No. of Recommendations: 3
Author: jtr56 Date: 12/26/01 11:43 PM Number: 32925
>>Should I also invest in an IRA or just increase my contribution to my 401k.<<

Of course, if/when you can afford it, do both.

I agree. To put this another way, use the following steps:

1. First, contribute to the 401(k) to get the maximum match from your employer.

2. Next, open an IRA with a low cost mutual fund company (or brokerage) and fund it to the max.

3. Next, contribute the remaining allowed (unmatched) to the 401(k).

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