When deciding between a Thrift Savings Plan (TSP) and an Individual Retirement Account (IRA), it's important to consider key differences. TSPs are exclusive to federal employees and offer low fees, employer matching, and higher contribution limits. IRAs, available to anyone with earned income, provide more investment options but lack employer contributions. Both TSP vs IRA accounts offer Roth versions, making it crucial to evaluate which best fits your retirement goals. Consulting a financial advisor can help tailor your strategy. Ultimately, balancing both accounts may maximize your retirement savings potential.