Hey guys, need some help with my families current situation.
My wife just got a new job raising her income from a base of $40,000 to $45,000 with an annual 6% bonus at $2,700.
I hadn't really been looking to change my employment but I thought I might as well look around and see if anything is intriguing. I applied to one place and just received an offer that I will be accepting. This will bump my income from $50,000 base to $58,000 base with 10% annual bonus at $5,800.
To summarize, we are going from $90K gross to $111K. We have no debt outside of our mortgage which has 30 years left on a $270,000 loan (worth $350,000) in a LCOLA. We don't have a great deal in retirement but started putting away 25% of our combined income towards retirement this past year.
My questions are as follows:
1) Would you invest in a Roth 401K or a Traditional 401K if you were in this situation?
2) I have $35,000 in my Roth 401K. Should I keep the money in my new employers 401K or roll it into my Roth IRA? My Roth IRA has $6,000 in it and I max each year.
EDIT: I'm 30, wife is 28. We have one kid that's 18 months and another on the way.