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Greetings Fools!

I am a new Fool who recently discovered the wonderful world of Fooldom! Until now I followed the advice of the Wise by reading bits and pieces from any financial source I could get my hands on. I was sold on things like asset allocation and mutual funds. Little did I know about the mistakes I was making until I read things like "The 13 Steps To Investing", "401(k)Facts", "Foolish Four" and other strategies and how they beat the index over the long run. I always considered by myself not good enough to buy individual stocks. But now I am wiser and have learned to look at investing a bit differently.

Although I didn't know it, I was always a Fool at heart by living beyond my means, paying off credit cards monthly, etc. I have participated in 401(k plans at all the employers I worked for and continue to participate in a 401(k) plan at my current employer. My wife and I have ROTH IRA accounts.

Although, I was good about saving as much as I can, I was not so good at consolidating my retirement investments. When I left my two previous employers, I left the money where they were. As my family grows, I'm finding it hard to manage all the money that is scattered across different accounts. Hence, I'm looking to consolidate my accounts.

This is where I need some advice from fellow Fools. I've lurked on many of the message boards and come to respect the advice given out by Fools. Although, I have a plan in mind, I'd like to receive comments from other Fools on what strategy they would follow if this was their situation and their money.

First employer:
~$50k spread out across 4 AMEX IDS mutual funds(401k)

Second employer:
~$15k in a TIAA-CREF Growth Mutual Fund(403b)

Current employer:
~$45k spread out across 4 Fidelity Funds(401k)
Aggresive Growth, Growth & Income, Diversified International, Magellan)

My Roth IRA:
~$15k in Fidelity Contrafund

Wife's Roth IRA:
~$7k in Fidelity Growth & Income

Although, I've read a lot of the articles on the "Foolish Four" and other investment strategies, I'm still shaky on stock investments. But I am sold on the index mutual fund investment strategy. Hence, my first thought was to consolidate the first two employers money into a rollover IRA at Charles Schwab and buy into either the Vanguard S&P 500 Index fund or the S & P 500 index fund offered by Schwab. Next, I was thinking about changing the current 401k fund holdings from 4 to 2(Growth & Income & Magellan only) since they seem closest to being an index fund in terms of the the rules laid in the 401k article.

- Low management fees (below 0.75%)
- No sales charges (also known as loads or commissions)
- No 12b-1 fees
- Turnover no higher than 40% a year
- Established track record
- Consistency of return

Finally, I was thinking about transferring our IRA accounts to a Schwab also and again buy into the index funds mentioned above. The only reason, I choose not to stay with Fidelity is the transaction fees I would be charged in order to buy index funds from Vanguard through their Funds Network.

Some concerns I have:

* Is Schwab the right choice?
* If I do decide to go to a stock investment stragegy, what is the best way to get started?

I look forward to any and all comments.
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