My wife and I are ineligible for a Roth IRA due to our income and we are ineligible to contribute to a deductible traditional IRA. Is there value in contributing to a non-deductible IRA? Pros: 1) tax deferred growth2) Ability to eventually convert to Roth IRA once the government allows this (is this expected? are there catches?). Cons:1) it's not tax free2) I don't expect to be in a lower tax bracket after retirement (I don't buy into that argument since it basically suggests failure)3) No flexibility to use that money if a better investment arises (i.e. investment property)4) no current tax benefitsWhat are folks' thoughts on this? I've been debating it for some time now.
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