I have a bit of a unique situation to which I've never found good advice. I work in a state government position that gives me access to several retirement plans. The standard (mandatory) one is a defined plan where i contribute 5% and my employer match varies year to year. The great part is the match is always above my 5%.
After that I have choices. First, I have a Roth IRA that I max out each year. I then also have both a Roth 403b and traditional 457 plan with my employer. The advantage to the 457 is that there are no early withdrawal penalties as long as you've severed employment. Given this scenario is there any reason to open taxable accounts or just continue upping the amount going to the 457?
Once the Roth is maxed, if you don't affect the employer contribution at all, absolutely go with the 457 over the 403. They're identical other than being able to access when you sever employment, like you said.
As far as taxable versus 457, can you access the 457 ANYTIME after severing employment (i.e. 10 years later), or does it have to be right away (or within a certain time frame of ending employment, say, a year, you have to access it)?