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When it comes to planning for retirement, most Americans have some basic ideas about best practices. We commonly hear advice such as max out your 401(k), don’t spend frivolously right before retirement, and consider downsizing as you enter your golden years.

A secure and satisfying retirement fund is built on two pillars. The first pillar—asset accumulation—typically gets the most attention from retirement savers, who start building that pillar as early as possible and reinforcing it regularly. The second pillar, while just as important, is often underappreciated and undervalued. In fact, many savers only realize how valuable the second pillar is after it’s too late.

Year end is a great time to make sure retirement savings strategies are optimized. Looking back at past performance and considering plans for the year ahead can reveal areas where investing must be rebalanced. This year may require more adjustments than most as the U.S. economy prepares for changes expected from the recent presidential election.

There are several reasons investors will opt for a traditional IRA in the early phases of their retirement planning. Often, they are attracted to the immediate tax savings, which free up money to spend on more immediate needs. It may also be challenging for them to grasp or appreciate the long-term benefits a Roth IRA can provide.