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You can have as many traditional IRA accounts and Roth IRA accounts as you want with as many companies as you want as long as the total amount you put in each year does not exceed the current limit for your income. For 2005, the limit is $5,000 for those allowed the maximum. It all depends on what you want to do and how much tracking you want to do. Since it sounds as if you are just starting, you might consider an mutual fund for your IRA until you have built up enough to make investing in individual stock. For some companies, you might have to pay a small yearly fee until you have more than $10,000 in your account.

Your credit union probably only has money market accounts and CDs options for an IRA. That is one way to start until you learn more about investing.

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