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There is a difference between IRS contribution limits and employer limits. The IRS will let you contribute $4k to an IRA this year ($5k if over 50), and $15.5k to a 401k ($20.5k if over 50), not including any employer contributions. The problem is that your employer can set lower limits on your 401k.
So, I would certainly max out your 401k, plus open up an additional Roth IRA and max it out as well. Anything over an above that, you can put into other investment vehicles that will typically outperform a 401k anyway.
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