC provides brokerage services to stock plan participants.

E*TRADE Financial Corporate Services, Inc. and E*TRADE Securities LLC are separate but affiliated subsidiaries of Morgan Stanley. This is not an offer to sell or a solicitation of an offer to sell to buy securities, products or services, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.

The laws, regulations and rulings addressed in this presentation and by the products, services and publications offered by Morgan Stanley and its affiliates are subject to various interpretations and frequent change. Product descriptions and instructions in this material are general in nature and are not intended to replace documentation and instructional materials distributed by Morgan Stanley and its affiliates. Morgan Stanley and its affiliates do not provide legal, accounting or tax advice. Always consult your own legal, accounting and tax advisors.

This material may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the material refers to website material of Morgan Stanley Wealth Management, the firm has not reviewed the linked site. Equally, except to the extent to which the material refers to website material of Morgan Stanley Wealth Management, the firm takes no responsibility for, and makes no representations or warranties whatsoever as to, the data and information contained therein. Such address or hyperlink (including addresses or hyperlinks to website material of Morgan Stanley Wealth Management) is provided solely for your convenience and information and the content of the linked site does not in any way form part of this document. Accessing such website or following such link through the material or the website of the firm shall be at your own risk and we shall have no liability arising out of, or in connection with, any such referenced website. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.

Morgan Stanley at Work services are provided by Morgan Stanley Smith Barney LLC, Member SIPC and its affiliates, all wholly owned subsidiaries of Morgan Stanley.

© 2023 Morgan Stanley Smith Barney LLC. Member SIPC.

CRC#5368561 (01/2023)