After decades of job hopping—by necessity or design—some people have accumulated several retirement accounts, making it a confusing chore to keep track of what’s happening with their money.
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They may, for example, have three 401(k) accounts, a Roth IRA, and a couple of traditional IRAs.
“That’s just the way it is these days,” says Bryan Slovon, founder and CEO of Stuart Financial Group. “It’s a natural result of people changing jobs several times over their lifetime.”
But it raises a question: Is it best to leave everything as is, keeping a mishmash of accounts, or is consolidation worth considering? For anyone weighing that question, Slovon provides the factors to take into account in the full version of this article.