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Hello to all
Question on the roth IRA's. I have a roth IRA account in a mutual fund company. If I do not max out my IRA there (ex. $1000), can I open another Roth IRA account in my discount brokerage firm for the rest?
Trying to become foolish and invest in individual stocks and not mutual funds.

Thanks in advance

Jchindo
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I believe that you can have only one IRA. You can have different assets (such as mutual funds) for different companies, but it is still considered one IRA. You stated “I have a Roth IRA account in a mutual fund company.” Consider that account as part of your IRA. You can have your IRA spread throughout a dozen investment companies if you wish.

So to answer your question, the annual contribution limit is just that, a limit. You can mail $ 2,000 to one mutual fund, or you can mail $ 200 to 10 mutual funds - matters not.

Hope I was of help. David
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I have a Roth IRA through Vanguard and TD Ameritrade. This is my first year with both, but when I signed up TD Ameritrade the guy said it wasn't a problem to have two, but the $4k cap (or more if you're older) applies to the aggregate of IRAs. So I can put $2k in each for a total of $4k, but not $4k in each.

So, you can have an many IRAs as you want, but the contribution limit is an aggregate of all the accounts.

That's my understanding, anyway...

I'll clarify and say that you can have as many _Roth_ IRAs as you want....I don't know if you can have a Roth IRA and a Traditional IRA and put $2k in each. That's beyond my knowledge.

-Tyler
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wow, so sorry!! ...I didn't realize this post was so ancient....sometimes I hate the board views!
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...So, you can have an many IRAs as you want, but the contribution limit is an aggregate of all the accounts.
...
I'll clarify and say that you can have as many _Roth_ IRAs as you want....I don't know if you can have a Roth IRA and a Traditional IRA and put $2k in each. That's beyond my knowledge.


I've done all the above without the IRS knocking on my door.

Good luck,

TB
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