<prompt> Human: I want a Roth IRA, but I have past 401k accounts Id like to consolidate and dont want to mess up my tax return and end up owing a bunch of money. Instead of picking between them, is it wise to have a traditional IRA for rolling 401ks into and a Roth IRA for investing money in each month? Any reason to not just have both?EDIT: Thank you to everyone who mentioned that traditional IRAs can complicate future usage of backdoor Roth IRAs. I would like to keep my backdoor option open, so it looks like my wisest option for now is to open a Roth IRA but skip the traditional IRA. Ill wait to rollover my old 401k accounts until I move to a job with a better 401k program.Assistant: You can have both so that you can roll a traditional 401k into the traditional IRA. You do have a 5500 max contribution total for the accounts combined in the year not counting rollovers.Human: So the contribution limit applies to a traditional IRA as well? I wasnt aware of that. Rollovers and current 401ks dont count as contributions, do they? Seems weird the government arbitrarily limits what you can save in a traditional IRA being that they get to tax it anyway when you use it.  <response>: the combined contribution of ALL IRA accounts cannot be more than 5,500. Traditional ROTH 5,501. Rollovers do not count and do not have a limit. 