Yes. You can have as many IRAs as you want. However, you can only contribute the maximum per year collectively throughout all of your IRAs.
For example, if you are 40 years old, and are eligible to make a max IRA contribution of $6k, you might make a $3k contribution to a Traditional, and a $3k contribution to your Roth. You may elect to just put all $6k into the Roth if you are eligible.
Learn more about funding your account
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Articles in this section
- Can I take out a loan or borrow against my IRA account with iTrustCapital?
- How do I request my annual RMD from my IRA?
- What is an RMD (Required Minimum Distribution)?
- How much can I contribute to a SEP IRA?
- What is a SEP IRA?
- What is the 5-Year Rule related to Roth IRAs?
- Can my spouse and I have a joint account?
- Can I have more than one IRA?
- What is the difference between a Traditional IRA and Roth IRA?