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Skibum73 writes:

<<My online broker was unable to answer these few questions:

1) Is it possible to put money into an existing Roth IRA account on a monthly or quarterly basis? (I just opened my new Roth account for 1998 with $2000 and I now want to start adding for 1999 but I dont have the full $2000.)>>

Almost all brokers allow that. In fact, I know of none that don't. Just send the money to the account via a cover letter that clearly designates it as a contribution for tax-year 1999.

<<2) If I sell the stocks in my account do I have to buy new stocks immediately or can I keep that amount in cash until I decide what new stocks to buy?>>

You may trade when you are ready to do so. There's no requirement for immediate purchase.

<<3) Do I have to open a new account for each individual year in my Roth? (ie seperate accounts for 1998, 1999, 2000....etc) Or is it acceptable (legal) to have one account only?>>

No, you don't. All you need is one account. As you make your deposits, just designate them clearly as being for the tax-years involved.



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