[Chgogal]

The IRA Roth Is the way to go. But the Feds limited how much you could put aside when I was working.

[Ikeon]

Yes they do limit contributions. otoh, if youve every considered retiring Health care costs are what eats your budget up the quickest and healthcare.gov will charge you a payback if you take out too much of your 401k. because its “ taxable income” whereas your roth is not

[SamAdams76]

Another overlooked "retirement" benefit in the workplace is having an HSA (Health Savings Account). In order to qualify, you would need to select the high-deductible option on your medical plan.

Many people are afraid of that option due to the higher out-of-pocket they could pay. However, that cost is offset by lower monthly premiums and by contributions to your HSA.

Unlike the flexible spending dollars you get in a lower-deductible plan (like with a HMO), your HSA dollars do not expire each calendar year. Unused HSA dollars will carry over and you can grow them each year that you work.

In addition, HSA dollars can be invested (within the HSA plan) and so they have triple-tax benefits. You contribute the dollars pre tax; you do not get taxed on using them; and any money made on your HSA investments are also not taxed!

The catch is, HSA dollars can only be used for approved medical related expenses. Even after you retire. However, it's a nice way for those who can manage money to build a very substantial nest egg that they can use to offset out of pocket medical expenses during their retirement years.