Part 2/5:
Caplinger points out that while there is no cap on the number of accounts, managing several can become cumbersome. Keeping track of various account balances, such as having $1,000 in one account and $500 in another, can lead to complications. Moreover, having multiple accounts may incur separate fees that can diminish your overall investment returns. Thus, while you may technically have the freedom to open numerous accounts, it is more practical to consolidate to just a few to streamline management and reduce fees.