I agree with Ryan, I would start out by contributing to your 401k and then into a Roth IRA if you are putting away enough. Some companies will match your 401k contributions to sweeten the pot. The one thing I would also look into are the fees in youru 401k. If it is a small plan they may have higher fee rates that you'll have to pay.
Impossible to say without knowing your income, overall financial situation (e.g. wife? kids? etc.), how much you plan to spend in retirement, etc. That being said, if you are 37 and have a low amount of savings at this point, you will want to set aside as much money as possible, starting as soon as possible. For comparison purposes, you can defer up to $18,000 of salary into a 401k in 2015. If your employer has a match, then that is extra money that would go in on top of your salary deferral. If the plan also has a profit sharing component, then that is even more money that would go in on top of the deferral and the match. Compare that to an IRA, where the contribution limit in 2015 for you would be $5,500. That being said, depending on your income, you could potentially use the 401k AND a Roth IRA. If you are able to do so, that would allow you to put away $23,500 and then possibly a match and/or profit sharing. At the end of the day, it's hard to make any suggestions about the best way to approach things, but I would definitely say that you need to devote as much of your income to savings at this point (based on what you have told us). Hope this helps some and best of luck.
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