[USER]

So I am an amateur in the whole retirement realm so excuse my ignorance please( hopefully this soon changes)!

I just became eligible for a retirement plan at work. My corporation will match up to 3% in either a 401k or a Roth. I’m just very unsure on what option to do.

Should I put all my funds into the 401k and open a Roth with another brokerage? Or do both options through the company? I am also quite torn on what to pick to put my investments in. The list I am able to choose from is bonds, equities, and one money market option.

I do have some screen shots or I can copy and paste the list of available options if people think that’s worth doing. I’m currently 23 and make a bit over 60k, residing in NYS.

So I’d love some tips on the best way to diversify my portfolio and if I should try to do a little more then the company match. (Also have student loans to pay off). If some more info is needed I’ll be happy to try and supply that info.

Also thank you in advance for any tips and info!

[Frank]

At your income level/tax bracket, choose the Roth 401k and start with a basic low cost index fund that invests in the total market or S&P 500. You can add other stuff later and you do not need any more diversification than what is already inside one of those funds.

Do not use target date funds if you don’t have to.

[Angelo]

The regular 401k will save you on taxes and is usually the best choice for most people. Ideally you contribute the MAX to the 401k $22,500

If you can spare more money to save and invest, open up a ROTH IRA on your own at a place like Vanguard, Fidelity or Schwab. If possible, contribute the MAX to that ROTH IRA $6,500.00

[Author]

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