With the average American worker likely to change jobs as many as 10 times in a career, you could wind up with 401(k) investments stretching from an employer in California to one in Maine, leaving you with tons of statements.

If you see yourself in my words, then you should consider rolling all the old 401(k)s into your current plan. If that's not possible, then consider rolling these assets into one IRA.

In the past, people hesitated doing this because 401(k)s had greater protection in bankruptcy proceedings than IRAs did.

Well you no longer have to fear this. The new bankruptcy law passed in 2005 no longer discriminates against retirement plans.

One caution however - if a 401(k) contains employer stock, that tax advantage might be lost by rolling shares over. So check with your tax professional.

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