Mark Miller of the New York Times invites Rebalance Managing Director Scott Puritz onto his Retirement Revised podcast to discuss stranded 401(k)s. On the podcast, Scott reveals exactly why investors should usually rollover their 401(k) accounts (especially if there are multiple) into their rollover IRA.

Scott sums up the reasoning thusly:
“The 401k system is a relatively expensive way to invest. And if you have your funds spread out over four or five 401(k) plans, almost guaranteed, you are going to be paying considerably more than if you were to convert your 401(k) investments into a single rollover IRA. A few benefits of a rollover IRA include greater control, and the freedom to purchase best-of-breed low-cost investment funds. You can reduce your fees typically by 80 to 90%.”

Learn more about stranded 401(k)s and 401(k) rollovers in the full podcast episode.