Money 99: How to Change the Properties of a Retirement Account

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Changing the Properties

To change one or all of these properties, follow these steps:

1. On the navigation bar, click Planner.
2. Click Lifetime Planner.
3. In the left pane, click Savings & Investments, and then click Accounts.
4. In the list of Retirement Accounts, click to select the account you want to edit.
5. At the bottom of the screen, click Edit, and then click the property you want to edit, for example, click Type Of Account.
6. Make the necessary changes, and then click Finish.

Repeat steps 5-6 for any other account properties you want to change.

NOTE: For retirement accounts, the owner must be one of the two primary members of the household. However, you can assign investment accounts to other household members. For example you can assign an Education IRA to a child.

To assign an investment account to another member of the household, follow these steps:

1. On the navigation bar, click Planner.
2. Click on Lifetime Planner.
3. In the left pane, click Savings & Investments, and then click Accounts.
4. Click the investment account that is owned by one of the household members other than the two primary members.
5. At the bottom of the screen, click Edit, and then click Account Owner.
6. In the Edit Account dialog box, click Yes under "Is the money in this account set aside in the name of a dependent?"
7. Type the name of the dependent in the box, or select it from the list.
8. Click Finish.