Retirement Account by the Numbers: Part 1

Retirement Accounts Statistics

Did you know that ...

* American's have an estimated $24 Trillion in retirement assets

* The entire gross national US debt is just $18 Trillion, making the retirement market 33% larger.

* There are more than 600,000 people with $1 million in an I.R.A. account; 630,000 from the Government Accounting Office Data from 2011, so there are no doubt many more now.

* More than 300 folks have $25 million or more in their IRA's. Since contributions to IRA's are capped at rather low amounts, the majority of this money was no doubt rollovers from company-retirement plans.

* Defined Contribution Plans, sponsored by employers, total $6.6 Trillion, about a trillion dollars less than I.R.A. account values.
I will have some thoughts and ideas on your retirement accounts by week's end.