There is little doubt that retirement investments can be confusing. There are so many types of accounts available with all sorts of abbreviations and initials that it becomes overwhelming when you have to choose one or the other and expect it to provide you with an income when you retire. Moreover, some differences between the accounts are so minute that if you don’t work in the industry you might not even realize there is a difference at all. Such is the case with 401ks and IRAs. On the surface they are very similar and they have similar rules regarding contributions and withdrawals. However, to answer the question, “is a 401k an … [Read more...]