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In today's busy world many individuals are not thinking about the future and starting a retirement savings account of any type. In the past a popular retirement savings that most companies offered was a 401K program, but many people are shying away from that type of savings due to the economy not being a stable market to invest their money into. A 401K program is a great way to save for your retirement especially if your company will match any part of the money that you invest, most companies ranges from between 25 and 50 percent on the dollar matching.
There is another option of a retirement savings that many individuals are using, it is called an IRA account. There are two types of IRA accounts for you to choose from, the first one is a Roth IRA and the second one is called a Standard IRA. Both types of IRA's have their advantages depending on what type of account that you are looking for. The interest rates on either IRA account is steadily growing but is still slightly smaller than ten years ago.