403(b) vs 401(k): What’s the Difference?

Let’s take a look at the difference between 403b vs 401k retirement plans. Both retirement accounts are tax-advantaged plans offered by an employer. If you are wondering which one you should choose, know that you don’t get to choose. The plans are offered depending on the status of the employer. Non-profit organizations and some government employers offer their employees 403(b) plans, while for-profit organizations offer 401(k) plans. For both plans, you can choose whether you make traditional contributions or Roth contributions. With traditional contributions, you make untaxed payments to your plan, and you pay income tax when you take withdrawals. Under a Roth plan, you make taxed contributions to your plan but pay no taxes when you retire. Both plans allow your investments to grow tax-free. <a href="https://medium.com/@GoldIRAGuide/403-b-vs-401-k-whats-the-difference-ea206514382f">Visit Now</a>