Hi all. I’m from the UK and have been investing on a monthly basis for around 8 months now, mostly in the S&P 500 with Fidelity.
Anyway, I’ve recently convinced my wife to also begin investing. So, my question is, should we both be investing into the same fidelity account or should she set up her own account and start from £0?
It feels like an obvious answer, but I just thought I’d get some clarity. Thanks!
Michael
This purely 100% my opinion, but I believe each should have their own account. Please bare in mind I am US based and all.
If you’re talking about whether it makes a difference growth wise…not really.
Thanks for your response!
I’d of thought contributing more into a index fund would help it grow quicker? I.e £1000 (£500 each) per month, rather than £500 (just me).
Unless Im thinking about it the wrong way
If all variables are the same and you take the same 1,000 and split it between the exact same funds the growth is the same.
For example, if the growth is 12%, the growth of 12% on 500 + 500 is the same on the 12% of 1000. You still get the same growth from the same fund on the 1,000 total.
Sorry, maybe I worded my previous post incorrectly.
I currently invest 500 per month into an index fund. However my question is can/should my wife also invest into the same fund in my account? Helping our money grow faster?
Then we’d each be investing 500. So we’d be investing 1000, rather than just me investing 500 by myself.
Hope that makes sense.
To the question - should you as a couple invest more? (double up the investment) if you can - yes!
To reinforce the point of Chadmethner and also - my personal opinion:
If your partner can invest 500, she should do it in her own investing account (same company, same etf even).
Just have two separate accounts where each one invest 500, you will have the same outcome, but easier if you need to take different directions on the future. Just a suggestion.
Best
JM
Okay, that makes total sense. Thank you both for all your help 