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What's the difference between an IRA and a 401k?
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An IRA is an individual retirement account, which allows you to save for retirement. A 401(k) is a type of employer-sponsored retirement plan that allows employees to save for retirement. Both types of accounts offer tax benefits and can be used to pay for college tuition or other qualified expenses. However, IRAs have higher contribution limits than 401(k)s. Additionally, 401(k)s may provide more investment options than IRAs.