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Hello Rodeslyn:
Is there a maximum amount you should have in an IRA?

If you have an IRA with $200,000 or $300,000 in it, should you open a new one or just keep adding more money to the single large account.

No, it shouldn't matter how much one accumulates in an IRA account. Hopefully, you've chosen a custodian for this account that you researched and discovered they had a successful track record and a relatively long history of quality service that will allow them to keep their current customers, as well as attract new ones. Although one can't really be 100 certain, you should be fairly certain after doing your due dilligence. IMHO, your asset allocation (what percentage between different assets you split your money into) should be more important.

Some investors have two or more IRAs because each brokerage house does some things better than others, like options, lower costs for limit orders, some are more condusive to those who trade more frequently, etc.


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