Six Reasons Why You Should Not Add Your Adult Child As Co-Owner To Your Bank Account

You could create unwitting problems for yourself and your adult child by adding his or her name to your bank account. My colleague, **Attorney Danielle Van Ess, of DGVE Law in Hingham sums it up well: “While most parents who add their adult children do so out of trust and with love and gratitude in… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

Last month a client told me her young adult daughter was having trouble getting a credit card. Her daughter is a full-time student and has very little income, but does have some savings and good credit. The only reason she wanted a credit card is because there are some car rental companies that will not… Continue

What I’m Reading: Thinking in Pictures, Expanded Edition: My Life with Autism

Thinking in Pictures, Expanded Edition: My Life with Autism by Temple Grandin. I picked up this book after seeing the movie “Temple Grandin” Temple Grandin is a remarkable woman with autism who is an animal scientist specializing in creating humane slaughter facilities for livestock. She has designed about 1/3 of all livestock handling facilities in… Continue

Mandatory Arbitration and Your Investments – what is it and why should you care?

Hello! Frequently in the fine print of lengthy agreements you never read is a “mandatory arbitration clause”. This means if you have a dispute with the other party you are denied your constitutional right to a jury by your peers and must instead submit your dispute to an arbitration panel. As an investor, this is… Continue

Financial Planning Toolkit For Single Women [and the people who love them]

Last month I helped a client with a notice she got from the IRS regarding her 2015 tax return. She was not my client then – I did not prepare her return. Like most people, her inclination upon receiving this mail was to immediately write a check for the amount they said she owed. WAIT,… Continue

What I Am Reading: Thinking, Fast and Slow

Each month I share with my readers something I read that I enjoyed, whether or not it has anything to do with finances. This New York Times best seller is a remarkable book – if you consider yourself a thinker (and who doesn’t?) you need to read this book. From Amazon: “…Daniel Kahneman, the renowned… Continue

Do You Have Small Company Stocks in Your Investment Portfolio?

Hello! One of my investing commandments is “Thou shalt diversify”. For the stock portion of your investment portfolio this means buying large company stocks and small company stocks from all over the world. Read on to learn more about the “punch” that small company stocks can give your portfolio. Best, Michelle Morris, CFP®, EA BRIO Financial Planning… Continue

Financial Planning Toolkit for Single Women [and the people who love them]

This month I spoke to a woman who was confused about 401(k) transfer rules. She had recently left a job and wanted to roll her prior company 401(k) into her new company 401(k), but thought the transfer limit was $18,000. She had more than $18,000 in the old plan, and wondered what to do with… Continue

What I Am Reading

I am currently reading “The Geography of Bliss: One Grump’s Search for the Happiest Places in the World” The author Eric Weiner is a former NPR foreign correspondent and by his own admission not a happy person. Amazon bills this book as “Part travel memoir, part humor, and part twisted self-help guide, The Geography of… Continue

Dear Young Person: I want to talk about your biggest asset.

Hello! In financial planning we do a lot of “asset inventories”. A tally of everything of value the client owns. Cash, real estate, stocks, bonds, 401k plans, IRA’s, life insurance policies, cars, etc. A young person may have very little of these types of assets and in fact may have more liabilities (debts) than assets.… Continue