Hello, I’m considering opening a Roth IRA for my sister and making contributions on her behalf. Her annual income is $54,000. I’d like to manage the account myself if possible. Would it be allowed to link my personal checking account to her Roth IRA for funding purposes?
Currently, I have a Fidelity account for my 401(k) and a Vanguard account for my Roth IRA. Would you recommend opening her account with Fidelity or Vanguard, or does it not make much difference? My main goal is to ensure an easy way to transfer money to her Roth IRA if linking my checking account isn’t an option.
Currently, I have a Fidelity account for my 401(k) and a Vanguard account for my Roth IRA. Would you recommend opening her account with Fidelity or Vanguard, or does it not make much difference? My main goal is to ensure an easy way to transfer money to her Roth IRA if linking my checking account isn’t an option.
Statistics: Posted by gogent — Sat Jan 18, 2025 12:59 pm — Replies 4 — Views 419