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notrichenough Junior Member


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  • amroy67
    Hi There -
    I saw your response to someone with an inheritance question. We met with a Fidelity rep today to ask about our options for the nominal sum of money ($86,000) that was transferred from my late Father in law's acct last year into my husband's (it's in a non-IRA investment account). I did include this in my estimate of assets for the CSS profile back in November for Bentley. Before we complete the FAFSA (for Bentley and the three other schools he applied to), we thought that we should find out if we could shelter most of it for retirement. As we thought, the rep agreed that we could do a max contribution of $6500 for 2012 and another for 2013. We also talked about putting 50,000 into an annuity. If we do all that before January 31st, do I still need to list the full amount on the FAFSA or just the difference? (we want to keep $20,000 or so accessible in case of an emergency.) I apologize for the length, but from reading your past post, you seemed to "know your stuff". Thanks!
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    January 2013