401(k), 403(b), 457(b), defined benefit plan, Roth IRA, pension plan... What do all of these numbers and words have in common? They refer to common retirement plans. But what are the differences between each? How do you know which plan is right for you? An easy way to understand the differences is to know that the plans that have numbers are offered by your employer, the plans without are ones that you will have to set up on your own. For employer sponsored plans, you will need to know what that plan specifically entails and how you can get the maximum benefits out of your retirement fund.
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