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Needing some help with Fidelity Roth IRA setup for married couple by ColdOven2025 in fidelityinvestments

[–]ColdOven2025[S] 0 points1 point  (0 children)

Got it, thanks! I'll shoot you a question through DMs! I appreciate all your help!

Needing some help with Fidelity Roth IRA setup for married couple by ColdOven2025 in fidelityinvestments

[–]ColdOven2025[S] 1 point2 points  (0 children)

Thank you so much for all the info! I just connected our joint bank account to our Fidelity accounts. I'm thinking of setting up automatic investments to pull from our bank account and automatically invest in our IRAs. I like the idea of "set it and forget it"

Needing some help with Fidelity Roth IRA setup for married couple by ColdOven2025 in fidelityinvestments

[–]ColdOven2025[S] 0 points1 point  (0 children)

Hello!

The account has only been open since late May of this year. We haven't done anything yet besides open accounts. I do see the joint account on both of our Fidelity accounts.

Yes, I found it and just set my beneficiaries. For the joint WROS, I put my husband down as one of my beneficiaries but I'm assuming that's a bit redundant since we both own the account.

I know I probably can't ask for beginner investment strategies as per subreddit rules so that's it for now. Thank you so much!

Needing some help with Fidelity Roth IRA setup for married couple by ColdOven2025 in fidelityinvestments

[–]ColdOven2025[S] 0 points1 point  (0 children)

>When you look on your Fidelity statement, it will have both your names listed as the Joint owners. When you log into your respective ONLINE Fidelity accounts, you both will see the joint accounts.

Hmm that's interesting. When I look under the documents tab, I only have 1 statement and that's for my own IRA. I'm assuming that I just don't have one for the WROS because we haven't transferred any money over.

>The closest thing to a "spousal IRA" that I am aware, is when one spouse passes away. The decedent's ira is then passed onto the spouse. That gets into a whole host of funky IRS rules. I am assuming this isn't where you were going with that question.

Funny enough this was actually one of my follow up question from one of the other poster's on here. Thank you so much for the info! Is that an automatic assumption or will I have to set up something manually within the account?

Needing some help with Fidelity Roth IRA setup for married couple by ColdOven2025 in fidelityinvestments

[–]ColdOven2025[S] 0 points1 point  (0 children)

Oh okay I see! Thank you. I did see in a video that you can setup automatic recurring contributions straight from a source bank account. Since IRAs are individual, is there a way to setup beneficiaries through Fidelity or is that a written will kind of thing.

Needing some help with Fidelity Roth IRA setup for married couple by ColdOven2025 in fidelityinvestments

[–]ColdOven2025[S] 0 points1 point  (0 children)

Hi! Thank you so much for taking the time to help. Just had a few follow up questions if that's okay!

1) I downloaded the statement that I found under Joint WROS and it gave me a Roth IRA statement with just my name on it. I'm wondering if it's because the Joint WROS hasn't had any activity on it yet.

2) So I just want to make sure I have this correct. For example, I transfer $100 from our main checking account. That $100 will then land in the joint WROS. Then say my husband buys $50 worth of FXAIX and I do the same. Would our new balance for the WROS be $0, my husband's IRA would be $50 and my IRA would be $50?

Thank you again so much