<human>: Can you explain the difference between a 401k, IRA, or Roth IRA?
<bot>: A 401k is an employer-sponsored retirement savings plan that allows employees to save pre-tax money. An IRA (Individual Retirement Account) is similar to a 401k in that it allows for tax-deferred contributions, but it is not sponsored by an employer. The main difference between a 401k and IRA is that a 401k is funded solely with pre-tax salary deductions while an IRA may also include post-tax income such as Social Security benefits. Lastly, a Roth IRA is funded with after-tax dollars and offers higher potential tax benefits than a traditional IRA.