Retirement planning is more important than ever with the current downturn in the economy. There are many ways to plan for retirement and sifting thought all the option can be confusing. However, the way to financial freedom and a successful retirement isn't really that complicated. The main thing to remember is that you should start saving and investing as much money as you can and as early in your life as you can, to give your money the time to grow over time. Time and sound money management are the keys to create wealth for your golden years to come. This article aims to explain the differences between a 401(k) plan and an IRA (Individual Retirement Account). These are two of the most popular retirement savings plans available that makes retirement planning easy, even for people without any financial sense. 401(k) Plan What exactly is a 401 (k) plan? A 401k plan is an employee-funded and company-sponsored retirement plan. Some companies also offer to match the employees&