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Author: craigflannagan Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75385  
Subject: Multiple Roth IRA accounts? Date: 2/10/2007 11:20 PM
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Basic question -

Can I have two "funded" Roth IRA accounts? I know that I am subject to yearly contribution limit ($4k I believe last time I checked).. can I put $2k in one, $2k in another?

Reason for this is because I want to open a Roth IRA account with Janus in order to have 1/2 of my money invested in one of their mutual funds (my wife is a longtime Janus mutual fund investor and we both love the Janus Overseas fund), and another 1/2 in something like TradeKing or other discount brokerage where I will do more hands-on investing.

So, hopefully I can have two Roth IRA accounts for this purpose, or is it against the code?

Thanks in advance.
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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 55732 of 75385
Subject: Re: Multiple Roth IRA accounts? Date: 2/10/2007 11:28 PM
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So, hopefully I can have two Roth IRA accounts for this purpose,

Sure, you can have two different Roth accounts. You can have as many different accounts as you feel like keeping track of.

--Peter

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Author: compoundview Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 55733 of 75385
Subject: Re: Multiple Roth IRA accounts? Date: 2/10/2007 11:29 PM
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Can I have two "funded" Roth IRA accounts?

As long as you adhere to the annual contribution limits, you may have as many Roth IRA accounts as you wish.

cv

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Author: Hohum77 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 55755 of 75385
Subject: Re: Multiple Roth IRA accounts? Date: 2/11/2007 4:04 PM
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Can I have two "funded" Roth IRA accounts? I know that I am subject to yearly contribution limit ($4k I believe last time I checked).. can I put $2k in one, $2k in another?


Yes, you can.

If you do some preliminary calculations, and it is feasible, you can make it a Roth IRA + deductible IRA combination. The contribution limit still applies to the combination.


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Author: MarinBMWZ4 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 55926 of 75385
Subject: Re: Multiple Roth IRA accounts? Date: 2/20/2007 12:00 AM
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I have 7 different ROTHs and the same 7 in IRA accounts. Due to income limitations (no limit to the amount I can make, just the ROTH funding :) I decided to open the same funds but in the IRA style. I like my fund selections, so why not. The wife has the same funds.

Then there is the 401k....

Meridian Growth & Income
Meridian Value
Parnassus Equity Income
TR Price International Equity
TR Price Emerging European and Mediterranean
Third Ave REIT Value
Matthews India Fund

MZ4

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