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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.

It may be worth breaking up between institutions if you hit the limit of the insurance for that institution ($100,000/depositor for FDIC or NCUA insured institutions, much higher for SPIC-insured institutions). Or it may make sense to break it up to pick the most appropriate custodians, e.g., a discount broker where you buy and sell individual stocks, a fund family if you have mutual funds in a specific fund family, depending on your investment plan and the instruments that best fulfill that plan.

Personally, I prefer having my assets at several different institutions. So in my case, my pension is at one organization (actually, I have no choice in this, but I lucked out on a very good pension plan!), my 403(b) is at another institution, my taxable investments and Roth IRA are at a third, and my checking and emergency fund are at a fourth. My thinking is that if there is something that happens that makes my assets inaccessable at one institution, I will probably be able to use assets from another while the problem with the first is being resolved.
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