This can make your investing strategy much easier to implement because you can have all your retirement funds in one place and you can keep better track of your overall portfolio.In addition, you may be able to take advantage of lower fees if you have just one large 401(k) account rather than several smaller accounts.Indeed, some brokerage firms tack a small fee onto IRAs worth ,000 or less.Likewise, 401(k) plan sponsors often charge record-keeping fees, which can chip away at your earnings.After several job changes up the corporate ladder, you've left an impressive number of 401(k) plans in your wake.Whether you should consolidate your scattered retirement plans depends on your personal preferences as well as the benefits provided and fees charged by your previous employers' 401(k) plans.With each 401(k) plan comes extra paperwork: annual statements, beneficiary designations, and so on.
Wealthfront assumes no responsibility for the tax consequences to any investor of any transaction.
This white paper was not prepared to be used, and it cannot be used, by any investor to avoid penalties or interest.
Prospective investors should confer with their personal tax advisors regarding the tax consequences of investing with Wealthfront and engaging in these tax strategies, based on their particular circumstances.
You can consolidate multiple 401(k)s from previous employers into a single IRA account at Wealthfront. If you have an IRA account open and funded with us already, simply click the "Transfer / rollover" button on your dashboard.
If you do not have an IRA account open with us yet, during the account opening signup flow you can select This material was prepared to support the marketing of Wealthfront's investment products, as well as to explain its tax-loss harvesting strategies.The biggest incentive to keeping separate 401(k) plans is for the benefit of any employer stock you hold in that company's plan.