By the time you get to retirement, it is not uncommon to have many different accounts at multiple different institutions. You may be wondering, "How do I begin the process of consolidating everything without paying a bunch in taxes or penalties?"In this episode, James covers three types of taxes you're likely to encounter when consolidating: ordinary income, capital gain, and early withdrawal penalties. He also explains strategies to sidestep these taxes and penalties and how to decode your current allocation to pinpoint your income needs.Questions answered:What is a good strategy for consolidation?How do you ensure you won't get penalized for consolidating?Timestamps:0:00 Intro1:55 The situation5:18 Capital gains8:46 Income taxes14:03 401k plans17:31 Allocation 21:21 Alternatively23:45 OutroCreate Your Custom Strategy ⬇️ Get Started Here.