Author Topic: Should I open my own vanguard account, or use someone else's?  (Read 348 times)

Nicholas Carter

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So today I'm hoping to open an after tax Vanguard account, set up a new user name, etc. However I've realized that my spouse already has a vanguard account for their 401k. Should I open my own post tax account in my own name, or just connect my bank account to my spouse's vanguard account?

SwordGuy

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Re: Should I open my own vanguard account, or use someone else's?
« Reply #1 on: March 13, 2020, 11:22:03 AM »
You should both have accounts and have Vanguard link them.

So, for example, we both have IRAs under our own accounts, and we have jointly owned holdings that are linked to both accounts.

Don't be in a position where you can't access your funds, which could happen for any number of unpleasant reasons.

Vapour

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Re: Should I open my own vanguard account, or use someone else's?
« Reply #2 on: March 13, 2020, 11:29:44 AM »
I would recommend opening a new joint account that you and your spouse both have ownership of and access to.  You need a new account anyway, since your spouse's 401k account will not work for after tax money.  Note that "account" is different than "login."  I think you'd create your own "login" for the new account and I would expect that it would eventually show up in your spouse's "login" that they currently use for their 401k.

This is assuming that you want joint accounts in your marriage.  If you want it to be solely your account, obviously connecting through your spouse's account won't work anyway.

terran

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Re: Should I open my own vanguard account, or use someone else's?
« Reply #3 on: March 13, 2020, 11:44:49 AM »
You should have your own username so as not to run afoul of Vanguard's terms of service, but sharing a taxable account with your spouse (opening a joint account) is a fine idea. All retirement accounts are individual accounts, so you can't share them.

SwordGuy

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Re: Should I open my own vanguard account, or use someone else's?
« Reply #4 on: March 13, 2020, 02:14:53 PM »
I would recommend opening a new joint account that you and your spouse both have ownership of and access to.  You need a new account anyway, since your spouse's 401k account will not work for after tax money.  Note that "account" is different than "login."  I think you'd create your own "login" for the new account and I would expect that it would eventually show up in your spouse's "login" that they currently use for their 401k.

This is assuming that you want joint accounts in your marriage.  If you want it to be solely your account, obviously connecting through your spouse's account won't work anyway.

You are correct, we have two logins (one each) with some items belonging to both of us (and visible from both logins) and other items only visible to one login.