I work at a college and have 403(b) options available in addition to a good state retirement plan. I already tax shelter my required contribution to the state retirement plan. I have been working for 20 years at various colleges but have only become vested in the retirement plan at my current place of employment due to frequent changes of jobs in my early working years(I've worked here 10 years). I can afford to contribute the maximum ($9500)to a 403(b) and have the option of investing the funds in a no-load mutual fund. Should I do it? Or should I take the portion of my salary that I'd be contributing to the 403(b), pay taxes on it, and invest it elsewhere? My employer doesn't match any portion of my 403(b) contributions. Any suggestions?