Is traditional ira contributions the one and same as Employer sponsored 401K's?

littlemama61953 · ‎June 4, 2019

PaulaM · ‎June 4, 2019

No, these are different retirement accounts. 401ks are contributed to via payroll deductions through your employer.

A traditional IRA is an account that you would establish on your own (independent of your employer) through a bank, mutual fund, brokerage account, etc.

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View solution in original post

PaulaM · ‎June 4, 2019

No, these are different retirement accounts. 401ks are contributed to via payroll deductions through your employer.

A traditional IRA is an account that you would establish on your own (independent of your employer) through a bank, mutual fund, brokerage account, etc.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Is traditional ira contributions the one and same as Employer sponsored 401K's?