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Originally Posted by abowers
I'm trying to decide if I should put money into a 401k through my work, which has a matching program.
However, I just graduated from college, and I am hoping to go back to school in July to start a Master's Program.
Some people have said to start saving as early as possible, others are saying that I don't want to lock away that money when I will have more immediate expenses (i.e. some of grad school tuition, my car payment, undergrad loans). And I've also heard that I should be saving money toward a down payment on a house before I start saving for retirement.
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I was in the same boat. But I think you should do the ROTH IRA before the 401k. The tax advantages are just better at a young age. I have had a Roth for 7 years now and I just started a 401k 6 months ago. I set a limit to contribute every month and saved the rest for something. But set your priorities and stick to them. Pay off your car, it's only losing money. If you can't take out loans for grad school, then save.