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Ways to ‘declutter’ your retirement savings this spring

Posted at 2:44 PM, Mar 19, 2018
and last updated 2018-03-19 23:35:04-04

SALT LAKE CITY - For many, the beginning of spring means it's time for a deep cleaning.

That doesn't have to mean just cleaning up around the house. Spring can also be a good time to tidy up financial accounts.

Fox 13 talked to Gary Gygi with Gygi Capitol Management for tips and tricks on how to organize and declutter retirement savings plans.

According to the U.S. Bureau of Labor Statistics, individuals born from 1957 to 1964 held an average of 11.9 jobs from ages 18 and 50.  That could mean that many people may have multiple retirement funds from different jobs.

"In many instances, it's the same type of fund held over and over and over again," Gygi said.

Gygi stated that despite the fact that it may seem like a way to diversify accounts, having multiple retirement funds may not be beneficial.

"In many instances, the fees are different in probably each individual account," Gygi said. "Sometimes the fees may be greater in certain accounts."

For more information on how to declutter your retirement savings, watch Fox 13's Max Roth speak with Gygi in the video above.