With an extra $10,000, I would advise most clients to max out their retirement account contributions. Usually the best place to start is a 401(k) if the employer provides matching contributions. The match is tantamount to an instant 100% return, and it would be extremely rare to outperform this with other investments.

The next priority if a 401(k) isn't an option, would be an IRA. The choice between a Roth IRA and Traditional IRA depends on tax rates, planned spending, retirement timeline, and other factors. The extra flexibility and tax advantages provided by a Roth IRA usually make this a better choice, particularly for younger investors early in their career. But there are many cases where using a Traditional IRA can be more advantageous.