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CHOOSING AN ACCOUNT TYPE OVERVIEW: Retirement Plans Explained 401(k), Roth IRA, and More
401(k): Watch this video, What is a 401(k)?
Traditional IRA: Watch this video, What is an IRA?
Roth IRA: Watch 0:43-4:30 of this video, Why I Love Roth IRAs!
Factor
Eligibility
Nothing about the account changes, even if you switch jobs
Eligibility may be affected by how long you work with a given
company
All employers offer this type of account
Taxes
The money you put into this retirement account has already
had taxes taken out of it
You pay taxes when you eventually take the money out
Factor
Investigate
Pension
Traditional
401(k)
Traditional Roth IRA
IRA
Pension
Traditional
401(k)
Traditional
Roth IRA
IRA
Focus