Advice Needed--too many accounts?

[HomesteadDreamer]

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
Total: ~$172K

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?

Any suggestions?

[kcowan]

Keep them separate. When you retire, consider consolidating if you want to simplify your life.

[jazz4cash]

I would look at each account and ask myself:

"Why do I own this?"
"Does this plan have good choices and low fees?"



In my own case, I have:

1. Current employer 401k for obvious reasons. Fees and fund options are good.
2. Former employer 401k because it has a unique stable value fund that I use to hold cash. Fees and fund options are good.
3. Rollover IRA that gives me access to funds and stocks not available in the 401k. Fees are reasonable, options are <almost> unlimited.
4. Rollover IRA at my credit union for CDs when rates are favorable. No fees for CDs.

Are the work accounts really IRAs? That would be unusual. If your current employer plan accepts rollovers, you could consolidate there or with one of the outside plans that has good fees.