Need help with 5000 dollars! Where to put it.
Well, I moved 5000 dollars out of my daughters passbook saving account. It is all the money she has saved over her lifetime. I left 783 dollars in the account for whatever she needs.
My daughter cannot open her own ING or Emigrant account so I will open under my name and call it DDs Name fund. The way I see it she can 1) get more interest and 2) the money will not be counted as hers on the College FAFSA Forms.
Did I do the right thing and is ING or Emigrant the right place to put it? Your suggestions and advice would be greatly appreciated. By the way she statrs college in about 2 1/2 years.
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