401(k) Viewed as Best Long-Term Savings Option: Survey

July 18, 2001 (PLANSPONSOR.com) - Despite recent bad press on shrinking 401(k) balances brought on by a volatile market, most people still find them to be the best way to manage and grow retirement savings.

A recent Maritz Poll, a national telephone survey of 1,005 adults, asked respondents to name the best vehicle for long-term savings:

  • more than a quarter (27%) said 401(k) plans
  • mutual funds were listed by 15%
  • 13% said IRAs were
  • 9% said CDs
  • almost 15% listed either savings accounts, annuities, real estate or treasury bonds.

Whether the fact that 2% thought checking accounts were a good long-term savings vehicle is more troubling than the 7% who said they didn’t know, is a toss up.