Maliko:"I have two jobs , at each job I contribute to a 401k and each company matches a percentage of my investment. Should I also invest in an IRA or just increase my contribution to my 401k. By the way the companies are matching to their limit, if I invest more , that portion will not be matched."Answer: IT DEPENDSConsiderations in making decision - 1. Are you eligible for a deductible traditional IRA?2. Are you eligible for a Roth IRA? 3. Are you happy with the investment choices in your 401-k?4. Which tax effect is most valuable to you, a deduction now, or tax free earnings later?5. Does the liquidity feature of a Roth (one can always take out contributions w\o tax or penalty) have value to you?Without knowing these answers, no one can tell you which way to go.
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