Page 11 - AAA Now! – AAA Shelby County – March/April 2020

MEMBER SERVICES
Do-It-Yourself Moving Tips
from Penske Truck Rental
Here are a few handy do-it-yourself moving tips from our partner Penske Truck Rental:
• Tackle packing bit by bit. By starting early, you’ll avoid the stress that comes with rushing. If you’re concerned you’ll need a certain item that you’re packing, pack it and leave the box open. It’s a lot easier to tape up boxes on moving day than it is to frantically pack at the last moment.
• As you start planning your move, you should also consider planning a moving sale. While packing, set aside a designated space or boxes for items you can sell.
• Label the outside of your boxes as you pack and list the room that the items belong in.
• For people moving across town, it’s exhausting to make multiple trips between their old and new homes. For those moving across the country, it is impossible. In either scenario, renting a moving truck will make the process easier and faster.
• Load the heaviest items on the truck first. When you’ve got a sturdy base of the heaviest items, you can start stacking on top.
What are Custodial Accounts for Minors and Why Should I Get One?
• Trucks are taller, wider, heavier and require more stopping distance. Watch out for low-hanging tree branches and building overhangs. To protect your belongings, park in well-lit areas and padlock the rear door.
• To make sure you’ve got everything you need on moving day, create a travel bag for keeping important paperwork, credit cards, identification, change of clothes, drinks and snacks close at hand.
If you’re looking to invest in your child’s future, a custodial account may be the right choice for you. Learn what they are and how one can benefit your family.
What is a custodial account?
Custodial accounts are a type of arrangement in which an adult opens a financial account for a minor. The details around such programs (including roles and responsibilities) vary by state and further information can be found in state statutes (e.g., Uniform Transfers to Minors Act). Funding for such accounts can be money the minor is entitled to receive or a gift from an adult. The adult controls this account for the minor until they reach a specified age, which varies by state and other factors. Generally, the specified age is 18 or 21, or even extended to 25, at which point the custodian turns over the funds to the former minor.
What are the benefits of opening one?
Custodial accounts are a great way to
save for a child’s future without many of
the expenses and complications that come with opening a trust fund. Plus, you may enjoy some tax advantages. Please see a tax professional for information on potential tax advantages. Custodial accounts may not be for everyone (e.g., such accounts may have an impact on a student’s financial aid).
Consider opening a custodial CD, Money Market, or Online Savings account to invest in your child’s future! To learn more about deposit accounts at Discover Bank®, call 1.800.347.7056.
Discover Bank®, Member FDIC
Savings for the Whole Family
Whether you’re starting to save or expanding your retirement options, Discover Bank® has a deposit product for everyone.
Call now for current rates or to open an account!
Call 1.800.347.7056
All accounts include rates that are 5x or greater than the national Mention Invitation Code: CDMMOSAAA average2, now with NO FEES–PERIOD!3
1Federal law limits the number of certain types of withdrawals and transfers from an Online Savings or Money Market Account to a combined total of six per calendar month per account. There is no limit on the number of withdrawals by ATM or by Official Check mailed to you. If you exceed these transaction limitations during any calendar month we may refuse to pay each transaction in excess of the limitations. If you exceed these limits on more than an occasional basis, we reserve the right to close your account.
2National CD Average APYs based on APYs of top 50 U.S. banks (ranked by total deposits) provided by Informa Research Services, Inc., as of 1/8/20.
The Annual Percentage Yield (APY) for the Online Savings Account as of 1/8/20 is more than five times the national average APY for interest-bearing savings accounts with balances over $500 as reported by Informa Research Services, Inc. as of 1/8/20. Interest rates and APYs are subject to change at any time. Although the information provided by Informa Research Services has been obtained from the various institutions, accuracy cannot be guaranteed.
3Outgoing wire transfers are subject to a service charge. You may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in our no-fee network.
CDs & IRA CDs
GREAT FOR LONG-TERM AND RETIREMENT SAVING
ONLINE SAVINGS ACCOUNT1 ACCOMPLISH SHORT-TERM SAVINGS GOALS WITH EASE
© 2019 Discover Bank, Member FDIC
MARCH/APRIL 2020
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