I just opened a Roth at M1 Finance last night. Would it be silly to open another under Fidelity?

How many Roth IRA / Backdoor IRA accounts do you have?

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One. Why would you want to have multiple?

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Yes it would be silly

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2 IRAs if income over $125k (single). Keep at same bank. 1 - ROTH, 1 -Traditional. Contribute to traditional & convert when maxed.

likehelpful

I would stick with one and remember the contribution limits. I assume that if you stuck with one it would prevent you from overcontributing

helpful

😬 cool thx!

Curious why op thought this would be a good thing

😲😩 lol thanks for the headsup


this is why y'all are the tax, finance, and accounting peepos.

There's so many rules to be aware of that the rest of us don't even know about.

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