The best way to save for retirement depends on a few different things, says one financial planner. And if you don't have an emergency fund, you'll need to prioritize that first before focusing on your retirement savings. Retirement savings depend on compound interest to grow over time, so generally, you want to leave any funds in retirement accounts untouched until retirement age. A Roth IRA also isn't an option for everyone, since there are income limits for the people who can contribute. "Whether to invest in a Roth IRA or not will depend on your tax bracket and retirement plan at work," he said.

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