Ask the Readers: How Many Bank Accounts Do You Have?

by Jason Unger

As part of the Automatic Finances system, it’s necessary to have a number of different bank/investing accounts for your money.

In order to better save for goals, every account you have needs a name: from your main checking account to your short-term savings to your long-term investment and retirement accounts.

Sometimes, however, it’s easy to get carried away with having too many accounts. If you’re a rate chaser always looking for the best high-yield online savings account, you might have more accounts open than you need. On the investment side, perhaps you have a few old 401(k)s that you need to roll-over into an IRA to simplify your accounts.

So, I want to know: how many bank accounts do you have? Include your Roth IRAs, short-term investing accounts, 401(k)s, etc. in your total number.

Answer in a comment.

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