Retirement income for an individual typically comes from several sources. These sources range from employer-sponsored plans such as 401(k)s, SEPs and SIMPLEs, to social security, and personal savings. IRAs are a part of the personal savings category. While some individuals do not need to, some end up working past retirement age to supplement their income.
Contributing to an IRA provides an opportunity for individuals to increase their retirement savings and have more choices when they reach that retirement age.
hbspt.cta._relativeUrls=true;hbspt.cta.load(2032, '00d6e326-37f0-4f11-87be-518e31510ea8', {"useNewLoader":"true","region":"na1"});