<prompt> Human: I was searching thru rPF and I hadnt found any examples of this being asked before so here it goes:I am a 24 year old Project Manager living in Los Angeles. I have no debt and my income is 85,000 annually. I generally save most of my money in a Bank of America checking account. I have been looking at ways to reduce my taxesmaximize investment and I was told by a few friends to max out a Vanguard Roth and traditional IRA before the end of the year 5k in each. They told me that the advantage for the traditional IRA is that its tax deductible so I will essentially receive 1,700 back from the IRS and the advantage for the Roth is that I can withdraw without penalty for my first time home purchase.I have roughly 17k in the bank right now so putting 10k in the IRAs wouldnt hurt too much. Is this a sound strategy or does it look shadyweird to the IRS if I suddenly deposit 10k right before the end of the year into the IRAs?As always, your thoughts are much appreciated.  <response>: Do not contribute to both. You can max out one or the other, not both. I think this years limit is 5k and next year is 5.5k. Go with the Roth is the conventional wisdom. 