Now, by the time I invite someone to become a client we’ve spent hours together.

I understand what’s most important to them, we’ve worked together to create a tailored plan for their finances, and we’re developing a fantastic business friendship.

So when this great couple said, “Yes, Caleb, we’d like to move forward with you” why did I say “No”?

Because some of my advice is so crucial to my client’s success that if they’re not 100% on-board then I know I can’t in good conscience accept responsibility for their plan.

Here’s what I recommended (and why):

Consolidate your accounts to as few firms as possible.

Step one in working with me is getting organized. We’ll use the fewest number of accounts, firms, and investments possible to accomplish your goals. Its not unusual for investors to have money all over the place, but its rarely helpful.

You may have money in an old 401K at one firm, checking and savings accounts with a local bank (or two!) in Deer Park, your current 401K, two or three IRAs at different firms that you set up when going through different phases, an inherited account or annuity from your parents, and then three different apps that you’ve tried out…

That way lies madness.

Its not unusual for investors to have money all over the place, but its rarely helpful.

Last year my recommendations helped one couple in Chewelah go from ELEVEN different financial firms (with logins, statements, etc.) down to only FIVE. What a relief to be able to STOP PAYING ATTENTION and NOT feel guilty because your money is there!

You will save yourself so much time and energy by being organized so you’re ready for these key life moments:

• When you go to buy a house or start a business – can you find all your money?
• At tax time – are you sure you got all the 1099s?
• When someone dies – do the survivors even know where to look for everything?

And are there any ongoing benefits to consolidation? Sooo many….

• Easier Distributions: If you’re retired and taking money out of your accounts consolidation is a MUST. Otherwise your taxes, portfolio, and overall plan could suffer.
• Time Savings: Checking fewer accounts saves time, making it quicker to monitor and know what’s going on.
• Enhanced Financial Planning: I give my best advice when I see your entire portfolio – and I refuse to give you less than my best.
• Reduced Stress: Managing fewer accounts can reduce the stress and confusion that come with handling multiple investments.
• Enhanced Tax Planning: Every dollar has tax implications. If your advisor isn’t seeing everything then you’ve got a ticking tax time bomb on your hands.
• Possibly Lower Fees: Consolidating accounts could reduce the number of fees you pay, helping you save money.

Take a step towards organizing your financial future by consolidating your accounts. If you’d like to hear how I could be of help simply Schedule a Discovery Call to discuss your personalized financial goals

Two years ago I helped one investor consolidate FIVE old 401(k)s into ONE – and along the way we discovered money that hadn’t even been invested… meaning that by not having consolidated years before he had missed out on THOUSANDS of dollars of growth.
Don’t let that be your story.

Want to know your options? Check my Workshop Schedule and register for “What To Do With Your Old 401(k)?” the next time its available!

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