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You can have as many IRA's as you want as long as you follow the rules on annual contributions. But each IRA has a maintenace fee. As far as I know, the only reason to roll over some or all of your 401k money into an IRA is to have more investment options, since most 401k's are limited in terms of investment choices.If you want to be certain about any differences in tax treatment, post your question on the Fool tax strategies board, and a tax expert will help you out.
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