Is a 401K the same as an IRA?

Is a 401K the same as an IRA?
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1 Answer

Answer :

A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not.
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Can you recommend some things I should think about and/or investment opportunities I should consider (e.g. 401k, Roth IRA, etc) and how to decide where to start?

Description : Can you recommend some things I should think about and/or investment opportunities I should consider (e.g. 401k, Roth IRA, etc) and how to decide where to start?

Last Answer : The most important thing is just to start!

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Is there any penalty with a 401K rollover to IRA?

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Last Answer : You can avoid penalties doing a rollover, but you have to follow directions completely. There are deadlines that have to be met when requesting the procedure.

What is the difference between a 401k plan and an IRA?

Description : What is the difference between a 401k plan and an IRA?

Last Answer : They are basically the same thing but have different names. The only other difference is will be the deductibility of the 401K compared to the IRA.

Does a 401K or Roth IRA provide greater tax efficiency?

Description : Does a 401K or Roth IRA provide greater tax efficiency?

Last Answer : A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not. A Roth grows tax free, while a 401k is taxed when you withdrawl the funds.

What is the basic difference between an IRA and a 401K?

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Last Answer : When deciding were to invest your retirement money you have many options, two of those are an IRA and a 401K. A 401K is set up by the employer, where as an IRA is set up on personal preferences.

What are the implications of cashing out my 401k vs. doing an IRA rollover?

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Last Answer : You can roll over a 401k account into your IRA account. This is cost effective and relatively easy.

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Last Answer : A 401k is a retirement savings plan that is offered by most major corporations and employers. An IRA is an Individual Retirement Account that can be opened by individuals independent of their employer based retirement plans.

How do I do an IRA to 401k rollover?

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Is it a good idea to rollover from a 401k to an IRA?

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Can I roll over my 401k plan from my last employer to my IRA account?

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How much does it cost to transfer a 401k to an IRA?

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What are best IRA companies for 401k rollover?

Description : What are best IRA companies for 401k rollover?

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Last Answer : You can have the money automatically transferred from your checking or savings accounts right into your 401K to your Roth ira. Go to irs.gov for more information.

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Will my 401K automatically roll over to Roth IRA?

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Last Answer : One needs to roll their 401k to an IRA. One needs to physically authorize the removal of the 401K funds to the new location. If the IRA is at the same institution as the 401k, less paper work may be involved.

How is the 401k different from the Roth ira?

Description : How is the 401k different from the Roth ira?

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When saving for retirement, what is better, a 401k or a ROTH ira?

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Can an individual contribute to an IRA and another retirement plan at the same time?

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