the disavantage I see is that fees decline and perks increase
as one has higher balances in a the same place.

On Oct 19, 9:30 am, "mnn" <m...[at]jb.kj.nz> wrote:

- quote -

I don't see why not. Partial rollovers are not uncommon and you can
usually have as many accounts as you please. As long as you do not
exceed the annual contribution limits and you are eligible to
contribute there should be no problem.

- quote -

Certain companies are notorious for doing just that. Edward Jones, for
example, has a bad habit of having multiple agencies in a small
demographic area and high agent turnover. As a result, each agent
calls the same set of prospects and each agent opens a new IRA if they
have a successful pitch. As a result, some less informed investors
will end up with five different accounts over five years all with one
annual contribution in them and all with the same company. Absolutely
nuts I tell ya!

On Oct 19, 7:30 am, "mnn" <m...[at]jb.kj.nz> wrote:
- quote -


You can have as many different IRA accounts as you want, so long as
you keep under the total contribution limit. However to take money
from your traditional IRA (Dreyfus) and move it to a Roth IRA is a
taxable event.

"mnn" <mnn[at]jb.kj.nz> writes:

- quote -

Yes.

--
Rich Carreiro rlc-news[at]rlcarr.com

currently, I have a roth ira with vanguard and traditional ira with dreyfus

is it possible to open another roth ira for example with schwab and take some portion
of roth money market fund money from either vanguard/dreyfus and transfer it to the
new roth ira (ie. schwab) ?

not sure if there is a rule preventing multiple places to have a roth ira if one still
keep at annual contribution limits for the combined total, ie. 3000 at vanguard and
1000 with schwab

why would I do this? it's simple really, there are some funds available where I would
like to park long-term about 1 or 2% of my total portfolio but still keep it within
the retirement account (roth ira) annual limits