An eye towards investments
Savings accounts have seen a small decline in 2021 countered by a small increase in educational savings programs . These results are consistent with survey responses that indicated an increased concern about the ability to afford education considering economic changes .
Saving and investment product ownership , 2019-2021
Savings account ( bank or credit union ) |
2019
2020
2021
|
68 %
67 %
|
72 %
|
Employer-based retirement account ( e . g ., 401k )
2019 2020 2021
42 %
41 %
41 %
Individual retirement account ( i . e ., IRA , Roth IRA )
2019 2020 2021
35 %
36 %
39 %
Defined benefit plan ( i . e ., pension from employer or union )
2019 2020 2021
20 %
24 %
23 %
Securities ( e . g ., equities , bonds , mutual funds )
2019 2020 2021
19 %
21 %
22 %
Money market account
2019 2020 2021
21 %
21 %
21 %
Certificate of deposit ( CD )
2019 2020 2021
19 %
18 %
20 %
Educational savings account ( e . g ., 529 )
2019 2020 2021
11 %
10 %
13 %
Source : 2021 Insurance Barometer Study