Advantages of splitting a TIRA or Roth into multiple accounts
I know that when you convert a TIRA to a Roth it can be good idea to open multiple TIRAs and put a different asset class in each one in case an investment goes down after the conversion.
Are there any other advantages to having multiple TIRAs or Roths instead of a single larger one of each?
Permalink Submitted by Alan - IRA critic on Tue, 2017-06-20 18:50
Other possible advantages include wanting to use different custodians for various reasons, wanting each beneficiary to inherit their own IRA account, needing a self directed IRA custodian for certain assets, or for setting up a 72t plan with a desired balance or maintaining an separate account for emergency needs.