A Traditional IRA uses pre-tax money, while a Roth IRA uses after-tax money.

How are contribution limits for a Roth IRA determined?

What is a pension plan?

Which type of IRA is better if you expect to be in a lower tax bracket during retirement?

What penalty applies to early withdrawals from a Traditional IRA?

At what age can you start to withdraw money from a 401(k) without penalties?

You can withdraw earnings from a Roth IRA penalty-free at any time.

What is one major advantage of contributing to a traditional 401(k)?

Pension plans guarantee a specified monthly benefit upon retirement.

Employers are legally required to keep pension funds separate from their business assets.