Is it possible to open a Roth for my wife under my account?
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Is it possible to open a Roth for my wife under my account?
Or does she have to have her own account? I was kinda of hoping to household these so one login lets me see her assets as well. I have accounts at Vanguard, Wealthfront, and Fidelity (which is my preference).
Re: Is it possible to open a Roth for my wife under my account?
She must have her own account (the I in IRA stands for "Individual") but she can give you the ability to see her account at any of the usual brokerages.
Re: Is it possible to open a Roth for my wife under my account?
The I in IRA stands for individual, so no.
Re: Is it possible to open a Roth for my wife under my account?
You did not make it clear where you house the IRA but I know at Vanguard you can open the account separately but allow it to be viewed and managed from your account. I’ve been making deposits and managing my spouses IRA for a few years now without ever logging into the other account. The other brokers may have same option.
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Re: Is it possible to open a Roth for my wife under my account?
Has to have her own account but I believe they can be linked, or she can even give you agent authorization for full trading privileges. Personally, I think it is good practice for a spouse to be at least minimally involved in the finances enough to have their own IRA that they access a couple times a year.
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Re: Is it possible to open a Roth for my wife under my account?
Of course, it's her own account, but do you happen to know the mechanics of giving the ability to see her account from mine specifically?
- lthenderson
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Re: Is it possible to open a Roth for my wife under my account?
+1 This has been my experience as well.Wyodoc wrote: ↑Tue Jul 02, 2019 4:52 am You did not make it clear where you house the IRA but I know at Vanguard you can open the account separately but allow it to be viewed and managed from your account. I’ve been making deposits and managing my spouses IRA for a few years now without ever logging into the other account. The other brokers may have same option.
- petercooperjr
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Re: Is it possible to open a Roth for my wife under my account?
What brokerage? For Vanguard, she fills out the "Agent Authorization Form". Click on "Forms" in the top right, and choose the "Start" button under "Account access: Grant another person the authority to obtain information from or act on your account."primetime5 wrote: ↑Tue Jul 02, 2019 9:02 am Of course, it's her own account, but do you happen to know the mechanics of giving the ability to see her account from mine specifically?
Re: Is it possible to open a Roth for my wife under my account?
On Fidelity, you can grant access here:primetime5 wrote: ↑Tue Jul 02, 2019 9:02 amOf course, it's her own account, but do you happen to know the mechanics of giving the ability to see her account from mine specifically?
https://digital.fidelity.com/ftgw/digit ... horization