Key Takeaways Individual retirement accounts (IRAs) have existed for over 50 years. Established as part of the 1974 Employee Retirement Income Security Act for workers without employer pensions, access was expanded to all workers in 1982 with an initial maximum annual contribution of $2,000. Baby Boomers (age 62-80 in 2026) were guinea pigs for IRAs and many saved diligently for decades. Fast forward to today. According to the Investment Company Institute, 44% of […]
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