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So if we reach that magical $150K income mark and can't contribute any longer, whats stopping us from withdrawing the whole amount tax free from the Roth, placing it in a regular bank account, then using that same money to then open a traditional IRA?

For Roth IRAs, your contributions are after-tax and your withdrawals in retirement are tax-free. For non-deductible traditional IRAs, your contributions are after-tax and your withdrawals in retirement are taxed at your income rate. There is no reason to try to convert tax-free money into taxable income.

You can have more than one IRA account. Once you exceed the income limits, you can leave your Roth IRA where it is at and open a non-deductible traditional IRA.

IF
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