Should I consolidate multiple old IRAs into one account?

Consolidating scattered IRAs usually makes sense and rarely hurts. Combining several Traditional IRAs into one (and several Roth IRAs into one) simplifies tracking, reduces duplicate fees, makes rebalancing easier, and means fewer accounts to manage for required distributions later. You can roll like-into-like tax-free with a direct trustee-to-trustee transfer – no tax, no penalty, no limit on the number of transfers. Keep Traditional and Roth IRAs separate, though, since they have different tax treatment; never commingle them. One thing to weigh: if you do backdoor Roths, consolidating pre-tax IRAs can worsen the pro-rata problem, so the smarter move there is rolling pre-tax balances into a 401(k) instead. Otherwise, fewer accounts means fewer forgotten balances and a clearer picture of your retirement savings.