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I am getting ready to set up Roth IRA's for my wife and myself as well as education IRA's for my kids, a total of 4 accounts. Ideally for me it would be nice to invest the money in these acounts in a uniform way. For example I might like to take all of the money in all 4 accounts and invest it in the F4 dividend approach. Can the accounts be somehow linked together such that I only have to place 4 orders for the 4 Foolish 4 stocks or do I have to place the 4 orders for each seperate account, a total of 16 orders?

Any help is much appreciated
Thanks
Andy
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I'm pretty positive that you won't be able to link these accounts. If you're going to do the foolish four you'll probably have 16 separate transactions. The government is pretty strict about IRA funds not being mixed with other funds.

I am self-employed and also have a part-time salaried position. When I recently opened a brokerage account, they said I couldn't have my SEP-IRA in the same account as my regular IRA money. Also, the brokerage said my husband and I could not link our IRA accounts.
They said IRA accounts cannot be a jointly held asset
or be linked in any way to anyone else's money.

Stay foolish,

Lori
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Greetings, Andy, and welcome. You asked:

I am getting ready to set up Roth IRA's for my wife and myself as well as education IRA's for my kids, a total of 4 accounts. Ideally for me it would be nice to invest the money in these acounts in a uniform way. For example I might like to take all of the money in all 4 accounts and invest it in the F4 dividend approach. Can the accounts be somehow linked together such that I only have to place 4 orders for the 4 Foolish 4 stocks or do I have to place the 4 orders for each seperate account, a total of 16 orders?

They will be separate and distinct accounts, and there's no way to link them for ease of trading. You could try to split a single F4 strategy between them, but that approach will become unmanageable after three cycles or so. And trying four F4 strategies (one per account) will initially be costly, particularly in the Education IRAs. Until these accounts reach somewhere around $4K, you may just want to think in terms of a no-load S&P 500 fund.

Regards...Pixy
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Lori, you wrote:

I'm pretty positive that you won't be able to link these accounts. If you're going to do the foolish four you'll probably have 16 separate transactions. The government is pretty strict about IRA funds not being mixed with other funds.

I am self-employed and also have a part-time salaried position. When I recently opened a brokerage account, they said I couldn't have my SEP-IRA in the same account as my regular IRA money. Also, the brokerage said my husband and I could not link our IRA accounts.
They said IRA accounts cannot be a jointly held asset
or be linked in any way to anyone else's money.


You are correct, and so is your broker. But did your broker tell you that after the money hits the SEP-IRA you are free to move it to another, regular IRA? That way you can mass funds together to simplify transactions and/or minimize costs of trading.

Regards....Pixy
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<<I am getting ready to set up Roth IRA's for my wife and myself as well as education IRA's for my kids, a total of 4 accounts. Ideally for me it would be nice to invest the money in these acounts in a uniform way. For example I might like to take all of the money in all 4 accounts and invest it in the F4 dividend approach. Can the accounts be somehow linked together such that I only have to place 4 orders for the 4 Foolish 4 stocks or do I have to place the 4 orders for each seperate account, a total of 16 orders? >>

1) Think carefully before opening educational IRAs. There are some severe disadvantages. Try www.ricedelman.com for writings on this topic.

2a) No, you can't link multiple IRAs together. You can try, but it won't work for long. Because you can't shift money between them to keep in overall balance.

2b) You might consider running a different strategy (or different timing, so you get different stocks) in each IRA.

I run 4 IRAs for me & wife--2 regular and 2 Roth. At first my Roth outperformed hers, and she kept asking why I bought the "good" stocks for myself and the "bad" ones for her. Now, my 3DFX has tubed, so hers is better than mine, and she's happy. Now that she knows that I not purposely stiffing her, she'll be satisfied. WOMEN!!!!!!!!!

Ray
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Ray,

I didn't know you could have more than one IRA. What are the restrictions on this?

I currently have a SEP_IRA and I was wondering if it would be worthwhile to open a ROTH-IRA.

I was also wondering if you can postdate any contributions to an IRA. For example, say I was completely broke in 1996, but now in 1998 I inherited some money from some long-lost relative, could I now add another contribution as if it is for 1996? I am sure the answer is no, but I thought I would ask.

Thanks,
jronhave
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I have multiple IRAs from putting the money in different places in different years. This year I'm striving to get all the money in one place and then do a self-directed IRA. The one thing I caution against is that rollover IRAs should stay segregated since they fall under different rules so they will stay separate for me.


RF...
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jronhave: You can have 100's of different IRA accounts - you just can't contribute more than $2000 per year into any combination of them! If you have a SEP-IRA you may still open & fund a Roth/IRA. And, no, you can't make up for lost opportunity by funding an IRA beyond the tax return filing date for the tax year... PP
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