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skibum73 wrote:
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.)

You can do this, but I recommend that you don't. Instead, build up the money in a savings account over the course of the year and deposit it next year, after you do your taxes. The only time you should not do this is if you are absolutely certain that you won't exceed the AGI limit for contributions. If you add the money gradually over the course of the year and then find out you're over the limit, you'll have to go through the painful and poorly-documented process of backing out those contributions and the gains they've made. I've been there, and it's not worth the trouble.

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 can do whatever you want. If you sell some stocks you can keep the money in cash for as long or as short a period as you choose, from seconds to years.

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?

You can put the new money into the account you already have. There are a few circumstances where you don't want to do that, the most important being the case of a Traditional IRA which consists entirely of a rollover from a qualified plan and which you might want to roll over to another qualified plan in the future. As soon as you contribute to such an account the IRS prohibits you from rolling it over again. All the other situations where you might want to put new money into a new or different account have to do with personal choices like opening a new account with a new broker or stuff like that. They don't come up all that often.

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