Is it possible to open a Roth for my wife under my account?

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primetime5
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Joined: Mon Mar 21, 2016 9:28 pm

Is it possible to open a Roth for my wife under my account?

Post by primetime5 »

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).
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FiveK
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Re: Is it possible to open a Roth for my wife under my account?

Post by FiveK »

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.
02nz
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Re: Is it possible to open a Roth for my wife under my account?

Post by 02nz »

The I in IRA stands for individual, so no.
Wyodoc
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Re: Is it possible to open a Roth for my wife under my account?

Post by Wyodoc »

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.
aristotelian
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Re: Is it possible to open a Roth for my wife under my account?

Post by aristotelian »

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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primetime5
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Re: Is it possible to open a Roth for my wife under my account?

Post by primetime5 »

FiveK wrote: Tue Jul 02, 2019 12:17 am 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.
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?
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lthenderson
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Re: Is it possible to open a Roth for my wife under my account?

Post by lthenderson »

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.
+1 This has been my experience as well.
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petercooperjr
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Re: Is it possible to open a Roth for my wife under my account?

Post by petercooperjr »

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?
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."
bluebolt
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Re: Is it possible to open a Roth for my wife under my account?

Post by bluebolt »

primetime5 wrote: Tue Jul 02, 2019 9:02 am
FiveK wrote: Tue Jul 02, 2019 12:17 am 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.
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?
On Fidelity, you can grant access here:

https://digital.fidelity.com/ftgw/digit ... horization
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