what is the net worth of your parents’ investments, including real estate (not your parents’ home)?
It seems odd to me not putting anything here, but all of our “investments” besides 401k accounts and Roth IRAs, I listed under the cash, savings and checking accounts question.
All of our money, besides the Roth and 401k accounts, is in a few high interest checking accounts.
Do you think it would throw up red flags, or am I not thinking of something that I should be reporting?
Parent-owned (and student-owned) 529 accounts would go here. “High interest checking accounts” sounds to me like a brokerage account that you can write checks on, because a regular bank checking account sure isn’t paying a high interest rate these days. If I’m wrong, please tell me what bank you’re using.
The “high interest” checking accounts aren’t really high as far as investments go, but they’re high as far as checking accounts go lol. They earn 2.65% interest if you do 10 debit card transactions each month, have one direct deposit and get your statements online I believe.
The money for our kids is in uniform trust for minor accounts (or something like that). That was from the advice of my sister-in-law. Looking back, I’m not sure this was the best option, but I don’t think we’ll get anything anyway. But, here’s to hoping!
I listed that amount under investments for my daughter.