I am 40 years old, have 95k in my 401k right now, 3k in Checking (this fluctuates monthly as I use this money to pay for rent and bills, but I never try to save money in here), and
35k in a HYSA for an emergency fund.I am currently contributing 17% ($621 per check paid bi-weekly) to my 401k and my employer matches 4% ($146 per check). In 2025 the combined contributions came out to 22k.
I plan on saving even more as I make more money. I am in sales and could potentially make an additional 30k or so this year. My question is - should I take any additional savings and
apply it to my 401k until I hit the max? Or should I consider starting a ROTH IRA? I dont really understand the difference between the two and how you decide where to put contributions
from a priority standpoint.
Would love to hear suggestions on what to do with any additional money to save this year.