Please, I can’t stress this enough: DON’T RIP TO A LOSSY FORMAT. You have a a 4TB drive. It will hold about 10000 albums ripped to lossless FLAC.
Once you have ripped to a lossless format, you can transcode to your heart’s (or device’s) desire.
My ears are shot due to tinnitus, but I can tell the difference between FLAC and the highest quality, 320kbps MP3.
ps. I have 62 thousand tracks, and counting. Do you realise how long it took to rip them…? Fortunately, I chose to rip to lossless when I started. I would NOT want to do it again because I chose to throw away quality on a lossy format. Some of my friends ripped to 128kbps MP3, and sorely regret it. They can’t face the re-ripping tasks, though…