Ira Account Ownership Statistics

In this post, we will explore a range of statistics related to IRA account ownership in the United States. From the number of households owning IRAs to contribution patterns and demographic trends, these figures shed light on the landscape of retirement savings in the country. Let’s dive into the numbers.

Statistic 1

"As of 2021, there are nearly 48.9 million households in the United States that own IRAs."

Statistic 2

"In 2020, 14% of all households contributed to any type of IRA."

Statistic 3

"About 33% of U.S. households owned Traditional IRAs in 2019."

Statistic 4

"An estimated 8% of households were Roth IRA-only owners in 2019."

Statistic 5

"In 2018, an estimated 43.1 million U.S. households, or 34.1%, reported owning IRAs."

Statistic 6

"Of the households that owned IRAs, 81% also had employer-sponsored retirement plan coverage in 2019."

Statistic 7

"The median Traditional IRA account balance for individuals aged 70 and over was $52,000 in 2016."

Statistic 8

"In 2020, 60% of Traditional IRA owners made withdrawals, up from 49% in 2019."

Statistic 9

"The average Roth IRA contribution in 2018 was approximately $4,200."

Statistic 10

"In 2019, Roth IRA owners were much less likely to withdraw money than Traditional IRA owners (8% compared to 25%)."

Statistic 11

"An estimated 22% of U.S. households made contributions to any type of IRA in 2019."

Statistic 12

"In 2020, 23% of Traditional IRA-owning households contributed to their IRAs."

Statistic 13

"Among U.S. households in 2020, married households were significantly more likely to own IRAs than single households (58% vs. 28%)."

Statistic 14

"More than half (54%) of IRA owners, or an estimated 26.4 million U.S. households, consulted a financial advisor in 2020."

Statistic 15

"In 2018, only 12% of households that did not own an IRA said they were likely or very likely to open an IRA within the next 12 months."

Statistic 16

"Traditional IRA assets totaled $7.5 trillion at the end of 2020, an 11% increase from the end of 2019."

Statistic 17

"In 2020, nearly 6.5 million U.S. households made contributions to traditional IRAs."

Statistic 18

"Approximately 36% of IRA owners in 2019 were under age 50."

The statistics on IRA account ownership in the United States reveal a widespread participation in retirement savings through various IRA accounts, with millions of households contributing to both Traditional and Roth IRAs. The data highlights a trend of increased engagement with retirement savings vehicles, as demonstrated by growing participation rates and account balances. The statistics also showcase differences in withdrawal behaviors between Traditional and Roth IRA owners, as well as variations in ownership based on household demographics. Overall, the findings underscore the importance of individual retirement planning and the role of financial advisors in guiding households towards secure financial futures.