<prompt> Human: If I decide to contribute 20 of my income to my 401k and leave it at that, is that okay? I understand the pros to owning a IRA account and that it would benefit me to open one but I just want to keep it simple. Assistant: 20 of what though. And how much time do you have to invest? Are you young and just getting started or are you older and just now investing?Human: Not much right now - Im 23 making 49k a year so it would be 20 of that, which is roughly 600 a month.  <response>: I would say thats a hell of a start at 23. 