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CFS representatives do not provide tax or legal guidance.For such guidance please consult with a qualified professional, information shown is for general illustration purposes and does not predict or depict the performance of any investment or strategy.Similarly, there are cases of employees having to wait a long time -- sometimes upwards of a year -- to get their 401(k) money after leaving a job.Call me paranoid, but when I weigh the pros and cons of consolidation, I come out in favor of spreading my money around.That doesn't mean I'd set up accounts at dozens of firms -- or that I'd bother to do this at all if I were dealing with small amounts of money.But if I had accounts totaling into the high five or six figures, I'd certainly consider holding accounts at, say, two or three different places.

In some cases, consolidating your assets can have other benefits. By moving that money into a 401(k), however, you may have the option of borrowing that money by taking out a 401(k) loan.This makes it more important than ever to keep track of your retirement savings.Having accounts in more than one place can make keeping tabs more difficult.Rolling over your balances into one account helps to ensure you can properly track and manage your savings to help you pursue your retirement goals.When it’s simpler to monitor your investments, you can make changes as needed.

And even if you're satisfied with the array of investment options, putting all your money in one place subjects does expose you to another risk.