No. of Recommendations: 0
Author: Ceberon | Date: 9/28/04 10:48 AM | Number: 42464
1. My wife and I both would need accounts correct? Is there any way to combine them so that I don't need to manage two accounts? I assume that in theory we both have a limit of $4k per year (or whatever the limit is this year), and would need to have 2 separate accounts.

Just to make it clear. Not only do you and your wife have to have separate IRA's, as previously mentioned, but you are not legally allowed to manage your wife's account unless you hold a power of attorney. Your IRA custodian will get very upset (and possibly freeze the account) if they ever find out that you are making trades in your wife's account.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.