Consolidating multiple iras

Investors typically choose an investment approach that reflects their goals, time horizon, and risk tolerance, and then allocate their assets to the investments deemed appropriate for their risk profile.

It is important that the portfolios be rebalanced periodically in order to maintain the desirable asset mix.

More than eight in 10 of those households also had employer-sponsored retirement plan assets or had defined-benefit plan coverage (i.e., pensions). According to the ICI, investors cite multiple reasons for rolling over their retirement plan assets into traditional IRAs.

Foremost among these reasons are: the desire to consolidate multiple accounts; not wanting to leave assets behind with a former employer; and the potential to gain access to more investment options. The most immediate benefit of consolidating your retirement accounts into a single IRA is that all your assets are now in one account, which offers advantages that include: Diversifying and allocating assets—It’s easier to manage a portfolio that has been streamlined.

There is a hefty 50% penalty for taking less than the annual required amount, regardless of whether it was an oversight or intentional.

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