IRA vs. 401(k): How to Prioritize

Having spent decades protecting families and serving my community, I know how important it is to make smart decisions that safeguard your financial future. When it comes to retirement planning, many people ask whether to prioritize contributions to an IRA or a 401(k). Here’s a practical approach I often recommend: first, contribute to your 401(k) up to the amount your employer will match—never leave that free money on the table. Next, consider maximizing an IRA, which can offer broader investment choices and potentially lower fees. After that, any additional retirement savings can go back into your 401(k). For those who earn above income limits, strategies like the backdoor Roth IRA can be valuable. Finally, deciding between a traditional or Roth account? Let your future tax expectations guide you. My goal is to help families use every available tool to create lasting security and build a legacy for the next generation.