We talked a little bit about why the 401(k) is problematic in my conversation with Helaine Olen yesterday. That conversation is also happening in other places, like at Counterparties.

I've read the snowball vs. avalanche method of paying off debt, and I figured I'd tell you about my own personal method—or at least, the one that I've used a couple of times over the last few years that has helped me tons. This method requires that you've been saving for retirement via a 401(k).

Why you need to know this: If you work for a company that provides 401(k) benefits, you should participate in the plan.

A conversation with financial journalist Helaine Olen about everything that's wrong in the personal finance industrial complex.

I don't have any retirement savings. I had precisely one opportunity to sign up for a 401(k), after I'd been working for a year at a grocery store (it was Portland), but I thought I was quitting soon, so I didn't sign up. I stayed for another year.

For 22 years old, 2 years out of college, I feel like I'm in a pretty good place.

I have a somewhat specific and possibly stupid question: I found your posts on 401(k)s and IRAs really helpful, and while you gave great advice about traditional IRA vs. Roth, I'm not sure how to choose between 401(k) and Roth IRA?