If you are saving for retirement, the question is ‘should I contribute to a Traditional IRA or a Roth? What about my company 401K?’ Usually this is not a cut and dry solution.
If you have a 401K with a company match (say they match 50% of the first 5% of your salary you contribute), it is found money to take the match. You have just made 50% on your contribution, plus the tax deduction. After that if you feel tax rates will be higher in the future (I think this is also a no-brainer. We have the lowest rates in over 40 years now), you should contribute to the Roth IRA next. No tax deduction, but when you retire you can take all the money out tax-free. Maximum contribution is 100% of earned income up to $5,000, $6,000 if you are over fifty. If you still want to save more for retirement, go back to the 401K and have as much as you can put in that plan. No match, but you get a tax deduction. Feel free to spend what money you have left after that. (Or you could save some in an investment account. What an idea!)