<human>: What is the difference between a 401k, IRA and a 403b?
<bot>: The main difference between a 401k, an Individual Retirement Account (IRA) and a 403(b) is the type of account. A 401k and an IRA are both retirement accounts that you can contribute to on a pre-tax basis, while a 403(b) is an employer-sponsored retirement plan. With a 401k or IRA, you have more flexibility in terms of how your contributions are invested, as well as the ability to withdraw funds without penalty before age 59 ½. With a 403(b), contributions are made with after-tax dollars, and withdrawals must be taken at least 5 years after they were initially deposited.