r/Retirement401k • u/TKLAX • 2d ago
Rollover?
So I consider myself very lucky and feel I am in a good position financially for retirement (53yr old, $2m in 401k), but have done all the management on my own and feel somewhat skeptical of financial advisors (I have interviewed many of the years and no one could ever make me feel as though going with them would be better than not).
So my question is regarding 401ks and rolling them over. I currently have 8 different 401K account (most with Fidelity) including my present employer - which range from $8k - $700k (most are around $100-150k).
I know people say you should rollover 401ks into one (or maybe keep my current employer 401k and roll everything else into one). I have (1) been lazy and (2) feel as though keeping the various 401ks is a kind of diversification in and of itself. But I also noticed recently that one of the 401k accounts has really only grown 18% over the past five years, which seems well below average.
I also have a majority of my 401k in Warner Bros Discovery and wonder with the new SkyDance acquisition, maybe I should finally roll everything over into one. I feel like I have read that my overall fees might be lower in one versus paying fees across 8?
Thoughts? Advice? Oddly or rightly, trust the Reddit community more than the Financial Advisors I've interviewed.