<prompt> Human: Background: I have just graduated college with an engineering degree so I am just now starting to learn about finance. I have a job lined up that starts in August and I am trying to figure out what to do with my salary I have no debt. I have a planned budget for the next year before I get yelled at. I have 2 quick questions. Q1: I cant seem to find answers to this, this is probably a dumb question and I am just looking in the wrong places. From what Ive read I am assuming I can only max out one 401k, either a Roth or a traditional at 17,500 per year am I correct on this or could I max out both?. Am I allowed to open both a Roth and a traditional IRA on my own and put the max 5,500 in each? Q2: Depending on the answers to Q1, I will have anywhere from 11,000-34,000 dollars left at the end of the year and am not sure how to invest it again I have a budget in which I am planning on putting around 10,000 in a personal savingsemergency account the first year and it over compensates for expenses. I know this is more of an rinvesting question but I am very cautious I want to invest this wisely, not throw it away. Any help would be greatly appreciated. I should have elaborated on Q2, I am looking for something that will generate a little more money than the interest rate on a short term CD at least with current interest rates would.  <response>: Personal note... I graduated engineering too, not too long ago, and with no instruction or experience with finance. Basically the same shoes as yours. Over the past couple of years, Ive gotten to the point where I can be confident in several finance topics and speak on them with authority. Other areas, though, Im still learning.Just because you dont know a lot doesnt make you dumb. Youre willing to learn, which makes you anything but dumb. In fact, it makes you more capable. There is no such thing as a stupid question. There are only stupid attitudes, and you dont possess that.Nobody teaches us this stuff. We have to learn either by active study or experience. Its a painful process either way, but you will find yourself learning fast if you stick around and do some reading here.So just FYI, dont call yourself dumb. 