<prompt> Human: Once I get my health insurance situation straightened out and I get my own place, Ill be able to figure out how much to budget for setting aside in a retirement fund. I already have a Roth IRA, and could just contribute as much as possible to that, but should I also consider setting up a traditional IRA so Im not paying as much in taxes this year? Could I contribute to both in one year?Thanks for any advice.  <response>: Your tax rate is pretty low, so a traditional doesnt save you all that much, and it would just defer your taxes. The Roth is probably the better option at your current income level. 