Should I consolidate my multiple 401(k) accounts in to one account?

Short answer: Definitely do so, when you can.

Learn more: Chances are you’ll establish a variety of different 401(k)’s, over the course of your career. Rather than maintain these separate accounts, you can in many cases consolidate, or combine your various 401(k) accounts. Here’s why consolidating your employee retirement plans makes sense:

  • Less paper work and inconvenience: Maintaining one account with one firm means you’ll get only one statement every month or quarter and one annual statement at the end of each year. Also, with just one account, you’ll deal with only one firm on customer service issues.
  • Improved Investment Management: It’s much easier to maintain your desired asset allocation within one account
  • Reduces annual Fees: Consolidating your various accounts into one account can reduce or eliminate annual maintenance fees