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254 Don’t Make Me Say I Told You So

By consolidating, you will see all of your IRA assets in one or
two accounts. This allows you to adopt one cohesive strategy

for these funds, rather than having a piecemeal investment
strategy, with several smaller accounts.

Additionally, I’ve found that many people lose track of their
smaller IRAs, and don’t know the current rate of return. There is

a chance that your smaller IRAs are earning very little without

you even knowing it. If you consolidate retirement accounts,
you may tend to invest more decisively. Having several smaller
accounts makes each account seem less important and easier

to ignore.

Consolidating retirement accounts may make it easier to

calculate RMDs (Required Minimum Distributions) after age

70½. When you begin taking required minimum distributions
after 70½, you must base the distributions on the value of all of
your IRA accounts. If you have consolidated your IRAs, the task

of tracking and totaling them is much easier.

5. Consider using an investment advisor. There are many
studies that show that investors don’t do well when going it

alone. Most investors underperform relative to both equity and
fixed-income markets over time. Using a financial advisor may

help you do a better job managing your retirement portfolio. A
financial advisor can help you:

Chapter 6: Your Action Plan