A 457 plan can be a great option, especially if you're eligible and your employer offers it. Compared to a 401(k) or an IRA, a key advantage is the lack of early withdrawal penalties before age 59½, although standard taxes still apply. However, 457 plans are typically available to government and some nonprofit employees. Contribution limits are similar to 401(k) plans, and you can contribute to both a 457 and a 401(k) if available, maximizing savings. Upon changing jobs, you can roll over funds into another retirement plan like an IRA or another employer’s plan. It's wise to review your specific plan's details, as they can vary. Have you considered what types of investments the plan offers?
