Will we get more interest if we combine the amounts into one account, or does it even make any difference?
2007-12-02 19:16:28 · 9 answers · asked by ungirl 3 in Business & Finance ➔ Investing
No, just leave it the way it is. The minuscule difference in the amount of interest provided by combining the funds of your individual retirement savings is not worth the chance. I have a substantial balance in an account I established with an astute financial counselor in Edward D Jones. It is mostly invested in their American Fund. There is a load fee, but heck, give it a shot. You'll be happy you did.
2007-12-02 19:28:07 · answer #1 · answered by Anonymous · 1⤊ 0⤋
No, do not combine them. You are happily newly married now, but down the road things could change (over 50% of all marriages end in divorce), and then at least your funds are not tied up in a divorce action. I am not saying that your marriage will fail, but I would definitely look out for myself if I were a young person these days. You need that security. What you lose by not combining, may seem little if you combine and then lose big through divorce.
2007-12-03 03:25:26 · answer #2 · answered by Diane B 6 · 1⤊ 0⤋
Most retirement savings accounts (Traditional IRA, ROTH IRA, Conversion IRA, and 401(k)) are registered to one and only person. They can not ever be combined.
If, however, these are retirement saving held in an individual account (ie. not in a tax deferred nor tax exempt status), they may be combined.
If the underlying investments are interest bearing accounts that will give you better rates of return as you have more invested dollars, then you may see a small benefit to combining your savings.
2007-12-03 03:48:53 · answer #3 · answered by Griffin 4 · 2⤊ 1⤋
Yes you will gain more interest cause there will be more cash to gain interest on. However, should you guys get divorced each of you are entitled to 1/2 of the savings, unless of course you guys signed a pre-nup.
Id say just leave it seperate then that way when you guys retire you will each have your own little piggy bank to dip into for whatever it is you want.
2007-12-03 03:27:21 · answer #4 · answered by jesus_and_the_decibels 3 · 0⤊ 2⤋
seriously hun...dont. 1st because things might seem, really nice and stuff, but wat if something happens down the row, besides, is not gonna hurt to just keep things the way the are, I m sure ur husband wont mind. if hes not planin on livin u or something lol. just playing, just trying to give u an example why not to do it. but seriously just keep it how it is. ......i got u a site that answers all ur questions about that. i mean is really good from the very small one to the biggest question....hope i helped a little. good luck with it all.
2007-12-03 03:32:27 · answer #5 · answered by agutieres 2 · 1⤊ 0⤋
If you are talking 401(k)s, IRAs or similar, they HAVE to be kept separate. For other savings, there really is no advantage to combining them.
2007-12-03 10:04:15 · answer #6 · answered by npk 7 · 0⤊ 0⤋
If they are in tax-deferred accounts like IRA's or 401K's, you have to leave them separate. Other than that, probably doesn't matter. The only case where it might matter is if you have it in CD's - sometimes rates are higher for CD's of higher amounts.
2007-12-03 03:26:53 · answer #7 · answered by Judy 7 · 2⤊ 1⤋
dont. keep your finances sept for now. you never know
2007-12-03 03:24:22 · answer #8 · answered by Anonymous · 1⤊ 0⤋
NEVER EVER DO THAT....
2007-12-03 03:42:35 · answer #9 · answered by anousha_patil 2 · 1⤊ 0⤋