: Designed for decades-long timelines, these accounts allow reinvested earnings to generate their own additional growth over time. Comparison: 401(k) vs. IRA Common Types of Retirement Plans and Other Ways to Save
: Most accounts offer either pre-tax contributions (reducing current taxable income) or post-tax contributions (allowing tax-free withdrawals later). account investments retirement
: Savers age 50 or older can contribute extra—an additional $8,000 for 401(k)s or $1,100 for IRAs in 2026. : Designed for decades-long timelines, these accounts allow