UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: Re: How many IRAs can I have? Date: 4/7/2001 4:29 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Greetings, Cherry, and welcome. You asked:

I have a question that may or may not seem bizarre. I am married. I have a 401k and my husband does not. My question is: how many IRAs and ROTH IRAs can we open between us? I would like to have another separate IRA for myself and my husband also wants one. Can we each have both an IRA and a Roth? Just wondering.

You may have as many traditional and Roth IRAs in your name as you can make arrangements for, and the same goes for your spouse. You just cannot contribute more than the allowable $2K per year to all of them combined. Together you and your spouse may contribute up to $4K per year. You each could contribute $1 to 1,000 of your own traditional IRAs and $1 to another 1,000 of your own Roth IRAs, or any combination thereof, just as long as the total contribution you make to all IRAs does not exceed the annual limit of $2K. Your hubby gets up to $2K to use for his IRAs, and you get up to $2K to use for your IRAs.

Regards..Pixy
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Value Hounds

Mylan Transitioning from Generics
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement