Should I go for 401(k) plan or 403 (b) retirement plan?

You cannot opt for 403(b) plan unless you're a public school employee or belong to a tax-exempt organization. Opt for a 401(k) plan if your employer is offering one.

I agree with Good Nelly. A 401(k) plan is offered by for-profit organizations, whereas a 403(b) plans are only provided by tax-exempt organizations like schools, hospitals, religious groups or governmental organizations.

Both 401(k) and 403(b) plans have limits on how much you can contribute to them, and the difference in cost between a 401k and a 403b will be substantial.

Check with a certified financial planner. Don't be a sucker for money. Throw in some dollars for expert advice.