Managing Multiple Investment Accounts Successfully

$600,000 in RSUs. 7 different retirement accounts. 5 major financial goals. 1 overwhelmed healthcare professional. A husband I'm working with in his early 40s didn't need another "stock market outlook" He needed financial organization. Despite being highly analytical in his career, his personal finances had become scattered: → RSUs vesting on different schedules with no clear strategy → Retirement accounts from current and previous employers sitting untouched → Multiple bank accounts with no clear purpose → Important financial goals with no concrete funding plan The cost of this disorganization? Time with family. Lost growth on his money. Decision fatigue. So he finally decided to take a methodical approach: 1) Created a complete inventory of his financial assets 2) Built a vesting calendar showing future RSU events 3) Consolidated accounts while maintaining tax efficiency 4) Mapped each financial goal to specific funding sources The most valuable outcome wasn't a hot stock tip or clever tax strategy. It was giving him back the mental bandwidth that financial disorganization was consuming. The most underrated financial skill isn't investing. It's organization.

Five 401ks at different companies? Here's why it doesn't make sense and how to make the most of your situation. I met with someone a while back who had accounts all over the place including five 401ks. It's crazy how we can accumulate hassle as we change jobs and grow in our lives. As we grow it's important to reduce time waste and added unnecessary complexity. Five 401ks alone adds: -Time waste tracking 5 accounts -Most likely tons of funds without a clear goal. -A ton of overlap in positions in other cases. -Fees could be higher than necessary if you aren't keeping track. -You may be in terrible funds themselves. -You might forget about how much money you have that can serve your goals. -There is no diversification benefit to multiple accounts like this. As long as your current plan is has good funds and a good match might make sense just to roll everything into 1 account with a combined mission to compliment your plan. Option #1 - How to go about this process: -Call the 401k company you wish to bring funds into and ask what they need from you. -Then reach out to the other companies and ask what they need. -Usually its a few pages you'd need to fill out and sign - doesn't take long. -Then a check will be issued for each 401k. -Make sure you deposit these checks within 60 days otherwise the IRS will treat these as distributions (income) and you could end up paying taxes and penalties on them. Option #2 - Rollover IRA -You can manage this yourself or work with an advisor. -Have more control over investments. -Many of the same benefits apply here as they do with the 401k option -Just pick the option that makes the most sense for you. There are also considerations for back door Roth strategies and the pro rata rule but that will have to be in another post. ---- Hi I'm Evan, I'm a Financial Advisor and I have a wife, two kids and a puppy 👨👨👧👦 🐶 I create financial plans to prepare you for the future while enjoying today.

"I'm tired of juggling all these accounts," my friend said, slumping into the chair. He had a folder thick with statements from different banks and investment firms. All he wanted was simplicity and efficiency, but instead, he faced a tangled mess. I could see the frustration in his eyes. So, we got to work. First, we made a list of all his accounts, from the 401(k) at his old job to the accounts he barely remembered opening. Then, we assessed each one how they fit into his overall financial picture. It was time-consuming but necessary. → We identified underperforming investments. → We consolidated redundant accounts. → We streamlined everything into a cohesive strategy. The result? He went from having a dozen different statements each month to just one. Not only did this save him time, but it also saved him money. No more missed opportunities. Just a clear, straightforward plan. And the best part? He felt in control of his finances for the first time in years. He told me, "I finally feel like I can breathe." Managing wealth doesn't have to be a hassle. It can be as simple as having the right person to guide you.

Almost everyone I’ve met has a junk drawer. While you have a use for everything in that drawer, it’s the most frustrating thing to organize. Most of my client’s financial lives look like this before we start working together. Here’s an example from a couple I recently onboarded. They had: -Seven 401(k) accounts spread across their jobs -Six Checking/Saving accounts at three different banks (BoA, Chase, Wells Fargo…) -Five Brokerage accounts across multiple brokerages (Schwab, Fidelity, Robinhood…). What we were able to do. -Consolidate the 401(k) accounts down to two retirement accounts (One IRA for each of them) -Have just one Joint checking and one Joint high-yield savings account  -Get these down to one Joint Trust account They went from 18 accounts to 5. A common misconception is that keeping accounts at multiple banks/brokerages helps with diversification. But it’s what’s in the accounts that matters most, not where it’s held. If you have a junk drawer, think about getting them organized. It’ll make your life a whole lot simpler!