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Roth IRA 401(k)

Many Americans maintain both a 401(k) and an IRA, especially as they grow older, according to a new report from the Employee Benefit Research Institute.

For these employees, the combined assets are, on average, 2.5 times greater than an average 401(k) balance, and the median balance is some 3.5 times larger than the median 401(k) balance.

The study found that many individuals who had both a 401(k) plan and an IRA during the seven-year study period did not maintain both in all years even though doing so would have resulted in significantly higher balances. Some individuals closed accounts when they changed jobs, while others rolled over money to other accounts as they retired.

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