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Investment: Financial Institutions – Part 2 of 3

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InvestmentAs I pull out the documents in my file, I am finding more projects I need to do. (This series is not just for you. :-))

Though I have our important documents organized, some of these records are outdated, or I have old copies stashed within the bundles. The initial setup took the longest as I had to gather all the documents, but the paperwork continues to change and requires maintenance.

In taking it one step at a time, progress happens. Last week, we concentrated on the paperwork for our adult account investments at financial institutions. This week, I turn to the documents kept for our children’s accounts.

Part 2: Documents for Children’s Accounts

With each of our three children having a savings account at two different financial institutions, I keep the following documents in each bundle:

  • Membership Identification Card. The original card and a copy of the card displaying the membership number begins each bundle.
  • Contact information. For quick reference, the following information is included on the copy of the membership card document:
    • Protective Password
    • Website
    • Username
    • Password
    • Member number
    • PIN
  • Account Application. As my children are minors, I keep the documentation I used to open their accounts. This information includes the account number should I misplace the copy or the original membership card.
  • Correspondence. Any additional information, including joint members and beneficiary designations, is filed after the account application.

For each account, I paperclip these items together. I then place the bundles in the following order:

    • Financial Institution #1: Paul’s account
    • Financial Institution #1: Tracy’s account
    • Financial Institution #1: Child 1’s account
    • Financial Institution #1: Child 2’s account
    • Financial Institution #1: Child 3’s account
    • Financial Institution #2: Paul’s account
    • Financial Institution #2: Tracy’s account
    • Financial Institution #2: Child 1’s account
    • Financial Institution #2: Child 2’s account
    • Financial Institution #2: Child 3’s account

When I need to access the information, I can choose which financial institution I need, and then locate the account by the owner. Keeping our documents in this same order throughout the filing system frees me to get the document rather than sifting through loose paper.

Getting these documents organized is not easy. It takes time and effort as each little bundle requires verification, on-line setup for some accounts, and recording the information. Take it slowly to get the information correct. Keep making progress while using time wisely. Happy organizing!

Question: How is your document organization coming along?

Investment: Financial Institutions – Part 1 of 3

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Investment In organizing our important documents, we have reached the investment category. Last week, documenting our cash accounts using the free printable provides a complete list for quick reference.

The rest of the documents within my investment category, housed in the fourth file opening of Box 3 of our important documents, are separate bundles for each account.

My bundles include the following:

  • Financial Institution #1: Paul’s account
  • Financial Institution #1: Tracy’s account
  • Financial Institution #1: Child 1’s account
  • Financial Institution #1: Child 2’s account
  • Financial Institution #1: Child 3’s account
  • Financial Institution #2: Paul’s account
  • Financial Institution #2: Tracy’s account
  • Financial Institution #2: Child 1’s account
  • Financial Institution #2: Child 2’s account
  • Financial Institution #2: Child 3’s account
  • Business Accounts

In breaking down these bundles with each type of document I keep, I have chosen to separate these posts into three parts:

  • Part 1: Documents for Adult Accounts
  • Part 2: Documents for Children’s Accounts
  • Part 3: Beneficiary Designations

Part 1: Documents for Adult Accounts

For each adult account, of which we have 4 with checking and savings on each, I keep the following documents in each bundle:

  • Copy of the front and signed back of the primary account holder’s debit card. In the event I misplace or have the card stolen, I will have the information to report the card to our financial institution. For debit cards we do not use often, we choose not to carry them in our wallets. I keep those debit cards attached to the bundle.
  • PIN information for the primary card. The Personal Identification Number (PIN) issued with the card was sent separate from the card itself. I keep the PIN correspondence behind the copy of the debit card.
  • Copy of the front and signed back of secondary holder’s debit card. As I have a debit card for Paul’s account and he has one for my account, each of our personal accounts has two cards issued. As the secondary card is different from the primary card, I keep this copy behind the PIN documentation from the primary card holder. If I do not carry the debit card in my wallet, then I attach it to the copy of the card. If you have additional authorized users, any documentation you have should be added within the bundle.
  • PIN information for the secondary card. The second card is issued a separate PIN. That documentation is housed behind the copy of that card.
  • Membership Identification Card. The original card and a copy of the card with the membership number and owner’s signature is kept behind the secondary card’s PIN information.
  • Contact information. I choose to write the following information on the copy of each debit card:
    • Protective Password
    • Website
    • Username
    • Password
    • Member number
    • PIN

Keeping this information with each account not only helps you find the information, but also your family should something happen to you. When you have a designated place, write down your usernames and passwords, and let someone know where that information is located. This one action will save your loved ones time, energy, and worry. Remember to update your list when you change your passwords or add accounts.

PROTECTIVE PASSWORDS: To help protect ourselves, I place a protective password on each account. I call each account provider and ask to put a password on the account. When I contact the financial institution regarding my account, the representative asks for my protective password in addition to the other personal information they request.

Having this password allows me to refuse giving out our Social Security Numbers for identification. I prefer the protective password since I can customize the word or phrase making it difficult for someone to commit identity theft.

  • Correspondence. Any information, including joint members and beneficiary designations, is filed after the membership identification paperwork.

To keep the information together and easy to find, I paperclip the primary debit card information together (the card, copy of the card, and PIN information). Then I paperclip the secondary debit card information (the card, copy of the card, and PIN information).

The membership identification card, copy, and correspondence are bound together with a third paperclip. Then I take these three packets and put one paperclip on all three. This bundle is one account within my file.

Yes, there is lots of paperwork in this file. The more accounts you have, the more bundles you will have. But by keeping them separate and organized, I can quickly find the documents I need. This system works for me. If this seems too complicated, then adjust it to meet your needs.

Weekly Project: Bundle your cash account documents.

In using time wisely, the goal is having the information within reach for the day you need to access it. Keep making progress. I know it takes time and energy, but the results are worth your investment. Happy organizing!

Question: How many cash accounts do you hold?

Investment: Cash Accounts

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Investments: Cash AccountsAs I write this post, my desk is piled with paperwork. Though all the documents are in piles, I don’t feel organized. Sometimes I feel like the paperwork battle is a loss, but then I get everything filed and all is good again.

If you feel this way with your important documents, then press on in your process. My document organization journey took months to complete. Though I am currently maintaining my filing system, the process takes time and energy.

Thus far in the process, I have covered File Box 1 and File Box 2. In File Box 3, we have looked at Social Security documents and retirement plan documents. Last week, we began the investment documents with U.S. Treasury Savings Bonds. Today, we move on to cash accounts.

Investments: Cash AccountsCash Accounts

In the fourth file opening of my accordion filing system, I place my cash accounts asset list. Keeping all the information in one place makes contacting the company and finding the account numbers simple.

Needing one source, I created the following free printable to record our family’s accounts. You are welcome to download and use it for your investment information as well.

Cash Accounts – pdf

Cash Accounts – WORD document

To share these resources with others, please forward the link to this post rather than sending the files directly. Thank you for protecting Using Time Wisely’s copyright.

For each account I document the following information:

Name of Institution

With multiple accounts in different financial institutions, I record all our accounts from one institution and then our accounts from another bank or credit union.

Branch and Address

Should I need to send written correspondence, I like to have the address information available without needing to look it up.

Phone Number

Any contact information, including a person’s name and extension, is helpful should an issue arise.

Website Address

Keeping this information with the other information makes checking rates, setting up bill pay, and verifying deposits a snap.

Type of Account

Noting a checking or savings or both types of accounts helps document all your accounts.

Account Numbers

This information is especially helpful for someone who may need access to your accounts should you become disabled or unavailable. If something should happen to me, Paul will have access to our information via this listing.

Names on Account(s)

All of our accounts have multiple authorizing owners and joint owners. By having joint owners, I know that someone can gain access to our funds should something happen to both Paul and I.

In documenting our cash accounts, I have the above-mentioned information recorded for each of our accounts filling up 2 sheets. These documents are placed within the fourth filing opening under the investment document category.

Weekly Project: Record all your cash accounts in one document.

As you continue organizing your important documents, gather the information for all your cash accounts including your children’s accounts. Having all of these account numbers and contact information together frees you to work on other matters. Happy organizing!

Question: Do you keep all your cash account information in one place?

Investment: U.S. Treasury Savings Bonds

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U.S. Treasury Savings BondsIn using time wisely to organize important documents, I find this process rewarding. When I am confused or not sure of how a document or process works, I spend time wondering if I will miss a deadline or an opportunity to benefit my family.

I am a thorough researcher. Finding the answers to my questions is like a puzzle. Some of the pieces join neatly while others need to be flipped and turned to fit into the unified whole. As I discover nuggets of answers, the big picture comes into focus with a clarity and understanding of the subject.

This research process led me to understand a portion of U.S. Treasury Savings Bonds. Though I am far from an expert, I can suggest resources to guide you to a deeper explanation of these investment vehicles.

Obtaining my U.S. Treasury Savings Bond

When my grandfather passed away over 20 years ago, my grandmother gifted each grandchild a $100 U.S. Savings Bond issued from the Treasury department. This bond was issued from a local bank in my maiden name using my social security number and address at the time of issuance.

My series EE bond earns 4% interest and increases in value every 6 months since it was issued prior to 1997. It will reach maturity at 30 years at which time I will redeem it.

Valuing my U.S. Treasury Savings Bond

As my bond is still earning interest, I found this Savings Bond calculator helpful. By plugging in the information, I can check the current rate and value.

Redeeming my U.S. Treasury Savings Bond

In the month of issuance at the 30th year, I will cash in my series EE U.S. Savings Bond. If I cannot find a local financial institute to help, I will contact the Federal Reserve.

Additional U.S. Treasury Savings Bond Resources

Limiting this post to the Series EE U.S. Treasury Savings Bond, I realize that there are other types of government investments. As I have not researched those options, I offer the following resources to help you find the answers you need regarding purchasing, redeeming, and learning.

With my U.S. Savings Bond still earning interest, I keep it tucked inside its original sleeve and housed within the fourth file opening under the investment category of File Box 3. When my bond reaches its maturity date, I can easily access it from this file to redeem it.

Weekly Project: Place all government bonds within your investment category.

In using time wisely, keep your documents together. If you find a valuable website or specific information key to your investment, then note that information and file it with your bonds. I keep a sticky note with the issuance date and maturity date on top of the envelope.

Keep organizing. Go at your own pace and enjoy the benefits of an organizational system that works for you. Happy organizing!

Question: Do you have any government bond investments?  

Investment Documents Overview

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Overview of File Box 3With almost a 2-month break from our document organization, I hope your progress has not diminished. My desk, piled with paperwork, receipts, and bills, needs attention. However, all the documents are organized into sections making the process smooth for me. The rest of the filing has been completed, so I am on schedule with our document organization.

If you are just joining us or forgot where we left off, then let’s review from the top. We have organized our important documents in File Box 1 and File Box 2. In File Box 3, our system has 5 categories.

We have completed the first two categories, social security documents and retirement plan documents. Today, we continue in this series with the third category: Investment Documents.

Investment Documents

  • Treasuries: series I, series EE, and notes
  • Stock certificates*
  • CDs*
  • Annuity contracts*
  • Stock option agreements*
  • Asset List
  • Copies of all investment account applications and agreements

*These items are not included in my file. However, if you have any of these items, add them to your file opening(s) for this category.

Though I will share the choices Paul and I have made, these decisions may not work for you. I am not a financial planner and am not giving you financial advice, but I will share what I have learned along the way. If you have specific financial planning questions, please contact a financial planner or research your options.

In using time wisely to get a handle on paper clutter, we need a system that works for us. I share what works for our family as an example for your own system.

Getting the paperwork out of piles and into an organizational file, either electronically (via scanning) or manually, saves energy and time when you need that document.

Weekly Project: Find your file, and bring it up to date.

Beginning next week, I will breakdown the types of paperwork stored in the investment documents category of File Box 3. In the meantime, locate your system, file any remaining documents, and touch base next week regarding Treasuries. Happy organizing!

Question: Have you missed the posts from this series?