re: Questions regarding IRAs

In your specific situation I would fund a Roth. You likely are not looking at significant tax savings this year in a TIRA. People can quibble over whether target retirement funds are the best option, they are far from the worst, especially given a small sum of money. If you have an HSA option with health insurance consider funding that, too. I recently looked at my wife and my tax deferred holdings and what RMDs may look like in 16 years and it is ugly and that is with Roths, HSA, etc. Sometimes it is best to pay minimal taxes early with the Roth than much more to convert later due to income stacking/marginal tax rates.