IRAs Outpacing Workplace Retirement Accounts
04/30/2010 0 comments
April 30, 2010 By Ruthie Ackerman FinancialPlanning.com
The majority of dollars that wealthy investors formerly allocated to workplace-based retirement accounts like 401(k)s and 403(b)s are now being poured into individual retirement accounts, according to a report by Cogent Research LL
Since 2006 IRA ownership has fallen by 5%, according to the report, while ownership of employer-sponsored retirement plans has plummeted by 23%. This marks the first time high-net worth Americans are holding a larger proportion of their assets in IRAs than in other employer-based plans, with 31% using IRAs versus 25% holding assets in employer-sponsored retirement plans.
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