You can have both an IRA and a 401K at the same time. Usually, you want to at least invest an amount into a 401K that allows you the maximum employer match. The maximum 401K amount is $10,500 this year I believe. Your plan may have a percentage of salary maximum that would give you a lower maximum depending on your salary.Having an IRA in addition to the 401K can allow you a broader range of investment choices for your $2,000 or $4,000 of investments, if you have a spouse. It may or may not be tax deductible depending on your income. Then you have the Roth or Traditional question. Suffice to say, start with the matching 401K and read on from there.
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