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Planning for retirement typically means choosing the right retirement account for you. However, there are tons of different options available, and it isn’t surprising that many people look up these accounts before making a decision.
With that in mind, we dove into Google Trends to discover which retirement accounts are searched for the most. We compiled this list in a countdown style so that the most popular retirement accounts are towards the end.
Key Points from This Article
- Many people do tons of research before deciding on what retirement account to open. There are many more options than many realize!
- Of course, just because a retirement plan is popular doesn’t mean it’s the best for you. Doing your own research is important!
- Also: Take this quiz to see if you’re on track to retire (Sponsored)
Why We’re Covering This
We cover retirement a lot here at 24/7 Wall St. It’s a key part of long-term financial planning, after all! It’s only natural that we’d be interested in what retirement savings plans people tend to look for!
9. Thrift Savings Plan
This plan is exclusive to federal employees and military members. It offers low-cost index funds and tax-advantaged growth to help employees save for retirement.
8. 401(b) Plans
This plan is very similar to a 401(k) plan, but it’s designed explicitly for employees of non-profits, schools, and certain government entities.
7. Pension Plans
Pension plans are defined benefit plans provided by certain employers. However, they’re becoming less common today.
6. Health Savings Account (HSA)
While not strictly a retirement account, HSAs are frequently searched for retirement planning due to their triple tax advantage and ability to save for healthcare costs.
5. Solo 401(k)
This 401(k) is designed for self-employed individuals who don’t have employees. It allows significant contributions and has both pre- and post-tax options.
4. SEP IRA
SEP stands for “simplified employee pension” and is designed for self-employed individuals and small businesses. It has a higher contribution limit than a traditional IRA.
3. Roth 401(k)
A hybrid of 401(k) and Roth IRA benefits, offering post-tax contributions and tax-free withdrawals.
2. Roth IRA
Roth IRAs are exceptionally common. Contributions are made with after-tax dollars, and withdrawals are tax-free in retirement.
1. 401(k)
A 401(k) is easily one of the most popular retirement plans out there, but we highly recommend being able to answer these questions before investing in one. Many employers offer them and often include matching contributions. The growth is tax-deferred, meaning you don’t have to pay taxes on it until retirement.
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