03.01.24
New Study Highlights Key Role IRAs Play in Retirement Planning
by: Brian Anderson
According to a study by the Investment Company Institute (ICI), in mid-2023, 55.5 million U.S. households, or 42.2%, reported that they owned an individual retirement account (IRA), representing 36% of household financial assets among those owning them. "Our research finds that IRA-owning households report willingness to take some investment risk for financial gain,” said Sarah Holden, ICI senior director of retirement and investor research. Rollover activity has fueled recent IRA growth. In mid-2023, about 25 million US households, or 62% of US households owning traditional IRAs, had traditional IRAs that included rollover assets. Among households with rollovers in their traditional IRAs, 43% had made traditional IRA contributions in addition to their rollovers.
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