 TITLE: What Is the Difference Between a Pension and a 401(k)? CONTENT: What to Do if You Don't Have Access to a Pension or 401(k)\n----------------------------------------------------------\nIf you work for an employer that doesn't offer a pension plan or a 401(k), or you're self-employed, you may want to explore a Roth IRA.\nThe money you deposit into a Roth IRA is invested in stocks, mutual funds, exchange-traded funds (ETFs) or other vehicles. You can open a Roth IRA at a bank, credit union or investment brokerage firm.\nA Roth IRA differs from a traditional IRA in one significant way: With a Roth IRA, you don't pay taxes on money that you withdraw during retirement, but you do pay taxes on money you withdraw from a traditional IRA during retirement. As such, contributions to traditional IRAs typically qualify for federal tax deductions, but contributions to Roth IRAs do not. END