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Author: MrFrito Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75615  
Subject: Dumb IRA Question Date: 1/31/2001 9:27 PM
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No, this really is a dumb question. I just want to know: can have more than one IRA account so long as my total contributions to both aren't over 2K/yr? I think the answer is rather obvious, but I haven't been able to find confirmation on this and don't have time to root around on the Net right now.

My current IRA is a Roth. It's in the form of a mutual fund with Fidelity. I want to open a 2nd Roth IRA in a trading account with Brown & Co, my online broker. BrownCo is allowing IRAs to be opened for less than 5K this year. I just want to make sure I can simultaneously maintain two IRAs.

TIA for all responses.
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Author: memupp Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 27608 of 75615
Subject: Re: Dumb IRA Question Date: 1/31/2001 9:34 PM
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"can have more than one IRA account so long as my total contributions to both aren't over 2K/yr?"

That is correct.

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Author: Ringfinger Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 27618 of 75615
Subject: Re: Dumb IRA Question Date: 2/1/2001 11:38 AM
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Well, two is okay, three is okay. I have three...

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Author: breakermaker One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 27863 of 75615
Subject: Re: Dumb IRA Question Date: 2/13/2001 2:43 PM
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As people on this site adviced me, you can have as many IRA accounts as your heart desires - as long as you do not exceed the maximum allowed contribution in all of them combined.

But an issue to consider is the annual fee you will be paying on each of the accounts. If you had all accounts consolidated in one, the amount of money you pay each year as fees will be a much smaller percentage of the total money invested than if you pay the fee on several accounts and spread your investment money in several accounts.




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