Hello all,
Long time lurker of the forum, first time posting. I was hoping to get some advice about opening a non-deductible Traditional IRA or just continue to put money into my taxable account. My fortunate dilemma is my income is too high to qualify for any up front tax deductions on funds put into a traditional IRA and likewise am ineligible for a Roth without first doing a backdoor conversion. I currently max my 401k at $18.5k with an additional employer match of 8%.
My question is should I open a traditional IRA, throwing $5.5k a year into it for tax deferred growth or should I just continue to invest in my taxable account while continuing to max out my 401k?