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Author: rkmacdonald Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76235  
Subject: Re: Roth IRA questions (2 of em) Date: 9/30/2004 6:02 PM
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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.

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