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Roth IRA vs Ibond
Posted on 11/23/22 at 11:56 am
Posted on 11/23/22 at 11:56 am
I have a Roth IRA that I will contribute the maximum $6,000 before year end. I will have money left over though. Would it be smart to just open another Roth IRA in a different account or to put that money in an Ibond? Thanks.
2
Posted on 11/23/22 at 11:58 am to Tigersbr2nola
You can open as many Roth IRA accounts as you want, however as an individual you can not exceed the yearly maximum across the accounts. Since you have already contributed 6K for 2022, you can not contribute anymore to any Roth IRA.
Posted on 11/23/22 at 11:59 am to Tigersbr2nola
You can’t “just open another Roth IRA”…there is a contribution maximum annually.
You are comparing two unlike things. Roth IRA is an account type with tax code advantage in which the funds in the account are invested in assets. I bonds are inflation protected assets through the Treasury.
You are comparing two unlike things. Roth IRA is an account type with tax code advantage in which the funds in the account are invested in assets. I bonds are inflation protected assets through the Treasury.
Posted on 11/23/22 at 12:37 pm to UltimaParadox
Ohhh ok I read that wrong. You can’t exceed the yearly maximum across the accounts. I thought it was just for one account. Got it. Thanks!
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