Comments on: Is There a Limit on the Number of IRAs I Can Have? http://www.nodebtplan.net/2008/07/21/is-there-a-limit-on-the-number-of-iras-i-can-have/#utm_source=rss&utm_medium=rss&utm_campaign=is-there-a-limit-on-the-number-of-iras-i-can-have A personal finance blog teaching you how to live debt free and use credit wisely. Fri, 10 Feb 2012 15:18:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Dorishttp://www.nodebtplan.net/2008/07/21/is-there-a-limit-on-the-number-of-iras-i-can-have/#comment-4871 Doris Wed, 01 Oct 2008 16:55:58 +0000 http://www.nodebtplan.net/?p=315#comment-4871 MY IRA IS AT FIDELITY - IS BROKERAGE INSURANCE SECURE NOW? MY IRA IS AT FIDELITY – IS BROKERAGE INSURANCE SECURE NOW?

]]> By: Carnivals of the Week and Roundup | LivingAlmostLargehttp://www.nodebtplan.net/2008/07/21/is-there-a-limit-on-the-number-of-iras-i-can-have/#comment-2640 Carnivals of the Week and Roundup | LivingAlmostLarge Fri, 25 Jul 2008 09:02:59 +0000 http://www.nodebtplan.net/?p=315#comment-2640 [...] NoDebtPlan asks “Is there a limit on the # of IRAs I can have?” [...] [...] NoDebtPlan asks “Is there a limit on the # of IRAs I can have?” [...]

]]> By: Kevinhttp://www.nodebtplan.net/2008/07/21/is-there-a-limit-on-the-number-of-iras-i-can-have/#comment-2602 Kevin Tue, 22 Jul 2008 03:29:36 +0000 http://www.nodebtplan.net/?p=315#comment-2602 Thanks Kym! She is right, you get $250,000 per institution rather than per account. Thanks Kym! She is right, you get $250,000 per institution rather than per account.

]]> By: Kymhttp://www.nodebtplan.net/2008/07/21/is-there-a-limit-on-the-number-of-iras-i-can-have/#comment-2599 Kym Tue, 22 Jul 2008 00:41:24 +0000 http://www.nodebtplan.net/?p=315#comment-2599 Joe - you would receive the $250k insurance at each institution. So, if you had 3 accounts at 3 completely different banks with $200k each, you're fine. If you simply have 3 accounts at the same bank and that bank fails, you're only insured on the first $250k. Curiously, how is it that IRAs are insured, if they're investments and investments are not insured? I mean unless you're investing in the bank that failed, your investments should be fine, no? And if you did invest in the bank that failed...well your investment failed and that wouldn't be covered. Not really clear on this one. Joe – you would receive the $250k insurance at each institution. So, if you had 3 accounts at 3 completely different banks with $200k each, you’re fine. If you simply have 3 accounts at the same bank and that bank fails, you’re only insured on the first $250k.

Curiously, how is it that IRAs are insured, if they’re investments and investments are not insured? I mean unless you’re investing in the bank that failed, your investments should be fine, no? And if you did invest in the bank that failed…well your investment failed and that wouldn’t be covered. Not really clear on this one.

]]> By: Joe - Va Beachhttp://www.nodebtplan.net/2008/07/21/is-there-a-limit-on-the-number-of-iras-i-can-have/#comment-2596 Joe - Va Beach Mon, 21 Jul 2008 20:29:23 +0000 http://www.nodebtplan.net/?p=315#comment-2596 Does the FDIC insure EACH account up to $250,000 at the institution? Or ALL of my accounts? So, if the $600,000 at IndyMac was split out to 3 around $200k each, would they have all been insured? Someday I'll have enough in IRAs to worry about this. Does the FDIC insure EACH account up to $250,000 at the institution? Or ALL of my accounts? So, if the $600,000 at IndyMac was split out to 3 around $200k each, would they have all been insured?

Someday I’ll have enough in IRAs to worry about this.

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