Are you financially planning for retirement?

[Bailey08]

Originally Posted by CaliTerp07

It's not really a "do I do both" thing. You can contribute up to the federal limit (I think 50% of your salary or $15,500, whichever comes first) into a 401k of any kind. You can put that money in either a regular (tax-deferred) 401k, or a ROTH (post tax) 401k. It depends how much money you're expecting to be pulling in when you retire. My money is hedged on being in a higher tax bracket at retirement, so I'd rather pay the taxes now when I'm in a relatively low bracket. Hence, our money goes into ROTHs.

To clarify a bit, you can do both a 401k and a Roth (traditional or IRA). They have different limits.

I'm maxing out my allotments but all the retirement calculators tell me I need to be doing more (personal investing). Boo. Retirement is freaking expensive!