Quote:
Originally Posted by indycobra
I seem to remember reading that I can have as many roths that I want as long as I stay under the limit. Vanguard seems to be pretty popular on this site and thats enough to convince me to try them out.
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Yeah, I have a slightly amusing anecdote about that too. When I started up with Scottrade, I accidentally created 3 different Roth IRA accounts! Why? Part of it was because I mis-spelled my own last name, and the other part is I accidentally double-clicked on account creation or something like that.
I felt like such an idiot.
It only took a quick phone call for the customer service rep to delete my other two erroneous accounts. On the bright side, they mailed me extra booklets in case I lose the first two....
Oh, but the point is that you are correct: You can have as many accounts as you want, but Uncle Sam will only shelter 5k total each year.
Now Vanguard... that's a whole 'nother topic right there. Yes, I will say that it's popular, but you have to want to invest in index funds to begin with. For actively managed funds, you'll want to look elsewhere.