<prompt> Human: The article said that the average IRA amount for someone who is 70 years old and older was around 220,000. This is REALLY surprising to me, because that meansif the calculators I used were correct, that they only put 500 a year into the IRA from ages 25-70, if it had an average return of 7. If an IRA is essentially a printer that lines your pockets with extra cash, why dont more people use them?  <response>: So first of all, a lot of folks just use other types of accounts. 401ks, 403bs, etc.Second, all articles Ive seen are per account. Meaning that if you have two IRAs Roth and trad, or even several of the same type for whatever reason, they dont aggregate them.Third, IRAs have only existed for 44 years since 1974. So a person who was 70 couldnt start contributing until age 26, and older people even later.Fourth, people that old have probably been withdrawing for several years, so that stat doesnt reflect their total contributionsgrowth.That said -- yeah, most people dont save enough. 