April 21, 2014

Restaurant selection takes more time than IRA planning

American adults spend more time choosing a restaurant for a special occasion than planning their IRA investments.  Only 15% of the more than 1,000 adults surveyed allotted two or more hours to planning an IRA investment while 25% said they'd spend 2+ hours selecting a restaurant, 21% to buy a flat screen TV, and 16% report buying a tablet took up this time. The survey found a lack of understanding of IRAs is still prevalent. More than 1/3 of respondents do not understand the difference between an IRA and an employer-sponsored plan. For Gen Y, the lack of comprehension reached 45% of the sample, according to TIAA-CREF's survey https://www.tiaa-cref.org/public/about/press/about_us/releases/articles/pressrelease451.html

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