Managing multiple accounts

[sirwin]

Hello all,

I don't have a lot of money, but due to job changes, etc, I find myself with 4 IRAs, my wife with two, and a brokerage acct. How does one manage appling Rule #1 across multiple accts? For example, do you trade different stocks in different accts or the same stocks in all accts. Either way, it seems like a headache to manage, but not a bad headache to have.

Thanks,

Scott

[Jenkmister]

My first question would be why you KEEP all the IRA's? Would call my brokers and inquire about doing a DIRECT ROLLOVER to combine IRA's into fewer accounts to save on fees, tracking, etc. Seems this would eliminate your problem of multiple accounts.

Second thought is that why is the number of accounts a problem, (except for fees, tracking passwords, etc)? Don't believe the Rule means you put all your money into one stock. So with four accounts, split it into at least four different stocks. Use the same technique for all investing. Maybe if you are new to this type of investing, leave three accounts alone, and only trade 1 account! Then once you prove your profit and expertise, apply the same to the other accounts. IF this account blows up, then you still have the others as 'safe' investments.

Take good care;
PDE