By Janet Kidd Stewart Jan how to combine multiple retirement accounts, 2015 2.00 AM Consolidating retirement money into a single account is not easy to accomplish unless you know the rules. Goodluz, iStockphoto Q. I have two accounts at one firm out of town, and a recently inherited account with another firm here in my hometown. The same applies to my husband's accounts. My daughter will inherit it all, but she lives 10 hours away in another state with a family and responsibilities of her own.
Here are seven reasons to consolidate your IRAs and other retirement accounts. This is difficult to do when you have multiple accounts.
What are the pros and cons of consolidation? Let me begin by saying that, today at least, you don't always have the option of combining retirement accounts.