Naming a Child As a Co-Owner of a Bank or Investment Account

January 23, 2016

Naming a Child As a Co-Owner of a Bank or Investment Account

You would think that naming a child as a co-owner of a bank or investment account would be a good idea, right? That way, if something happens to you they can more easily help you pay your bills. Jim, Chris and Peter discuss why naming your children on these accounts may be more if a headache than a help. They also answer a couple of listeners’ questions. How can you correct a Social Security earnings history? What’s the best use of your money: using it to pay the taxes to convert a Traditional IRA to a Roth IRA, or just opening a new Roth? How can you financially take care of a special needs child? And… is there a best strategy to use when drawing funds out of  multiple different types of retirement accounts?

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Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Jim Saulnier, Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: CO, IA, IN, MA, NY, TN, TX, WI and WY. No offers may be made to or accepted from any resident outside the specific states mentioned. Jim Saulnier, Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Financial Planning services offered through Jim Saulnier and Associates, LLC., a Registered Investment Advisor. Cambridge and Jim Saulnier & Associates, LLC are not affiliated.