Lack of understanding hinders IRA contributions

Published Updated 3 Min Read

A lack of understanding about the benefits of having both an individual retirement account and a 401(k) or 403(b) may help explain why some Americans are not contributing or considering an IRA as part of their retirement strategy.

While some Americans are more likely to prioritize saving for a trip or a new refrigerator over setting money aside in an IRA, others say their employer-sponsored retirement plan is the first item of priority when deciding how to allocate their savings. 

Paula Gladych
Freelance writer

Paula Aven Gladych is a contributing writer based in Denver.


For reprint and licensing requests for this article, click here.


More From Employee Benefit News

Sign Up Form

Login Modal Form