Can you have more that one roth IRA account with different companies?

I already have one investment H&R Block and I'm thinking about getting another one with Sharebuilder. Would that be too much or should I just do it with one?

Just stick with one.... Having more than one is allowed. You are still subject to a max combined contribution of $5,000. But wouldn't it just be easier to have 1? They should have access to similar investments.

The Federal government has put a limit as to how much money that can be put into Roth IRA accounts a year.. As long as ya do not exceed the limit you can have 5 accounts...

You can, but why?

Here's the problem: You can only contribute a max of $5000 this year. So sure, you can put, say $2500 in the H&R Block and the other $2500 in the Sharebuilder, but you'll have to pay the custodial fees at both broker dealers. Seems like a waste.

If you just don't like H&R Block, then transfer the account. Problem is H&R Block may hit you with a transfer fee ($50-$250) for leaving.

You should be able to buy all of the same stuff at Block as you can with sharebuilder...

You can have as many accounts as you want. The annual contribution to all cannot exceed your maximum. To the IRS, your IRA accounts are considered one big account.

Tags

　　Investment Company 　　Investment Calculator 　　Investment Bank 　　Investment Advice 　　Investment Account 　　Invest Money 　　Invest in Gold 　　Invest Fund 　　Income Fund

Related information

What is an ISA or Individual Savings Account, and should i invest in one?

I guess the best explaination is that it's a form of tax-free savings account, and one of the few better ideas of this idiot Labour government. There are 2 or 3 different kinds, the sort you ...

What company provides the best HSA (Health Savings Account) banking services.?

The one good thing about Chase's product: it's one of the oldest out there in a field of new, burgeoning HSA players, and they've probably worked out a lot of the kinks. I would reco...

I have $50,000 CDN cash in my account. Earning barely 4% interest annually. Where do I invest to get more?

Swiss cash is a scam! ...

Is it illegal and or unethical for my broker to inform my father of my investment transactions?

It is illegal. If this is stockbroker you may file complaint at NASD, if futures broker - go to NFA. This is disciplinary action only and does not exclude possible legal action.

...

Can anybody tell how the interests will be calculated for the PPF account?

An investment in PPF will earn you 8% per annum. But because of the tax rebate, your actual return of 8% works out to be higher. Moreover, the returns are compounded. That means you not only earn ...

Where should I open an online investing account?

Im not going to talk for everyone else but ive had a positive experience with scottrade as my online broker. They charge $7 trades and have really good customer service. They aslo have physical loc...

How to open a Swiss bank account?

Very simple. You fly to swistzerland, show your non-swiss passport, tell them you want to open a numbered account. Once the account is open you can start transfering money (but each country has its...

I need to LIMIT my money spending habits...ive never been taught-I dont want to blow my investment money "?"

let see a penny pincher and a bubble head -- i will give the marriage about 30 seconds --- lol --- ok both of you need to set down with some one who has a lot of finanical knowledge and get you two...