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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Those stats might not be accurate. Average 401k balance doesn’t mean total net worth.

I have a Roth IRA with only $7000 in it and another IRA with 60k. One of my 401k’s has 120k. Total net worth is in the millions. [/quote]

The you did save.  Not relevant.  Social security.  [/quote]

People these days job hop all the time so there aren’t very many people with huge 7 figure retirement accounts unless you consolidate them or stayed in the same job for 20 years [/quote]

It’s amateur hour not to roll over. Anyone who earns enough to reach 7 figures should be embarrassed [/quote]

+1. Ours have always been consolidated.  
Much better investment options that way, as well as who wants to keep track of "who is managing which 401k this year?"  [/quote]

I don't roll over and don't have trouble managing multiple 401ks. I have three and do different things with each one. It's a once yearly re-allocation (and many years I don't even re-allocate) which isn't exactly time consuming.

I like having one account that is more aggressive, one more conservative, and one where I experiment with diversification.

I also manage individual investments, an HYSA, a treasury Dept account, and have a bunch of different CDs. Again none of this is particularly hard, I actually enjoy doing it.[/quote]

We have each worked at 5 or 6 different places, so that's 10-12 different 401Ks.  Sure, I could manage it that way. But it's much simpler to have it all in one place, and that one place has lower fees and more investment options.

So yeah it's possible to do, but definately much simpler to have it all in one place.  [/quote]

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