@David265 wrote:
The same MAGI cap (~$220K) that makes my traditional IRA non tax-deductible also means I can't contribute to a Roth IRA.
You can still make contributions to a traditional IRA, you just can't deduct them. This creates a taxable basis in the account, meaning that your investment still grows tax-free, and a percentage of the withdrawals will not be taxed when you retire. (Suppose that, by the time you retire, your IRA balance is $500,000 and it contains $50,000 of non-deductible contributions--contributions you already paid tax on. Since 10% of the balance was already taxed, 10% of your withdrawals will be tax-free.)
This situation is a bit more complicated, and requires more paperwork, but you can still save for retirement. This also opens the door to a "backdoor Roth IRA", which could be the subject of a very long article by itself.
I don't love any of the online explanations, but this would get you started.
https://www.investopedia.com/retirement/should-you-contribute-nondeductible-ira/
