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Greetings, Shownuff, and welcome. You wrote:

<<I've just been rehired at Thomas J. Lipton.
When I was laid off in 95' I rolled my 401-K into a self directed IRA, then into a Roth IRA in 98'.
I'm investing in the Foolish-4 (now RP4).
My question: Should I establish another 401-K account, and when I leave the job (since it's temporary), roll it into a Roth IRA?
This way I will have two Roth IRAs, and I can invest in future Rule Breaker Companies. I invest in Rule Maker companies via Drip when ever possible ie... Coca Cola, Intel.>>

Certainly you should participate in your new employer's 401k plan to the extent that you receive the maximum possible match to your contributions from that employer. Beyond that level you must analyze the benefit of further contributions as compared to what you could amass outside that plan. See Step 4 of my 13 Steps to Foolish Retirement Planning at for details on doing that kind of analysis. Also, be aware that you cannot go directly to a Roth IRA from a 401k plan. The 401k money must first go to a traditional IRA. Once there, you may then further transfer the money to a Roth IRA. And if that's what you intend doing, why have two Roth IRAs? Administratively, it's much easier to keep track of one. Simply transfer the money to the existing Roth if that makes sense to you.

<<Second question: Can I contribute the maximum $2K to each Roth IRA?>>

No, you may not. The total of all your contributions to all IRA in any year cannot exceed the smaller of your pay or $2K. If you have two IRA, you may contribute $1 to one an $1,999 to other, $2K to one and nothing to the other, or any combination in between.

<<Third question: If I can't have two seperate Roth IRA accounts, can I roll over my second 401-k into my existing Roth IRA?>>

Not without having the money stop in a traditional IRA first, but ultimately you can get it into the existing Roth IRA.

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