Consolidating retirement accounts
It seems that it would be easier for her if something would happen to us. Consolidating far-flung accounts can be a great relief, and not just for your daughter. You can't combine your IRA or 401k with ones in the name of your living spouse, for example.
Men with a bachelor’s degree or higher held 11.4 jobs between the ages of 18 and 46," according to a Bureau of Labor Statistics report.Women of the same educational status held 12.2 jobs during the same time span.“Clearly what we have is people entering their fifties, who have three or four accounts, plus their current employer’s one,” says David Wray, president of the Plan Sponsor Council of America, PSCA.In a rollover, however, your old company makes the check out to you.Now it's your responsibility to deposit the full amount in your new 401(k) within 60 days or the money is taxed as income and you are slapped with an early withdrawal penalty if you're younger than 55.