Skip to main content
No. of Recommendations: 0
Greetings, Pedyrn, and welcome. You asked:

<<I have $4700.00 in my 403b account. I am not currently working for that employer any longer and am currently unemployed but wish to transfer my funds. Can I open 2 seperate Conduit(rollover) IRA accounts with that money, or am I restricted to opening 1 IRA account? Or if anyone has any better suggestions on what to do with my funds i would appreciate it. Thanks >>

Yes, you may have that money transferred to as many different IRAs as you wish. There is no restriction on how many accounts you may fund with those proceeds. Be aware, though, that such a procedure will complicate your administration due to multiple statements and probably will increase your administrative expense as well. Unless you have a good reason to do so (i.e., you want to split your money between a broker and/or mutual fund families), it may may be simpler and cheaper to leave it all within one account.

Regards..Pixy
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.