Consolidating ira

16-Aug-2017 23:45

I've had several instances where an individual has had several old retirement plans from previous employers.

If you consolidate accounts, over time you should have less total sales and purchases - this can help reduce transaction fees - and some companies reduce or waive fees when your account reaches a minimum size.Many Americans own two or more 401(k) or IRA accounts.If you are one of these people, consolidating your accounts may help you save time and may provide a more comprehensive view of your financial situation.The following example shows when this can and can’t be done.

Eric is 48 years old and works for a software publishing company as a computer programming manager.

He is 62 years old and is thinking of retiring from his current job.