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Is a 401k plan better than a IRA?
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A 401k plan is generally considered to be the best retirement savings option because it offers more flexibility and tax advantages than an IRA. With a 401k, you can contribute pre-tax money from your paycheck before taxes are calculated, which means you won't have to pay income tax on those contributions until you withdraw them in retirement. In addition, 401ks typically offer higher contribution limits than IRAs, so you can save more for retirement.