Choosing the right retirement plan is crucial, with options including 401(k), IRA, Roth IRA, and plans for the self-employed. 401(k)s allow contributions up to $24,500 in 2026 for those under 50, with higher limits for older adults, and may include employer matches. IRAs have a $7,500 limit in 2026, with traditional IRAs offering tax-deferred growth and Roth IRAs providing tax-free withdrawals. Self-employed individuals have specialized plans allowing higher contributions.