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Investing/Strategies / Retirement Investing
|Subject: Re: how many IRA's can you have?||Date: 2/1/2000 3:58 PM|
|Author: JAFO31||Number: 18577 of 77106|
goldencastle: <<<<I recently opened up a Roth IRA for myself with an on line broker. My wife opened up her Roth IRA through a mutual fund company. We are both beginning investors.
I see people say "in one of my IRAs" or "in my Roth IRA blah blah....and in my regular IRA blah blah..."
The question is, aren't you only allowed to have one IRA in your name? I mean, I have my Roth IRA, can I open up another one, maybe a regular IRA too?
If anyone can point out the answer, please let me know. I was pretty sure that you can only have one per person (either Roth or Traditional), just starting to second guess myself..>>>>
TheBadger: "1000's & 1000's. Actually, there are now at least 10 different types of IRA's which generally need to kept separate; then, you may open up anew, or split old IRA's into as many as might like."
Two things that The Badger forgot to mention, you may only contribute a maximum of $2000 total to any/all regular and Roth IRAs that you may have. I am sure that this must discussed in detail in the FAQ on the Taxes board and in the Fool school.
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