Today, less than twenty percent of all companies in America offer their employees a traditional pension. In fact, more than 10% of American companies do not offer their employees any type of retirement plan. To make matters worse, the quality of the investment choices in many employer sponsored retirement accounts can vary wildly. This situation has left many workers, in a position where they have to plan and save for retirement on their own.
In addition, there is a growing number of people who own small businesses or are self-employed in this country. These people must plan and save for their own retirement entirely on their own. Fortunately, there are a variety of IRA accounts that have been designed for people in these situations.