Which of the following are ways you can save for retirement?

Saving for retirement is a crucial financial goal, and both contributing to a 401(k) and opening an IRA are well-established methods for building a retirement fund.

A 401(k) is an employer-sponsored retirement plan that allows employees to save a portion of their paycheck before taxes are taken out. Contributions often come with the benefit of employer matching, which can significantly increase the amount saved for retirement. Additionally, the funds in a 401(k) grow tax-deferred, meaning you won’t pay taxes on investment gains until you withdraw funds in retirement.

An IRA, or Individual Retirement Account, is another powerful tool for retirement savings that individuals can establish independently of employers. An IRA can provide tax advantages, such as tax-deductible contributions or tax-free withdrawals, depending on the type (traditional or Roth). The flexibility and tax benefits of an IRA make it a valuable option for those looking to save for retirement.

Investing in stocks is a potential strategy for growing wealth but isn't specifically categorized as a retirement saving method on its own. While investing in stocks can be done through a retirement account like a 401(k) or an IRA, standalone stock investments do not offer the same tax advantages that are available through these retirement accounts.

Overall, the combination