Hi All. I come seeking advice. First a little background.
Age: 31
Status: Engaged
Home: Rental
Salary: ~105k
Debt: 0 (as of 12/2020..yay)
HSA: max contr.
401k: 124k
Roth IRA: 8500
My question is regarding steps 4 and 5 in the investment order (401k and IRA).
Let's say for round numbers I have 20k to invest. I am trying to decide what would be best.
Scenario 1: Max out 401k (invest extra 500 in Roth)
Scenario 2: Max out Roth IRA and invest the remaining 14k in 401k.
Both accounts are through vanguard. The biggest difference is in the 401k I don't have access to VTSAX but I have created about the same diversification through the funds that are there. (Ratio of large cap, mid cap, small cap, international)
The reason I only mentioned Roth 401k is due to the fact that as far as I know my salary is too high to deduct traditional.
Has anyone ever been in a similar scenario or have advice? Thanks in advance!
**Disclaimer. I know a better option would be just to max out both. I'm working on that but in the meantime I'm looking for my best immediate course of action.**