Save cash or max Roth IRA out first?

[Sean Rafferty]

What would you do if:

1. Just getting started in REI

2. Don't have a huge cash reserve (<$10K)

3. I don't currently have an IRA nor do I have any 401(k) funds I'm currently able to roll over

Vote simply "Cash" or "IRA" . Feel free to explain why (but not necessary)

I'm guessing just keeping it liquid and uncomplicated is best at this point. If you agree, at what point would you consider contributing to an IRA? (assuming I retain my job and can't touch my 401k, I am planning on borrowing from it for REI - I can borrow up to 50%)

[David Hurt]

Per your instructions I'll vote "Cash", but read below too.  The answer is always "it depends".

I'll second the emergency fund option first.  Get that foundation set, including paying off bad debt, and dial in spending.  Then figure out what to do with your excess cash.  Does your employer offer any kind of retirement benefit?  How long do you have before retirement?  What unique circumstance exists in your life that makes everything we've said above invalid for you?

Everyone is different...hence why none of us are giving professional advice here.  

I'd recommend picking up a copy of Set for Life by Scott Trench.  It won't give you specifics, but it is a great starting point on your financial adventure....I made that sound a little cheesy, but I'll stick with it.