The key difference between IRA and 401k is that IRA is planned by the employee, whereas, 401k is planned by the employer. IRA and 401k are two retirement plans that come under the tax law of the United States. Although both are retirement plans, they have some differences between them. In this article, we refer to the […]
Difference Between APR (Annual Percentage Rate) and Interest Rate
APR (Annual Percentage Rate) vs Interest Rate If you have extra money you can invest it in a financial institution (such as banks and credit unions), building society or government bonds. These institutions reward you (investor) by paying you interest on your investments (or savings). So, your investment will earn money for you. Conversely, when […]
Difference Between Mortgage Protection and Mortgage Insurance
Mortgage Protection vs Mortgage Insurance Even though the two terms sound similar and have similarities in the name, there is a big difference between lenders’ mortgage insurance and mortgage protection insurance. While lender’s mortgage insurance is designed to protect the bank, mortgage protection insurance protects the borrower and the home. Mortgage Protection Insurance Borrower (you) […]