I’m a new grad and on my first job. My employer doesn’t offer matching on 401k, but we do have profit sharing that is 100% company contribution.
In the past few months, I have been putting in 10% of my income into my 401k (again, no match). Just now though, I thought of opening up a Roth IRA as per my parents/relatives/friends’ suggestion. With that said, would it be a good idea to:
1. Max out on the roth IRA, while still keeping my 401k contribution at 10%?
2. Max out on the roth IRA, lower 401k contribution to 5-ish%
3. Dont max out roth IRA, keep 401k at 10%
I think I’m in a pretty good position earning a gross of ~7k/mo, but I do have student loans, so I can’t put as much into savings/retirement. I’m also very new to all this, given this is my first job, so my apologies if the smartest choice is super obvious. Thanks!