Here are some more interesting statistics from a report by the Government Accounting Office dated Sept 16, 2014 on IRAs:
- For tax year 2011 (the most recent year available), an estimated 43 million taxpayers had IRAs with total reported FMV of $5.2 trillion.
- About 42.4 million (99 percent) of those taxpayers had aggregate IRA balances of $1 million or less, with a median accumulated IRA balance around $34,000
-Around 600,000 taxpayers had aggregate IRA balances exceeding $1 million, with a median of around $1.4 million
-an individual who achieves investment returns equal to historical interest rates reported by the Social Security trustees for special issue government bonds would accumulate a balance of $303,420. This is about $426,000 less than if the individual had invested in the S&P 500 over the same period, as shown in table 2.