Mutual consolidating savings

Here are the major factors you should be considering as you decide whether or not to consolidate your retirement accounts.

First and foremost, you need to be able to implement your desired investment plan.

At the end of the day, there’s often at least some level of retirement account consolidation that both makes your life easier and puts more of your money into better investments.

It’s that rare win-win that’s definitely worth exploring.

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In some cases, it may even be worth paying a little bit more in order to have all your retirement money in one, easy-to-manage account.

So before consolidating, there are two big questions you need to ask: One of the benefits of rolling old employer retirement plans into an IRA is that you have full control over your investment options and can therefore choose high-quality, low-cost funds.

But some 401(k)s offer even better and lower-cost mutual funds than you can get from an IRA or from your current employer plan, in which case you might be better off leaving that money where it is instead of consolidating.

The question of whether to consolidate your retirement accounts really comes down to balancing simplicity with optimization.

In many cases consolidating will allow you to accomplish both goals at the same time, but in others you might have to sacrifice one to support the other.

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