<human>:  What is the difference between a 401K and a IRA?
<bot>: The main difference between a 401K and an IRA is that a 401K is an employer-sponsored retirement plan, while an IRA, or an Individual Retirement Account, is an investment vehicle that allows you to save for retirement on your own. A 401K typically provides an employer match and is typically only accessible through an employer, while an IRA is accessible without an employer and offers more investment options. Additionally, 401Ks have higher contribution limits than an IRA.