<human>: I'm a little confused about the difference between a 401k and a IRA. Which one is better?
<bot>: The main difference between a 401k and an IRA is that a 401k is offered by your employer, while an IRA is an individual retirement account you can open yourself. With a 401k, you have more control over how much money you contribute each month and how it's invested, whereas with an IRA, you are limited to investing in mutual funds or ETFs. Additionally, contributions to a 401k may be tax-deductible, while those to an IRA aren't.