***NEED HELP***Anybody know what an ""ING" Account is

You mean ING as in ING the Dutch Bank?

ING is a good place to put your money. It's got one of the highest interest rates going. But if your dad has dementia, I'd find out the login information if you or someone needs to access it later on. That money is building interest.

It is a an internet banking service that is linked to your local bank electronically.To move funds you need to have passwords to enter the Ing webpage account , then transfer funds into your local bank account to access as normal.
It's purpose is to give a higher intrest rate for your savings. Basically you 'park' the money there until you need it through your regular banking account.

Yes ING the bank--I was just worried since people were talking about money market funds and such going down. We do have it online I will call the DPOA and get the login codes. Also Is it sane to keep that much in 1 place or should some be dispersed. Actually my dad can give money to his grandchildren and such that was one of his wishes.

Hi, I assume it's this ING:
[link to www.ing.nl]

Being in the Netherlands, I didn't hear any untrustworthiness about ING.

If you are uncertain about your father's savings, perhaps you can talk with a trustworthy financial service. Diversification is always an option to hedge risks. Personally I prefer diversification of any wealth. But you should inform yourself well if you have never been active in the financial market. Also take every advise you read on GLP with grains of salt.

While I do not have any business there, I heard it's very reliable.

THIS MAY BE OF ASSISTANCE IF YOUR FATHER HAS PASSWORDS HE IS HOLDING AND WISHED TO TRANSFER THAT INFORMATION TO YOU, UPON HIS PASSING, WITHOUT ANY PROBLEMS:

www.deathswitch.com

Just got the info back --All is well----Thanks

OP, to give you more information about ING:
Employees 115,000 (world wide, 2005)
Revenue 73.6 billion Euros (in 2006)
Profit 7.7 billion Euros (in 2006, not sure whether this is before or after tax)
Biggest international insurer in Latin America since 2000

In essence, they aren't a very small player. Still, as stated in the above, you can always think about diversification.

(in Dutch)
[link to nl.wikipedia.org]

Diverse into WHAT at this point in the game. I just thought of dads money last night --and called my brother and he was like oh shit--He looks after it. I'm the one who is looking for a new mortgage for my wife since her 2/28 is gonna reset in FEB--Worst comes to worst dad will have people that care about him caring for him.

Personally I don't like to give financial advises on the internet. Simply because I don't know the complete financial situation of the one I am talking to. However, with the current state of the global markets, diversification into other currencies, precious metals just to hedge some of the risks is in my opinion a good way. But take also my last statements with grains of salt.

However, all depends on the financial situation of the person, and above all the risks one dares to take.

I got the impression that you are unsure about the financial outlook. That's why I said that you can always try to talk to a trustworthy financial service who can give you more detailed advises.

Who right now can be considered trustworthy as far as financial advice-I would really like to talk to someone -I know my dad always like a sure-safe bet. Even if it it meant not making much safety of the money was his primary concern. He also has a 5 yr- 5% fixed annuity with about 80K in it. My 24yr old daughter works for Morgan Stanley she has a masters in Buissness-Finance-Economics- I should talk to her but don't want to ever have to hold her responsible for anything

I agree, that's the hard part; who can you really trust? Especially with so many complex financial instruments nowadays, it can get very hard. The first step is to inform yourself as much as possible. You can always ask your daughter's opinion (as she is schooled in finance) without putting a responsibility. Also you can look at the results of the different financial funds in the past years and whether they conform to certain ratings. Furthermore, you can talk to e.g. banks and ask them what kind of financial funds (instruments) they have that is orientated to less risk and more safety.

I hope this helps a bit, good luck.

I would get that money out of the fixed anuity as soon as it matures. You can get that kind of interest in a 12 month cd.

When ING posted their Q2 numbers, they revealed their exposure to the US subprime mortgage market is 0.5% of their total investment portfolio - which accounts to 3 billion US dollars.

ING is being taken over!! just do not have it in a US dollar account.

put it in EC Euro's account, dollar will devalue another 30-40% over next year or two!!

Please more Info on this ING takeover and yes since were in the US it is in dollars. I agree with the annuity but dad just resigned up for anotherb 5 last year. September we can take out 10% of the value without penalties and then we'll roll that into a CD. Dad is 77 and really didn't understand he was locking that money up for 5 years. Nor does he know now he is like "Rainman". It took us 8 months just to hunt down his accounts !!!

ING has an office in St. Cloud, Minnesota. I didn't even know they were a Dutch company. You could probably call them on the telephone and talk to someone in Minnesota about your concerns. That might be a good place to start.

You are smart to be thinking about it and to think about diversifying where funds are kept so that everything isn't in one place.

In a way I am glad I don't have any assets to worry about! I had relatives who lost half the value of their investments around 2001. I wouldn't have done things the way they did but who would listen to me when I am the one who never had any money to start with?

Anyway here's their page with the Frequently Asked Questions:
[link to home.ingdirect.com]
The web site is INGdirect.com

Well my only thought is for my family and close friends. My dad cannot take care of himself so we have to take care of his finances. Thanks for all the help .If anybody thinks of anything else please post