 TITLE: How Much Should I Contribute to 401(k)? CONTENT: What to Do if You've Maxed Out Your 401(k) Plan\n-----------------------------------------------\nSo you've put the maximum amount of money in your 401(k) account for the year. Good for you! If you want to save even more for retirement, you have a few other options.\n*   **Open an IRA.** You can open an Individual Retirement Account on your own with a brokerage. An IRA is another type of tax-advantaged retirement account, and it's not connected to an employer. They come in two main types: a Roth IRA, in which you contribute post-tax income and withdraw it tax-free later, or a traditional IRA, in which you contribute pre-tax income and pay taxes when you take it out at retirement. However, keep in mind that there are income limits for opening a Roth IRA, so not everyone is eligible. Talk to an accountant to find out which tax strategy makes the most sense for you.\n*   **Make other investments****.** There's no limit to how much you can invest if you open a general brokerage account and purchase individual stocks, bonds and mutual funds. If you're not sure how to invest strategically, consider hiring an investment advisor who can help you choose investments or manage them for you. If you're a conservative investor, you could invest in CDs, which have a low but guaranteed return. While these types of investments aren't tax-advantaged in regard to retirement, they may provide more cash for retirement—and you won't have to pay penalties if you need to access the money before then. END