What Is the Average Interest on IRAs?

Video Transcript

"Hi, my name is Bill Rae. I'm a licensed agent and I have been the finance field for well over two decades. The question is, what is the average interest in an IRA. You know, that's an excellent question. But let's clear up some confusion first. Most people think that an IRA is an investment that generates a certain amount of interest. When in reality the IRA is strictly a vehicle or an account in which depending upon which type of investments you put in, will determine what type of interest rates you will get back. So, what's the average interest rate for an IRA? It depends. What have you got in your vehicle? This of an IRA as a car and the engine as the investments. What size engine do you have in your IRS? My recommendation is seek out a good adviser. Do some research. Take the time to learn what an IRA really is. My name is Bill Rae and I'm helping you build wealth."