Can You Have Two Roth IRA Accounts?
3998 POINTSview profileMatt BenoreFounder, DenverWest Insurance Professionals, Inc.,Yes, you can have two Roth IRA accounts. In fact you can have several if you want. You can still only contribute a total of $5,500 (before age 50) or $6,500 (age 50 and over) between the accounts. You are not allowed to contribute these amounts into each account you own as defined by the IRS code.Answered on June 18, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! You can, and it's not a bad idea to have a couple of them with different investment types to fund them The only drawback is that you can only deposit a total of $5500 a year ($6500 if you are 50+) between all of them. The growth potential of all of them receiving a minimum contribution is less than the growth potential of one being funded fully. There are some good strategies that I'd suggest, if you want to contact me. Thanks for asking!Answered on June 18, 2014flag this answer
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