64% of IRA Contributions Are of the Roth Variety. Here's Why You Should Choose a Roth IRA for Your Savings, Too
It's important to build up savings for retirement so you don't wind up overly reliant on Social Security once your career comes to an end. And in that regard, you have choices.
If your employer offers a 401(k) plan, you can consider contributing to it, especially if there's a match involved. But if you don't have access to a 401(k), or one with a match, then you may be better off saving in an IRA instead. IRAs commonly offer far more investment choices than 401(k)s, which could lead to not only stronger returns, but also, fewer fees.
But if you're going to save in an IRA for retirement, it definitely pays to consider putting your money into the Roth version. Fidelity reports that 64% of all IRA contributions during the fourth quarter of 2023 went into a Roth account. And here are a few reasons you should consider a Roth IRA as well.
Source Fool.com
