Roth IRA transfer ?

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Topic Author
Fishing2retire
Posts: 43
Joined: Mon Jun 10, 2019 2:02 pm

Roth IRA transfer ?

Post by Fishing2retire » Thu Nov 07, 2019 5:51 pm

Hello friends. I currently have my Roth IRA with Vanguard. My wife is wanting to liquidate her Roth IRA at another firm and transfer into vanguard. Can I do that under my account or does she have to open her own account? Was hoping we can have it under the same account to be able to view both at the same time/place instead of two different logins.

Thanks

retiredjg
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Joined: Thu Jan 10, 2008 12:56 pm

Re: Roth IRA transfer ?

Post by retiredjg » Thu Nov 07, 2019 5:55 pm

She must have her own Roth IRA. She cannot put her money into yours. However, I've heard Vanguard does have a way to set things up so that both can be seen with one log in.

Silk McCue
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Joined: Thu Feb 25, 2016 7:11 pm

Re: Roth IRA transfer ?

Post by Silk McCue » Thu Nov 07, 2019 5:56 pm

These are Individual Retirement Accounts so she will have to have her own brokerage account to house it. You can easily set it up so that each of you can see both accounts when you login in to your personal login. That's what we have done.

Do yourself a big favor and have Vanguard pull the Roth from the other firm. DO NOT have the current firm mail you a check that you then send to Vanguard unless you want to risk causing problems with the IRS.

Cheers

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Brianmcg321
Posts: 256
Joined: Mon Jul 15, 2019 8:23 am

Re: Roth IRA transfer ?

Post by Brianmcg321 » Thu Nov 07, 2019 6:03 pm

Just have your wife call Vanguard and they will take care of everything. Its a simple process.
Rules to investing: | 1. Don't lose money. | 2. Don't forget rule number 1.

jeff1949
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Location: Salem, OR

Re: Roth IRA transfer ?

Post by jeff1949 » Thu Nov 07, 2019 6:20 pm

Fishing2retire wrote:
Thu Nov 07, 2019 5:51 pm
Hello friends. I currently have my Roth IRA with Vanguard. My wife is wanting to liquidate her Roth IRA at another firm and transfer into vanguard. Can I do that under my account or does she have to open her own account? Was hoping we can have it under the same account to be able to view both at the same time/place instead of two different logins.

Thanks
What ever you do.....DO NOT liquidate the Roth IRA! Contact Vanguard and have the Roth IRA TRANSFERRED. You will lose the Roth IRA status if you liquidate before the transfer.

Topic Author
Fishing2retire
Posts: 43
Joined: Mon Jun 10, 2019 2:02 pm

Re: Roth IRA transfer ?

Post by Fishing2retire » Thu Nov 07, 2019 6:44 pm

Thanks everyone for the advice I will have her open an account for just her with vanguard to start the transfer. and she will start saving money instead of paying the 1.35% Aum. Plus the high ER’s and the 9 funds her advisor has her in. I will either have her do a TDF or 3 fund.

Lalamimi
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Joined: Mon Jun 24, 2019 4:22 pm

Re: Roth IRA transfer ?

Post by Lalamimi » Thu Nov 07, 2019 6:57 pm

You should be able to link the accounts for access. Edward Jones lets us do that!

Silk McCue
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Joined: Thu Feb 25, 2016 7:11 pm

Re: Roth IRA transfer ?

Post by Silk McCue » Thu Nov 07, 2019 7:12 pm

Lalamimi wrote:
Thu Nov 07, 2019 6:57 pm
You should be able to link the accounts for access. Edward Jones lets us do that!
Are you still with Edward Jones? If so, are you planning to leave to a low cost provider?

Cheers

HeelaMonster
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Joined: Sat Aug 10, 2019 11:46 am

Re: Roth IRA transfer ?

Post by HeelaMonster » Thu Nov 07, 2019 7:42 pm

As others have said, it is a simple thing to have your family accounts in VG linked so they all display together under a single login (to be honest, it's always been that way for ours, so never dawned on me it would be any other way!). We have 7-8 separate accounts (his and hers Trad IRAs, his and hers Roth IRAs, joint brokerage, joint taxable, son's brokerage) and they all show up on one master page, with totals for each account plus a grand total.

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Brianmcg321
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Re: Roth IRA transfer ?

Post by Brianmcg321 » Thu Nov 07, 2019 8:30 pm

HeelaMonster wrote:
Thu Nov 07, 2019 7:42 pm
As others have said, it is a simple thing to have your family accounts in VG linked so they all display together under a single login (to be honest, it's always been that way for ours, so never dawned on me it would be any other way!). We have 7-8 separate accounts (his and hers Trad IRAs, his and hers Roth IRAs, joint brokerage, joint taxable, son's brokerage) and they all show up on one master page, with totals for each account plus a grand total.
How did you do that. I don't see that as an option anywhere on their site.
Rules to investing: | 1. Don't lose money. | 2. Don't forget rule number 1.

Topic Author
Fishing2retire
Posts: 43
Joined: Mon Jun 10, 2019 2:02 pm

Re: Roth IRA transfer ?

Post by Fishing2retire » Thu Nov 07, 2019 8:39 pm

I used to be with Edward Jones only my wife is now. I showed her how fees can effect her end balance from a ling I found on here and she was amazed on how much more she could potentially have.

HeelaMonster
Posts: 105
Joined: Sat Aug 10, 2019 11:46 am

Re: Roth IRA transfer ?

Post by HeelaMonster » Thu Nov 07, 2019 9:47 pm

Brianmcg321 wrote:
Thu Nov 07, 2019 8:30 pm
HeelaMonster wrote:
Thu Nov 07, 2019 7:42 pm
As others have said, it is a simple thing to have your family accounts in VG linked so they all display together under a single login (to be honest, it's always been that way for ours, so never dawned on me it would be any other way!). We have 7-8 separate accounts (his and hers Trad IRAs, his and hers Roth IRAs, joint brokerage, joint taxable, son's brokerage) and they all show up on one master page, with totals for each account plus a grand total.
How did you do that. I don't see that as an option anywhere on their site.
Unfortunately, I can't recall how this came to be, or what exactly we did to initiate. As said, it's been set up this way as long as we've been with VG... which is much longer than my memory. But here is one set of instructions that may help. I just checked our VG accounts now, looking under ACCOUNT MAINTENANCE --> ACCOUNT PERMISSIONS... and I have full authority to ALL of our accounts, not only our joint accounts, but individual accounts for other family members.

https://www.mymoneyblog.com/view-your-s ... guard.html

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Brianmcg321
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Re: Roth IRA transfer ?

Post by Brianmcg321 » Thu Nov 07, 2019 9:48 pm

HeelaMonster wrote:
Thu Nov 07, 2019 9:47 pm
Brianmcg321 wrote:
Thu Nov 07, 2019 8:30 pm
HeelaMonster wrote:
Thu Nov 07, 2019 7:42 pm
As others have said, it is a simple thing to have your family accounts in VG linked so they all display together under a single login (to be honest, it's always been that way for ours, so never dawned on me it would be any other way!). We have 7-8 separate accounts (his and hers Trad IRAs, his and hers Roth IRAs, joint brokerage, joint taxable, son's brokerage) and they all show up on one master page, with totals for each account plus a grand total.
How did you do that. I don't see that as an option anywhere on their site.
Unfortunately, I can't recall how this came to be, or what exactly we did to initiate. As said, it's been set up this way as long as we've been with VG... which is much longer than my memory. But here is one set of instructions that may help. I just checked our VG accounts now, looking under ACCOUNT MAINTENANCE --> ACCOUNT PERMISSIONS... and I have full authority to ALL of our accounts, not only our joint accounts, but individual accounts for other family members.

https://www.mymoneyblog.com/view-your-s ... guard.html

Thanks. That worked like a charm.
Rules to investing: | 1. Don't lose money. | 2. Don't forget rule number 1.

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