When IRA's are not tax deductible

[rayray]

I found out today that traditional IRA's are not always tax deductible. Basically, if you and your spouse have company sponsored retirement accounts the tax deductible option can be phased out or eliminated altogether. Which I find to be a major blow to anyone saving the most they can for their retirement years. So, if you have a retirement plan at work the government will basically inflict penalties on your contributions to a traditional IRA. What is the diligent retirement savor to do? Your options are to max out your company sponsored retirement plans, invest in a ROTH and even a regular brokerage account would be better then a non deductible IRA.


http://www.investopedia.com/ask/answers/...return.asp

https://www.irs.gov/retirement-plans/201...an-at-work