Does a 401k count as an ira

The answer to your question: “Is a 401K a traditional IRA?” is no. There is a difference between 401K and traditional IRA accounts. Traditional IRA vs. 401K While both plans provide income in retirement, each plan is administered under different rules. A 401K is a type of employer retirement account. An IRA is an individual retirement account.

401(k) vs. IRA: What’s the Difference? – Investopedia

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An IRA is a retirement account you open individually, while a 401 (k) is a retirement account you open through your employer. Both IRAs and 401 (k)s have traditional options that you fund on a pretax basis and Roth versions that are funded with after-tax dollars.

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Can I contribute to a 401k and IRA Video Answer

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