Get organized with asset consolidation

Having your retirement money in one place may provide a comprehensive view of your financial picture and simplify retirement planning.

See the whole picture

Asset consolidation is just another way of saying “moving your money into one account.” If you have retirement accounts with former employers, you may want to consider rolling them into your current account. When you have multiple plans, it can be difficult to stay on top of your overall portfolio and effectively plan your investment strategy. Managing only one account lets you see your whole financial picture at once, saving you time and energy. Use this checklist  to help rank your priorities and define your goals.
  

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Get organized video

Having your retirement money in one place may provide a clear view of your financial picture and make it easier to keep your account information current.


  

Streamline your retirement planning

When retirement money is in one place, you can clearly see how investments are performing and whether you’re on the right track. If you find that your asset allocation no longer aligns with your goals, rebalancing your portfolio becomes a simpler process. Monitoring your investment diversification across multiple accounts can be cumbersome and having money in multiple accounts doesn’t necessarily mean your assets are diversified. Your diversification is determined by the types of investments in your accounts, not how many accounts you have.

Easily update your personal information

Throughout your life, you may move, marry or divorce or have children. With a single retirement plan, there’s only one account to update and one password to remember. This helps ensure that your confidential information is sent to the correct address. It also makes it easy for you to keep your beneficiary information up to date, so if something happens to you, your loved ones will not have to track down numerous accounts.

Evaluate your options

Keep in mind that asset consolidation is not your only option. You can leave your assets where they are, roll them into an IRA (separate fees may apply), take a cash withdrawal (taxes and penalties may apply), or use a combination of these options. Features available in one account may not be available in another. Thoroughly review the pros and cons of each option, as well as retirement plan costs and expenses, before rolling assets into your current plan.  

 

Talk to a retirement plan representative so you can fully understand your options and make the decision that’s right for you.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”).  This material is intended for general use with the public.  Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products and services.