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No. of Recommendations: 1
Q1: Depending on your age and goals, the Roth IRA contributions alone will probably not be enough to retire on. So sure, under the circumstances max your Roth IRA first, but don't stop there. Increase your savings rate as soon as you can. Your pension plan probably has a much higher maximum. So max both if you can. If pension plan investments are poor, then do a taxable account, invested long term buy and hold style (LTBH) to minimize income taxes.

Q2: I'll pass on this one. Your father can probably move the account without penalty. You might be able to, but only if you have inherited it as a beneficiary.

Q3: IRA and Roth IRA are INDIVIDUAL accounts. You and your wife must have separate accounts. They can be funded from your joint saving/income, but once funded, they become individually your own/her own.
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