Large Money Balances

Large Money Balances - above(about 5,000 times the median...

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Large balancesWhile the average and median IRA individual balance (in 2008) were approximately $70,000 and $20,000, higher balances are not rare 6.3% of individuals had total balances of $250,000 or more (about 12.5 times the median),[16] and in rare cases, individuals own IRAs with very substantial balances, in some cases $100 million or
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Unformatted text preview: above (about 5,000 times the median individual balance).[17] This typically occurs when founders of companies place shares in their own company in an IRA, and the share value subsequently rises substantially.[17]...
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