- Types:
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401-k, 401-k plan
a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself
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IRA, individual retirement account
a retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred
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Keogh plan
a tax-deferred pension plan for employees of unincorporated businesses or for self-employed persons
