Hey all, the title sums up the majority of the question but I’ll give some more detail here. I grossed $48k last year but only took home $24k due to taxes and child support. As stated my employer contributes 5% to my 401k% and I contribute an additional 7%. I have an option through my employer’s plan (Vanguard) to also contribute to a Roth IRA which I have not done yet. As you can see I don’t have an awe inspiring amount of wealth sitting around but still am very interested in saving for my future and am even considering the jump to a more traditional 10% retirement savings plan.
Of the amount I’m saving, at this point in my life and with my income, where should I be putting my retirement money? I’m sure I need to start contributing something to a Roth but I am unsure on how to split this now and moving forward. Any advice would be greatly appreciated and any additional info I can provide.