Making the Most of Your Retirement Options

Should you always fund your 401(k) first? Is a 401(k) better than an IRA? To me, it seems an odd question -- they're two tools for the same job, best used together -- but it's a question that comes up fairly often. Usually, it's part of a larger discussion -- as someone said to me recently, "I don't like the investment options in my 401(k) plan. I feel like I should just do an IRA instead, but isn't a 401(k) better?" The answer, of course, is "yes and no." 401(k)s and other workplace savings plans usually have a lot of built-in advantages, though the devil is in the details -- and the details depend on decisions made by your employer. But no matter the details, most plans have these things going for them: They get you saving. The big obstacle to retirement savings success for many people is getting started in the first place.... [read full story]