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Rachel: My thoughts would be, at age 23, to put the first $2000 you can save, into a Roth IRA as it will grow until retirement tax free (you can not deduct the amount now - so it is after tax mone),and there would be NO tax at withdrawal. You have so many years until retirement that it could be the best thing to do. After that I would consider the 401K. Since there is not much incentive from your employer to use the 401K, I would opt for the Roth IRA. Do it before they eliminate the ROth!
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