IRA CDs: Retirement Savings Option for the Risk-Averse
In past years, retirees could expect to receive a majority of their retirement income from Social Security and pension plans, but a new generation of workers may need to rely on other sources. In fact, the majority of current workers anticipate relying on continued employment, employer-sponsored retirement plans (i.e. a 401k), IRAs and other personal savings in retirement. These options are in addition to the traditional Social Security and pension sources that over 91% and 56%, respectively, of current retirees expect to utilize in their lifetimes.