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Source: https://community.standout.digital/user/ronald_davis

Category: Business

It is absolutely lawful for you to have more than one traditional or Roth IRA. However, the total amount contributed to the accounts should not exceed the IRS's annual limit. The current set limit for 2022 is $6000. If you do go above that limit, you'll be charged a 6% penalty on the amount you overlap. Financial advisors Los Angeles agree on having multiple Roth IRA accounts as a mode of tax diversification and a broad approach to investment.

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