1. Personal Finance
Retirement

2. Individual Retirement Account (IRA)
I. Types of Accounts
401(k)
Pension account where the employee contributes money to a fund which is deducted from their paycheck before taxation.
Sometimes matched by employer.
For private companies.
403 (b)s and 457s
Individual Retirement Account (IRA)
Plan set up by an individual person, usually through their bank.
Deductible from your taxable income.
Roth IRA
Similar to a standard IRA.
Contributions are not deductible from your taxable income, but withdrawals at retirement are not taxable.
Investment grow tax free.
Preferred version of individual plan.

3. I. Types of Accounts Tips:
Your money grows much more if you start saving some early than if you save more later in life.
If your employer has an 401 (k) or 403 (b) get one and put as much in as you can budget.
Employers will give you the option with 401 (k)s to invest in the company you work.
Do not invest more than % of your retirement with them. If the company goes under you can lose your job and a significant portion of your retirement.
Invest more aggressively when you’re young and switch to more stable forms of investment as you get closer to retirement.