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
Choosing at least one retirement account to invest in it important for financial wellbeing.
- 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
Retirement is a very common subject here at 24/7 Wall St.
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
These retirement vehicles are only open to certain individuals, like those in the military.
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
Only certain government entities, like schools, have access to these 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
Pensions aren’t as common as they once were.
Pension plans are defined benefit plans provided by certain employers. However, they’re becoming less common today.
6. Health Savings Account (HSA)
HSAs can be a great way to save money for healthcare in retirement.
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 type of 401(k) is for self-employed individuals.
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
This type of pension is rare today.
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)
Roth 401(k)s aren’t as popular as a traditional 401(k).
A hybrid of 401(k) and Roth IRA benefits, offering post-tax contributions and tax-free withdrawals.
2. Roth IRA
A Roth IRA is one of the more popular retirement plans.
Roth IRAs are exceptionally common. Contributions are made with after-tax dollars, and withdrawals are tax-free in retirement.
1. 401(k)
Out of all retirement investment vehicles out there, 401(k)s are the most popular.
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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