Author Topic: Investing in Online Brokers with Self-Directed IRAs  (Read 1702 times)

nebulus

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Investing in Online Brokers with Self-Directed IRAs
« on: April 14, 2016, 06:45:38 PM »
So I opened a self-directed Roth IRA in order to invest in peer-to-peer lending. I would like to utilize this IRA to also invest in stocks. I would like to use an online broker like Tdameritrade to do so, but it is not clear that these brokers allow investments (except with their own IRA accounts) of this type. Can anyone clarify if this is possible or how they did this?

Thanks

protostache

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Re: Investing in Online Brokers with Self-Directed IRAs
« Reply #1 on: April 15, 2016, 08:28:06 AM »
Why not just use their IRA product alongside your self-directed IRA? There aren't any rules about how many IRA accounts you can have.

nebulus

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Re: Investing in Online Brokers with Self-Directed IRAs
« Reply #2 on: April 15, 2016, 04:52:52 PM »
Like I said this account is a Roth (can only have 1 of this type) and I would like to make use of it for other investments.  I am not interested in increasing my holdings further in peer-to peer notes and would be wasting it not contributing to my yearly allocations to it. I could open as many traditional IRAs as I wanted, but would like to maximize the benefits a Roth provides.

protostache

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Re: Investing in Online Brokers with Self-Directed IRAs
« Reply #3 on: April 15, 2016, 05:48:01 PM »
Like I said this account is a Roth (can only have 1 of this type) and I would like to make use of it for other investments.  I am not interested in increasing my holdings further in peer-to peer notes and would be wasting it not contributing to my yearly allocations to it. I could open as many traditional IRAs as I wanted, but would like to maximize the benefits a Roth provides.

There is no limit to the number of accounts you can open (how could one roll to a different custodian if they could only open one account?) The aggregate contribution among all IRA accounts in your name, traditional or Roth, regular or self-directed, is limited to $5,500 per year currently. The IRS cares about the aggregate limit. They have no input on the breakdown between accounts.
« Last Edit: April 15, 2016, 06:15:45 PM by protostache »

nebulus

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Re: Investing in Online Brokers with Self-Directed IRAs
« Reply #4 on: April 15, 2016, 06:04:07 PM »
Thanks I'll look into this then. I was under the impression you could only have 1 roth account under your name but unlimited traditional. Hopefully this is the case!