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The max for Roth's is actually $160,000 I believe. You get to contribute a percentage of the $3000 max between $150k-160k. See IRS publication 590 for details.

You can set up a spousal IRA that will grow tax deferred but no deduction...(you can set one up for both you and your wife actually)

Many don't like this strategy and there is an argument to be made for just using a long term buy and hold (LTBH) strategy in a low cost, no load mutual fund.

Personally, if your time horizon is long then I'd go for DCA'ing into the Total Vanguard Stock Market Index (VTSMX) and let that baby run...depends on your risk tolerance though so you might want to balance that out with some muni bonds to avoid the taxes...

You might also want to check if your employer offers a deferred compensation program. If your a high income type person then you probably have significant value for who you work for. Blue chips offers this as well as a number of other large firms.

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