@shanewp1988 Thanks to your income you have the opportunity to do better than most, as long as you keep your expenses under control. Definitely far from too late.
That income also disqualifies you from IRA by the way. (You could contribute $6500 to a regular IRA but it wouldn't be tax deductible, and you'd pay tax on the gains again on withdrawal - very likely not worth doing.)
You could make backdoor Roth contributions though. $6500 via regular IRA (immediately transferred to Roth IRA), and another $30k+ via mega backdoor if your employer's 401k plan supports it. (The feature would be called something like in-plan after-tax 401k Roth conversion or something like that.) Those are absolutely worth doing for any retirement savings before saving anywhere else, because they completely eliminate taxes on gains. That can easily put you ahead 50% or so over a few decades.
That income also disqualifies you from IRA by the way. (You could contribute $6500 to a regular IRA but it wouldn't be tax deductible, and you'd pay tax on the gains again on withdrawal - very likely not worth doing.)
You could make backdoor Roth contributions though. $6500 via regular IRA (immediately transferred to Roth IRA), and another $30k+ via mega backdoor if your employer's 401k plan supports it. (The feature would be called something like in-plan after-tax 401k Roth conversion or something like that.) Those are absolutely worth doing for any retirement savings before saving anywhere else, because they completely eliminate taxes on gains. That can easily put you ahead 50% or so over a few decades.