No. of Recommendations: 1
outlaw...

This is a snip from the "Fool's" section on retirement vehicles:

"...One person's annual contribution, whether made to just one or to multiple IRAs, is limited to the lesser of total taxable compensation or to the normal yearly amount shown in the following table. Persons age 50 or older may make an additional catch-up contribution in the amount indicated in the table below."

Traditional and Roth IRA
Annual Contribution Limits

Year Normal Catch-up
----------------------------
2001 $2,000 $0
2002 $3,000 $500
2003 $3,000 $500
2004 $3,000 $500
2005 $4,000 $500
2006 $4,000 $1,000
2007 $4,000 $1,000
2008 $5,000 $1,000
2009+ Indexed* $1,000

http://www.fool.com/retirement.htm?source=PFinAg

Said another way - you can have as many different Traditional and/or Roth IRAs as you wish, however, the total contribution per tax year for all of them together cannot exceed $3,000 per individual taxpayer.

Bill
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