How are you saving for retirement?
Using the right account(s) can help you meet your retirement goals
Although there are some key differences between IRAs and 401(k)s, either can be a valuable tool in helping you save for retirement.
Key Takeaways:
- The two most common types of retirement accounts are Individual Retirement Accounts (IRAs) and 401(k)s.
- Anyone with earned income can contribute to an IRA, while only employees with employer-sponsored accounts may invest in 401(k)s.
- A key feature of IRAs is the chance to have greater control, while a key feature of 401(k)s is the potential to receive an employer match of contributed funds.
- Your UBS Financial Advisor can help you make sure your retirement savings are on track.
- Whether you use an IRA, 401(k) or both, the key is to start saving for retirement as soon as possible so that your contributions have more time to grow.