u/cheezit789

(End of June/early July. In containers)

Can someone please explain saving and investing to me very simply? I am completely new to this. My partner and I recently started making more than we have ever dreamed, and I want to make sure we are utilizing our income effectively. Our savings goals are for our retirement as well as our children’s college/tradeschool/etc. I recently started a HYSA. It currently has $12k. I add minimum $400 to that account per month ($200 per paycheck). Household income of around $175k per year. One young child, and we will probably have one more. Our current expenses total approx $4k per month.
Would anyone be able to answer any of these questions please… what a Roth IRA is, should I start one, what do I do once I start one, are there risks associated, should I do a 529 account as well, should I do 401k with my employer…..?
Any advice would be appreciated. My partner and I both grew up in poverty and have never experienced living any way other than paycheck to paycheck.