What Is A Joint Roth IRA?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Even though you are married, you cannot have a joint Roth IRA. Each of you can each contribute up to the annual limit to your own individual Roth IRAs. This allows a couple to set aside twice as much per year as they otherwise would have been able to save individually.
    Answered on November 3, 2014
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  2. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    What is a joint Roth IRA? Well? as far as I know there is no such thing as a Joint Roth Individual Retirement Account. If you didn't catch it in the name, an IRA is an individual account, not really a joint account. What you might be really asking is are surrender or change decisions a "joint" decision if you're married? Depending on the state the answer could be yes. So if someone who is married cashes out their plan in some states it requires the spouses signature as well.
    Answered on October 21, 2015
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