TIAA-CREF found that only 18% of respondents were currently contributing to an IRA and a LIMRA found similar results.
Estimated reading time: 0 minutes, 20 seconds
Lack of Knowledge Prevents Wider Use of IRAs
Less than one out of every five respondents to two recent surveys say they haven’t contributed to an individual retirement account IRA), with a lack of understanding of the products being the most common reason for the poor utilization. So reports Financial Advisor.
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