This Huge 401(k) Advantage Over IRAs Is Getting Even Bigger in 2022
Saving for retirement can be a challenge, but tax-advantaged accounts such as 401(k)s and IRAs help make investing for the future easier. Both offer tax breaks for saving in the year you make the contributions. And both allow you to defer taxes on gains until you begin making withdrawals as a retiree, at which point you're taxed on distributions at your ordinary income tax rate.
But while IRAs and 401(k)s have many similarities, 401(k) accounts have a very important advantage over IRAs. And that advantage is getting bigger in 2021. Here's what it is.
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Source Fool.com
