Multiple Roth IRA’s?

Im just beginning to learn about investing into stocks. And have not read every post just yet. You mentioned in 2019 the max you could invest into a Roth IRA was $6K. Can you invest in more than one Roth IRA per year? Are we allowed to invest in multiple Roth IRA’s? I hope that question makes sense. Thanks!

Hi @Andrea_Delgado!

So, you can have multiple Roth IRAs, but you never would really want to because it doesn’t change the total allowable contribution limit ($6,000). So if you opened two Roth IRAs, you could do like $3,000 each for a total of $6K, but not $6K each as that would violate the IRS rules.

So, what you might be wondering more generally is “into which accounts do I put my money and invest to maximize my tax benefit?!”. Here’s a post that tries to answer that question :smile:

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Thanks I was able to read this reply through my email when you sent it. Very crafty! I think I’m growing to love this. As long as finances are important in my life I’m glad I met you online. Thanks

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