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Managing Your Investments Across Accounts
If you’re like most investors, you have money socked away in several different accounts and in several different financial institutions.
You and your spouse may have retirement plans through your employers, you may have purchased several IRAs over the years that sit in different investments or banks. You may keep a passbook savings or money market account at your bank with your checking, and you may have a brokerage account where you like to play the market.
There are lots of possibilities and it’s not uncommon for an investor to have money spread across 10 or 12 different accounts.
An important part of managing your financial success rests in taking a holistic view of all your investments.
It’s not uncommon to make your investment decisions one account at a time. It’s a good idea to remember to lay everything out on the table at once and see how all your accounts fit together in one portfolio picture. You may have applied an investment strategy to one or two accounts, but when you factor in others, your overall portfolio mix could be very skewed.
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