Ok, I've been reading the boards for the past couple of weeks and know I have to get going trying to get financially secure. My job offers a 403b and will contribute 7.7% as long as I contribute 3%. Is this how things normally work? I was under the impression that matching meant just that matching. If I gave 3, they gave 3. Or do I just have a half way decent employer? I can probably go as high as 6% with my contributions for now. Does this seem sufficient.

Also, I see posts about contributing to an IRA. I don't even quite understand what that is and how it differs from regular retirement. Can anyone give me a brief explanation or point me in the direction of where to start reading?

Thanks for any help.

Do these in order:
1: Put enough in your employers retirement plan to get all the free money they have to offer.
2: Pay off all consumer debt (Cars, CC's, etc)
3: Start a Roth IRA and contribute up to $4,000 in it per year.
4: Put 3-6 months worth of expenses in savings
5: Max out 403B
6: If you still have money left over pay down your mortgage.

An IRA IS retirement, it's just not part of your employers retirement program.

Ok, so I'll
1. put atleast 3% into my 403 b and employer will put in the max of 7.7%
2. I'm in BK13 and will pay it off after 36th payment next year (I have some inheritance money coming in Nov. My BK lawyer said to put it in savings and pay this off early. I plan on opening an ING account)
3. I'll see about starting a Roth IRA
4. This is completed once that inheritance is in the bank
5. I'll be working on maxing this out for a long time at this point
6. I plan on trying to make extra payments on my mortgage when I can

Thanks for the advice!