Advice Needed--too many accounts?
Looking from some advice on the best way to possibly consolidate some of my accounts. Here is my story...
I'm retired military and have a pension that is worth about $1.5M (today's dollars, but will get COLA adjustments) if I live another 40 years or so (I'm 42 now). My wife and I both work full-time and are currently both able to max out our employee-sponsored IRAs. We have only been in that position for the last 1-2 years, so our savings/retirement accounts are not that high right now. And, they are spread out over several different types. Here's a snapshot:
My Work IRA: $25K
Wife's Work IRA: $55K
Rollover IRA (from my military IRA): $65K
Previous Work T-Rowe Price IRA (where I worked a few months): $4.5K
Roth IRA: $10K
After-Tax Mutual Fund:$13K
My goal is to hit $750K in 10 years and retire at 52 yrs old. Although I think I'm an intelligent guy, I know that I have a lot to learn about different investment strategies and probably 95% of the people on this forum know more than me...so, any advice would be appreciated.
We are currently maxing out our work IRAs and Roth IRA and will do so for the next 3 years until my wife 'retires' from her military guard job (but won't collect a pension until 60 yrs old...17 yrs later). So, I think we are doing fine with our work and Roth IRAs, but not sure what to do with the roll-over IRA I have and my previous work's IRA. Should I just combine those 2, or keep them separate?