One of the most important aspects of having good financialresponsibility is properly preparing for retirement. To prepare forretirement you will need to set up long term investment goals,maintain your investments wisely, and take advantage of variousretirement accounts. To of the most commonly used retirementvehicles are 401ks and IRAs. While the two accounts are bothfrequently used, there are various differences between a 401k andan IRA.The main difference between a 401k and an IRA is tax deferral. A401k is a retirement account that is made with pre-taxcontributions. These accounts, which are normally sponsored by anemployer, will take contributions directly out of a person’spaycheck before they are taxed. On the other hand, an IRA is madewith post tax contributions. While this may sound