How Many ROTH IRA Accounts Can I Have Open? Can I Have Multiple?

Short answer, yes.

I was considering just leaving this at that, but I figured I’d add a few extra lines to better seal the deal. So in writing My Edward Jones ROTH IRA account is invested in B shares – Is that good? I researched that same question because I was fed up with getting tossed in the “B” share pool, and wanted to get out, but thought (for whatever reason) that I could only have 1 ROTH IRA account open, but no, you can have 10,000,000 ROTH IRA accounts open if you’d like, as long as you don’t go over the $4,000 limit ($5,000 for those over 50) in any given tax year. However, I recommend NOT doing this because with each account, you’ll be buying into a fund for whatever amount your brokerage charges to make a trade, usually between $10 and $50, and that’s really going to eat at the principal, especially if you’re in 10,000,000 accounts.

But under my “bad investing decision #8 now I guess, it makes more sense for me to open another account up, as I won’t be paying the 1st one anymore for transactions, and will have to suck up and choose 2 or 3 stellar ones for the new ROTH…

Filed Under: 401K • advice • Investing • Mutual Funds • Net Worth • Retirement • ROTH IRA