Saving For Retirement: Multiple Retirement Savings Accounts?

By Patricia Uceda, Spring 2015 Graduate Research Assistant

If you already have an IRA and then are offered a 401(k) by an employer, don’t be so quick to say no. While it may seem like you only need one retirement savings account, having multiple retirement savings accounts might be a very good thing.  Many 401(k) accounts have some form of employer matching provisions that help you build your retirement nest egg faster.  And, as we’ve discussed, you can take advantage of the potentially different tax treatment of, for example, a Roth and traditional retirement savings account.