No. of Recommendations: 1
Thanks in advance for your advice.

My wife and I, hardly rich, apparently now make too much to contribute to Roth IRAs. We are both covered by a retirement plan at our workplace that offers the standard fare of Fidelity and Vanguard mutual funds.

Therefore, unless I am missing something, (?) we are also ineligible for contributing to a traditional IRA on a pre-tax basis. That sucks.

We do seem to be eligible to invest in a trad IRA on a non-deduction basis... Why would I do that? It surely makes things complicated in a hurry ($X was put in before taxation; $Y has been taxed). It adds a bunch of restrictions (must draw down at age 70 1/2, etc.) with what advantage? I don't see any. What is the difference between putting that money in a trad IRA and putting it in a personal account?

Sorry to be so dense.

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