When saving for retirement is not for you?

Saving for 401(k) is not always the best strategy, for the following several scenarios:

• You don't have an emergency fund - you need to have about three to six months of income on hand, if not, save for this fund first!
• You have debt with high interest rate - 401(k) won't do you much good if debt is eating away your money at the same time, pay off your high interest rate debts first!

Of course, if your company offers a general 401(k) match, by all means get it first!

---