We have the option at work to contribute to both, on top of our pension. I could be wrong (certainly wouldn't be the first time), but I've read that if you are younger, then the Roth 401k option is better. If you are older, then the 401k (pre-tax) is the better option. I am 41 and while I'd love to retire at 55, I have set a no later date/age than 62, which means that I am out in 21 years. I really need to sit down with someone to see where I fall realistically.
I will say this for you younger guys with the option, put what you can in and treat it like a bill. The absolute one thing that any financial "guru" will say, is pay yourself first. You don't have to max out your 401k at the age of 23 because time is on your hands, but I would seriously consider putting every raise that I got toward my retirement.
Minimize expenses now, and be reasonable in your expectations of retirement. For some, that means buying a beach house or cabin in the mountains. For myself, I need enough money to cover the taxes on my properties and gas money for my travel rig once I retire. Have an idea, set a goal, and work toward reaching it.
I will say this for you younger guys with the option, put what you can in and treat it like a bill. The absolute one thing that any financial "guru" will say, is pay yourself first. You don't have to max out your 401k at the age of 23 because time is on your hands, but I would seriously consider putting every raise that I got toward my retirement.
Minimize expenses now, and be reasonable in your expectations of retirement. For some, that means buying a beach house or cabin in the mountains. For myself, I need enough money to cover the taxes on my properties and gas money for my travel rig once I retire. Have an idea, set a goal, and work toward reaching it.
