Consolidating Your Retirement Accounts PC1330-Digital

RETIREMENT PLANNING

RETIREMENT ACCOUNTS

“There is no instant portability or universality to 401(k)s and other workplace retirement plans,” explains Cristina Martin Firvida, director of financial security for AARP. To avoid the headache of keeping tabs on multiple accounts, consider consolidating your various retirement accounts into one individual retirement account (IRA). TOO MUCH OF A GOOD THING Having too many retirement accounts may not seem like a problem. After all, the assets in those accounts are still helping you save for retirement. But keeping an eye on multiple accounts can make it harder to know whether or not you’re on track to meet your retirement goals. “If you have several accounts, odds are you’re not paying close attention to all of them,” Martin Firvida says. “And if you’re not revisiting your retirement savings, you might find that your asset allocation no longer aligns with your current situation.” For example, say you chose a more aggressive all-stock investment portfolio when you opened your first 401(k) account at the start of your career. That same investment profile may no longer make sense for you now that you are a

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