matthewpacteles141 matthewpacteles141

02-06-2024
Business

Answered

In what way does a 401(k) differ from an individual retirement account (IRA)?
A 401(k) is created through an individual's employer.
A 401(k) can be created by individuals who deposit money.
OA 401(k) allows consumers to contribute before taxes.
OA 401(k) is a good long-term investment strategy.

Answer :

GinnyAnswer GinnyAnswer

02-06-2024

Final answer:

401(k) and IRA differ in creation and tax benefits.

Explanation:

401(k) and Individual Retirement Account (IRA) are both retirement savings plans, but they have key differences. A 401(k) is typically created through an individual's employer, while an IRA can be set up by individuals independently. An important distinction is that a 401(k) allows consumers to contribute before taxes, offering immediate tax benefits.

Learn more about Retirement savings plans here:

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