care to offer an alternative investment strategy?
sure. I wouldn't do #3.
I have always been a firm believer in saving cash. Me personally put my extra money in a bank account.
This isn't to say that I don't have any 401k or IRAs. I do, but I don't want to limit myself. Ultimately, I'll be buying 2-3 more homes in the next 15-20years. These will be (hopefully) my retirement fund.