Can I have more than one IRA? Can I have more than one IRA?

Can I have more than one IRA?

Contributor Contributor

Yes. You can have as many IRAs as you would like, however, please note that annual IRA contribution limits apply to all of the IRAs you own - your cumulative contributions can not exceed the annual limits set by the IRS. 
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 also elect to just put the entire $6k into just the Roth, if you are eligible.

 

For more information, please visit the IRS website.