Is it better to consolidate personal retirement finances into one bank/institute or different banks?
I’ve had a few jobs and now I’ve got retirement accounts in different places. Would it be better to keep all my personal finances (retirement or otherwise) in 1 or 2 financial institutions or have several different ones (should one place fold?)? No one ever covers this in all those advice columns, articles, lectures. Thanks.
Banks are insured so don’t worry about one folding unless you have over the insurance limit of $250,000. I would consolidate if my cash and CDs were below that. My stocks are in mutual funds so that’s not a worry at least as regards to who holds the certificates so I have one brokerage.
Banks are insured so don’t worry about one folding unless you have over the insurance limit of $250,000. I would consolidate if my cash and CDs were below that. My stocks are in mutual funds so that’s not a worry at least as regards to who holds the certificates so I have one brokerage.
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