Debunking common knowledge IRA

According to a recent retirement trends "by Fidelity Investments, 96% of Americans save for retirement Don't know the current status of the contribution of individual retirement account, with some guessing a minimum of $ 1000. The reality is that, for fiscal year 2005, the IRA contribution borders up to $ 4000 - $ 3000 per year in 2004. When you are aware of the facts about retirement, may result in opportunities. Today's employees will be increased costs of health care, if at retirement, and the reduction of pensions and an increase in the cost of living. La's why it ' s important to the extent possible and as soon as possible beneficiary of the charge in the accounts, like IRA. Knowing the facts can help to common myths, which some investors, the Smart-movement of savings into an IRA. * Myth No. 1: My 401 (k) savings should be rich. Almost one third of Americans in their first year's savings have not yet opened an account that their IRA 401 (k) are sufficient savings for retirement, after retirement Trends Survey. However, Fidelity believes that pensioners, about 80 percent to 100 percent of pre-retirement income to live comfortably. Using an IRA as well as work programs can help ensure that investors in their economies to continue to grow in all these provisions and in retirement. * Myth No. 2: I, for thousands of dollars, is to open an IRA. For the four non-IRA owners say poll't of initial investment required to open an IRA, the opportunity to save more for retirement plans can be daunting. But the first steps without a fixed amount is as simple as the automatic monthly payment on a simple top Fidelity IRA. * Myth No. 3: The IRA is for older people with a lot of money to win. The truth is that young investors, most of the savings in time, as it contains the time on their side. Almost two thirds of young adults have started before 30 years, after retirement Trends Survey. La's good news, for as soon as possible is one of the best ways to prepare for the future.