Do you put money in both? Max contributions in traditional 401k is 19,500. What about Roth? Is it 20,500?
Or is it combined?

You should always put money in Roth first if you are eligible since withdrawals are tax free and also it has a maximum earned income limit. As we work longer, our income tends to go up and limits our Roth IRA contribution.

Even kids under 18 that are working can contribute to Roth IRA I believe.

ga10 wrote:You should always put money in Roth first if you are eligible since withdrawals are tax free and also it has a maximum earned income limit.  As we work longer, our income tends to go up and limits our Roth IRA contribution.

Even kids under 18 that are working can contribute to Roth IRA I believe.

Can you and will you put 19,500 in traditional and 20,500 in Roth?

401K - Under 50, put $19,500 and at 50 or above, you can put extra $1,000.
Tradition, Roth IRA - max 6K

If your tax bracket is 22% then Roth 100%. If i's 24%, then no, use tradition to reduce tax. Try to estimate tax bracket that how much Traditional contribution can brag it down to 22% then the rest go to Roth

$20,500 for 2022 + $6500 ì over 50

401k tradition: $20,500
or
401k Roth: $20500
or
or 401k tradition + roth : $20500

Beside the company offers above, you can have below as well
Roth IRA : $6000 ---> do as early age as you can if you have extra cash at the end of the year

If you reach at least $10k/month at 60 to live 20 years later, then you're good. I hope, I would gain more when I reach 60 The more the better