Ask The Expert: Contributions

Q:
Asked by Diana 2/8/13

Can you have more than one Roth IRA?

A:
Answered by The Editor 2/8/13
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329 out of 575 people found this useful.

Yes. Technically, your Roth IRA is an account held at some financial institution like E*Trade or Schwab. It is possible for you to have multiple Roth IRAs at multiple institutions.

Do remember that your contribution limits apply across all of the accounts. For example, in 2012, you can’t put $5,000 into an E*Trade Roth IRA as well as $5,000 into a Schwab Roth IRA. You would need to make sure your total contributions are below your annual limits.

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