So You Think You Know A Lot About IRAs? | Ed Slott and Company, LLC

So You Think You Know A Lot About IRAs?

By Ian Berger, JD
IRA Analyst
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The Investment Company Institute (ICI) is an association representing mutual fund companies and similar investment companies. Recently, the ICI issued the results of a survey on traditional and Roth IRAs. The full reports are available at: ici.org/system/files/2022-07/ten-facts-iras.pdf and ici.org/system/files/2022-07/ten-facts-roth-iras.pdf.

See how well you know IRAs:
 

1. At year-end 2021, what percentage of all U.S. retirement accounts were held in IRAs?

    A.  25%

    B.  35%

    C.  45%

    D.  55%

 

2. At year-end 2021, what were the total assets held in IRAs (including traditional and Roth IRAs, SEP IRAs and SIMPLE IRAs)?

A.  $13.9 billion

B.   $50,9  billion

C.   $13.9 trillion

D.  $50.9 trillion

 

3. At year-end 2021, what percentage of total IRA assets were held in Roth IRAs?

A.  6.4%

B.   9.4%

C.   12.4%

D.  15.4%

 

4. At year-end 2021, what percentage of U.S. households held IRAs (including traditional and Roth IRAs, SEP IRAs and SIMPLE IRAs)?  

      A.  27%

      B.  37%

      C.  47%

      D.  57%

 

5. True or False? At year-end 2018, only 20% of IRA owners held Roth IRA accounts.
 

6. At year-end 2018, what was the largest category of traditional and Roth IRA investments?

      A. Bonds and bond funds

      B. Target-date funds

      C. Money market funds

      D. Stocks and stock funds

 

7. For 2017, what percentage of traditional IRA owners made an annual traditional IRA contribution?

A.  11%

B.   21%

C.   31%

D.  41%

 

8.  True or False? In 2021, 57% of traditional IRA accounts contained rollovers from employer-sponsored retirement plans.

 

9. In 2021, what percentage of traditional IRA owners consulted with a financial advisor about rolling over company plan accounts into a traditional IRA?

   A. 35%

   B.  45%

   C.  55%

   D.  65%

 

10. True or False? Roth IRA owners tend to be younger than traditional IRA owners.

 

 

 

Answers:

1.    B                                                          6. D                 

2.    C                                                          7. A

3.    B                                                          8.  True

4.    B                                                          9.  D

5.    False. The correct answer is 35%       10. True

or 39% (depending on which

data are used).

 

 

 

 

 

 


Posted in: Ian berger, IRA, IRA Quiz

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