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Author: dbbb1969 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1483  
Subject: Roth IRA Date: 2/18/2009 12:49 PM
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Can anyone address this question- If a self employed person has a SEP-IRA, can they stop contributing to it and just let is sit and start a separate new Roth IRA or can they only convert their existing IRA to a Roth? Thanks very much for any thoughts.
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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1330 of 1483
Subject: Re: Roth IRA Date: 2/18/2009 12:57 PM
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IRA rules place limits on the contributions you can make in any one year. You are not limited in the number of accounts you can own.

As a practical matter, maintenance fees for small accounts can be burdensome. So many will consolidate their various accounts when practical to minimize fees, get better services from their custodian, and reduce paperwork and recordkeeping.

But there can also be good reasons to keep account separate especially in retirement (different beneficiaries, 72t distributions, etc, etc).

One size does not fit all. Make the choice that fits your circumstances.

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