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What is the difference between a 401k, IRA and a 403b?
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The main difference between a 401k, an IRA and a 403b is the way they are funded. A 401k is typically funded by the employee’s salary before taxes, while an IRA or a 403b may be funded with pre-tax contributions from both the employer and employee. Additionally, 401ks often have higher contribution limits than IRAs or 403bs, making them more attractive for those who can afford to contribute more.