Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I know the answer to this question, but I just want to be 100% certain. I don't want any error on this.

Instead of switching my Roth IRA to another broker, I just intend on opening another Roth account at a different institution. Can I do that without resetting the 5-year rule? I assume once five years go by after the first Roth account, I can open up as many as I want and then be able to withdraw my deposits (not interest/gains) from any of them at any time.

Another question while I'm here: can I open multiple Roth accounts at the same broker, especially if I may want each one to hold money for a different purpose (long-term investing, swing trading, etc.)?

Thank you...
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
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.