Is there a benefit to having both a 401k and a Roth IRA?

@HairbrushDiva "Individual Retirement Account", a U.S. tax-deferred account.

@LamontCranston Please call it by some other name with different initials. Why on earth would anybody choose a name with those initials anyway?

@HairbrushDiva Americans don't have the same history. it doesn't have the connotations it might for you.

@LamontCranston I think they do. The actor Mickey Rourke, one of the world's most notorious IRA supporters, is American. Why would he support the IRA if the USA doesn't have that history?

@HairbrushDiva do you not have a retirement account? that terminology is fairly recognizable

@SW-User I'm only 33, I have a long way to go before I think about retiring. It's not a term I hear people discussing.

@HairbrushDiva On the contrary, the younger you start to save, and invest for your retirement, the better off you will be. Too many people wait until later in life, and they regret it.

@HairbrushDiva I’m 32 and I just learned the importance of saving early

@chrisCA @SW-User In our banks we have what we call an ISA. Isn't that a better name? It's not ambiguous or controversial.

@HairbrushDiva never heard of it!

@SW-User You've never heard of an ISA? It stands for Individual Savings Account and it doesn't have controversial initials.

@HairbrushDiva never heard anyone say it like that

@SW-User It's pronounced like "icer".

@HairbrushDiva hard to believe we are age mates XD

@SW-User It must be something to do with you being in the USA and me in the UK.

@HairbrushDiva hmm maybe