I'm trying to figure out a strategy for cleaning up my various accounts (all at Vanguard), both for the sake of simplicity and because I think I might move about half of my assets to Fidelity or to Schwab as I become increasingly uneasy about having a considerable pile of eggs in one (lockable) basket.
Anyway, at Vanguard I have four rollover IRAs (one each from four employers, one of which was in California). I kept them separate as I rolled them from 403(b) or 401(k) accounts because long ago I was advised to do this in order to be able to identify the state in which the income was earned. I guess back in the 70s and 80s, California was notorious about going after income taxes on retirement assets earned in California, even if the retiree no longer lived in California.
Is there any longer merit to this? Or can I make my life simpler by combining the four IRAs into one? (or maybe into two, and moving one to Fidelity/Schwab).
Thanks.
Anyway, at Vanguard I have four rollover IRAs (one each from four employers, one of which was in California). I kept them separate as I rolled them from 403(b) or 401(k) accounts because long ago I was advised to do this in order to be able to identify the state in which the income was earned. I guess back in the 70s and 80s, California was notorious about going after income taxes on retirement assets earned in California, even if the retiree no longer lived in California.
Is there any longer merit to this? Or can I make my life simpler by combining the four IRAs into one? (or maybe into two, and moving one to Fidelity/Schwab).
Thanks.