Optimal Finance Daily · Tuesday, July 28, 2026
Bob Lotich advises consolidating financial accounts to simplify management. He suggests using one checking and one savings account, and rolling over old 401(k) plans into a self-directed IRA to reduce paperwork, eliminate fees, and ease management of retirement assets.
“consolidate bank accounts and retirement accounts.”
“If you have several due to having previous jobs with 401k plans, simplify your life by rolling those plans over to a self-directed IRA account.”
“Not only will this reduce paperwork, but it will also eliminate account fees and make it much easier to manage your retirement assets.”