<human>:  What is the difference between a 401(k) and an IRA?
<bot>: The primary difference between a 401(k) and an IRA is that 401(k)s are typically sponsored by employers while an IRA, or Individual Retirement Account, is not. 401(k) plans offer pre-tax contributions and often feature an employer match, whereas IRA's offer more flexibility with the types of investments that can be made. Additionally, 401(k)s have higher contribution limits than IRAs.