conversation: User (OMGBBQAOMD): "I work for company that at the end of this year will start matching my 401k by 20%. It increases that match by 20% increments for the next 5 years until it matches 100%(I've heard this is really rare for most companies). \n\nI just finished reading another thread on personal finance where it states that I should start now. I am 22 years old and I am making $45k a year. I'm attempting to save $500 a month but I'm stuck between saving in my bank account and contributing to my 401k(which would be extremely difficult to do both, as I am currently paying down my car loan $800 a month). Would contributing those $500.00 into a 401k be the best option or splitting the amount into 2 separate contributions?\n\nTo sum it up, I am still trying to figure this all out. Does having a 401k defeat the purpose of a regular savings account? How should I go about savings? In case of an emergency is the money in my 401k available to me(it would have to be a big emergency)\n\nApologies if this is all over the place, but I am realy just trying to figure it all out. Thank you for any responses!\n\nEdit: Found out by the employee handbook that it's a 60% match. 100% vested after 5 years\n"
  Self: "Have two separate accounts. \n\nOne for retirement and one for savings.\n\nNever touch retirement account. "
  