The No-Brainer Retirement Account I'd Choose Way Before a 401(k)
Financial planning and saving for retirement might not be the easiest tasks, but one of the best things you can do to help yourself along the way is to take advantage of available retirement accounts. It's not often that Uncle Sam and the IRS hand out gifts, but retirement accounts happen to be one occasion.
When it comes to retirement accounts, a 401(k) is the most popular option. Among working-age people (ages 15 to 64), over 34% had a 401(k) or a similar account, according to a 2021 survey by the Census Bureau. Its popularity is even more noteworthy when you consider how many people don't work jobs that offer a 401(k) in their teens or early 20s.
But despite its popularity, a 401(k) wouldn't be my go-to retirement account. I'd choose an IRA because of its flexibility.
Source Fool.com
