@Jatindrj wrote:I started a pretty good state job in July that offers 401k(Prudential) with no match and pension at 1/2 salary after 20 years. I currently have a roth IRA that I started last year through Vanguard with about $10,500(TR 2055) in it and have contributed about $20/week into the 401k through my new job. I was wondering if I should continue to do both the 401k and IRA or if it would be better to stick with the IRA. I'm 23 and my current salary is about $45k. I expect my income to increase to $100k+ in a few years.
With no 401k match i think i would try to max out your roth ira first . Once you hit cap then you can concentrate on contributing to 401k. I am assuming with prudential there aren't many low cost options for mutual fund selections.
@Jatindrj wrote:True, a lot of their options have high expense ratios which is why I was hesitant to put a lot into it at the moment.
if i were in your position i would pick maybe fidelity or vanguard and pick one of their low cost TR funds for your roth ira and start out that way. After few years when you think you understand how its all working out then you can decide to buy some active managed funds or stocks.