
09-18-2008, 03:54 PM
At a minimum, you should be maximizing your company's 401K match, but if you aren't saving in other ways, you likely want to contribute in excess of that match. Even if you are saving in other ways, 401K is one of the best savings vehicles for retirement. My financial advisors (who don't manage my 401K) told me that I should max out Roth IRA first and then 401K second and then save in other ways (e.g. have them manage the money). There are limits on both Roth IRA (you can only deposit into it if your income for the year is under a certain amount, and then you can only deposit up to $5K without any catchup contributions) and 401K (think the limit on that is 15.5K deposited by the employee).