What Mac model do you currently have..?
How much storage space are you currently using on that Mac..?
The 256GB and 512GB storage drives are small compared to most of the larger HD drives it the previous iMac models.
(if you have under 150GB on your old Mac and not adding much, then you might get by with 256GB of storage)
(if you have 250GB + on your old Mac and not adding much, then go with the 512GB storage upgrade)
(if you have 400GB + on your old Mac and adding to that, then go with the 1T storage upgrade)
The 16GB of RAM should be fine for "basic stuff, photos, documents e mail, watching videos etc"
(if you plan on adding and using any Pro App's in the future, then go with the 24GB option)