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The general advice which I agree with is

(1) to contribute to your 401k up to get the maximum employer contribution,
(2) then contribute to a Roth IRA if eligible to its max,
(3) then continue contributing to the 401k,
(4) and then to a taxable account.


That's an excellent summary of the allocation steps, way better than what I said, that puts a would-be investor into a good position to maximize his/her capital appreciation with the least present (and maybe future) impact from taxes.

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