An increasing number of savers are rejecting retirement accounts in favor of these investments

More people are stashing their money in taxable accounts and less so in employer-sponsored retirement plans.

Ownership of taxable brokerage accounts jumped 10 percentage points over the last five years, and checking, saving and CD accounts increased 9 percentage points, according to retail investor data firm Hearts & Wallets. Meanwhile, ownership rates remained the same for employer-sponsored plans like a 401(k), but consumers were contributing less — a total decline of 5 percentage points.

See:Most Americans distrust their 401(k) plan providers

Accounts with specialties, like Roth retirement plans (where money is taxed first, and then withdrawn “tax-free”) and 529 plans for higher education expenses, are also in demand, said Laura Varas, chief executive officer and founder of Hearts & Wallets.

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