Phillip,
I don't see the advantage to having two Roth IRAs. A couple of advantages of havings one account include less paperwork/tracking and easier asset class rebalancing. I have a client whose former advisor split her IRA into two accounts, one for stocks and the other for bonds. I never understood this since he eliminated the ease of rebalancing the two asset classes.
- Alex
I have a client who asked if she can have 2 Roth IRAs. Can she? Is there an advantage, disadvantage or other alternatives?...thank you., Phillip
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Fri, 05/14/2010
#1
Phillip,
I don't see the
Wed, 04/07/2010
#2
Roth IRA
The advantages for Roth IRA are tax free for the gains. Your contribution is after tax already. With US national debt so high, high taxes is inevitable. So having Roth IRA will protect some of your income from the tax when you retire.
Fri, 02/05/2010
#3
2 Roth IRA's
Your client can have as many Roth IRA as she wants but she will be limited to a total contribution limit of $5000 if she is under 50 years of age.
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