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Reply to "SAHMs, how much money do you have in your own name that is not joint?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP: I assume your 401k is rolled over to an IRA at place like Fidelity or Vanguard. Wherever, go to their website. Transfer $10,000 to your IRA account (from one of your joint accounts) and click "make a ROTH contribution for 2016". Open a ROTH account and transfer $5000 to it (today or any day before April 18, 2017) for 2016. Then repeat the process for 2017 (today or any day before April 16, 2018). Then every January contribute the max allowable. [b]Every non income-earning spouse should be doing this every year[/b]! [/quote] This just makes good financial sense (no judgment about marriage necessary). [/quote] OP here. I just kept it at my old company 401k (American Funds) as I have been satisfied with my returns. I do not have a ROTH IRA. I will look into that and definitely start making contributions. Is there a max? I know DH maxes everything he can for his retirement. I would like to start doing the same. I don't think he would have any problem putting in small (5k) or maybe even large (100k) amounts of money into my retirement. I just never brought it up before.[/quote]
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