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Why you should consolidate your retirement accounts

by , 16 October 2014

Are you considering consolidating your retirement accounts but don't know why you should do it?

You can consolidate retirement accounts and transfer the money from several accounts into a single account in order to save time, energy, and stay organized and on top of your finances.

Here are a few reasons why you should consolidate your retirement accounts.
 
You pay less in fees
 
It’s a no-brainer: the more accounts you have, the more you end up paying in fees. If you want to reduce costs and save money, your best option is to consolidate accounts. You won’t be charged transaction fees for several accounts and you’ll be able to save more towards your actual retirement.
 
You stay organized and manage your retirement savings better
 
When your ccounts are scattered, it’s easy to forget to make payments or manage investments. When you consolidate your accounts, you get to stay on top of your retirement savings and choose the best investments to increase your earnings.
 
Less paperwork, more time for you
 
When you consolidate retirement accounts, you will spend less time dealing with paperwork, since you’ll have only one account to look after.
 
You can monitor your investments better
 
Having all your retirement savings in one place gives you a better perspective over your investments.
 
You can diversify your investments better
 
It’s more difficult to evaluate your assets when they are spread over multiple accounts. Consolidation makes it easier to diversify your investments according to your risk tolerance and goals.

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Why you should consolidate your retirement accounts
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