What is one of the main differences between an ira and a 401 (k)?

One of the main differences between an IRA and a 401(k) is that 401(k)'s are usually taken out pretax and matched by your employer. 401(k)'s are working savings accounts and money is held in them as long as you are working for your employeer or you can transfer these funds to a new employer. An IRA is easier to set up and maintain because often times it is not set up stricktly through the employer.

A 401(k) plan is offered by an employer and an IRA is usually offered by a bank or investment company

Explanation: This is what I got on Apex and it worked

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