I want to open a IRA account both in Fidelity and T Rowe Price. I want invest in funds offered by each of them. But I don't want to pay the transaction fee if I have to buy the fund offered by the other. Hence having separate accounts in each to invest in the funds.
2007-03-25 13:01:39 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
We have 4 IRAs with Fidelity. 2 Roth and 2 Traditional. You can split you yearly contributions between either, or open up another Roth at another institution.
But for paper work consolidation, I'd try to keep the accounts to a minimum.
Fidelity has an excellent reporting system and it's easy when tax prep time is near.
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2007-03-25 13:39:13 · answer #1 · answered by SWH 6 · 0⤊ 0⤋
The two before said it nicely. You can only invest up to the max for your age bracket combined. So if you're under 50, you could invest up to $4000 total...maybe 2k in each. Take a look at te Dodge and Cox Interntional fund (Dodfx). It's also a phenominal no load fund that has great portfolio managers and a great outlook! :)
2007-03-25 14:10:21 · answer #2 · answered by KIDD3422 3 · 0⤊ 0⤋
With Schwab having access to many good funds for no fee not sure why you want to tie yourself to these families of funds. Have to diversify anyway +etfs better than funds for building a solid portfolio. Can do but why? neither has anything special at all.
2007-03-25 14:08:12 · answer #3 · answered by vegas_iwish 5 · 0⤊ 0⤋
You can have as many as you like. Just be sure not to put more money in them (combined) in any given year than the maximum limit for your age...
2007-03-25 13:34:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋