Cecily O'Connor
RedwoodAge.com

Rather than lament the stock market's extreme ebbs, retirement investors are reinforcing their savings by making sure money flows into retirement.

About 60 percent of Individual Account Retirement (IRA) investors have already made a contribution to their account for 2007, or are planning to do so before the April 15 deadline, according to a survey of 1,000 individuals by money manager Fidelity Investments. 

About 62 percent of IRA owners have taken action in the past year to better prepare for retirement, either through increasing their IRA contributions, changing their asset allocation, consolidating accounts or starting an automatic withdrawal plan. One-third of respondents also increased the amount they are contributing to their IRA over the last 12 months.

Boomers under 50 may contribute $4,000 for the 2007 tax year, while those over 50 may sock away $5,000. 

In general, IRA ownership climbs with age, from 32 percent of Americans in their 30s to 57 percent of those in their early 60s nearing retirement.

However, investors of all ages would be wise to plan more for retirement, with only 32 percent of pre-retirees in their early 60s indicating they have a detailed agenda, Fidelity found. That number decreases to roughly 20 percent for 40- and 50-year-olds and 14 percent for 30-year-olds.

By the Ages
Boomers, aged 44 to 62, vary widely in their actions and attitudes about retirement. Investors in their 40s are more likely than those in their 30s to have a rollover IRA; seek ways to minimize personal tax burden; many are still hopeful for, but not counting on, some sort of pension; and some are struggling to make ends meet financially.

Meanwhile boomers in their 50s own a traditional IRA; are generally more confident that their investments are diversified; and are more concerned today about saving for retirement than making ends meet financially.

Investors in their early 60s report the highest IRA ownership; are most likely to have spoken to and completed a plan with an advisor; have a better understanding of tax law; and are less concerned with Social Security, but very concerned about the high cost of healthcare.