How many mutual funds can I contribute to?
 

I have a Roth and I know the maximum is 4k a year. I was wondering if is legal to have say both a Roth IRA and T. Rowe Price IRA. I guess what I'm asking here is can you get around the 4k limit per year? I'm really trying to avoid the whole "Day Trading" I.E Bear Stern Hedge Fund thing. BTW I'm self-employed so theres no 401k for me to partake in.

First, you can contribute $5,000 to ira's in 2008 be it a rothira , a traditional ira or some combination of the two. The most you can contribute is a total of $5,000. If your spouse is not covered by a qualified plan(ie a 401(k) you can contribute $5,000 for her as well.(income limits may apply)

SEP ira's and simple iras allow for higher contribution limits.

Also, as a self employed person, if you don't have any employees you can contribute to an idividual 401(k).
more info:
http://personal.fidelity.com/products/retirement/getstart/newacc/keogh.shtml.cvsr?refpr=sb006

see your tax advisor for specific advise.