@soar2newhighs yes thats why I opened a roth IRA as well as contributing weekly to my work 401k but now idk if opening the roth IRA was even beneficial since I dont have that much income

@soar2newhighs AND how they are dropping and snoozing people are not even aware!

@SW-User If you do it right, no taxes to be paid on IRA hen you get it out.

@HairbrushDiva hard to believe we are age mates XD

@SW-User It must be something to do with you being in the USA and me in the UK.

@HairbrushDiva hmm maybe

@carpediem i dont think ill reach the limit anytime soon

@LamontCranston @SW-User If you are in a low tax bracket, a tax deduction for 401K contribution won't do much for you and you may be in a higher tax bracket years in future when you are withdrawing the funds and paying the taxes on withdrawal.
Meanwhile the Roth contribution will compound tax free and not be subject to tax when you withdraw.
The calculus may change if you are in high income (high tax) years when the current deduction will be beneficial.

@LamontCranston gotcha, i dont make much money and have both accounts, 401k I have a few thousand in there but the roth IRA I have is fairly new

@SW-User the fact that all growth in Roth plus amount invested will be tax free is the draw.

@LamontCranston If that comment is meant to be addressed to me, why have you posted it as a separate answer to a question I didn't post to start with?

@HairbrushDiva my mistake.