Consider Contributing to a Nondeductible Traditional IRA and converting to a ROTH

If you are a high income taxpayer, you may be able to get retirement funds into a ROTH IRA, where they will grow tax free, by making non-deductible contributions to a Traditional IRA account and then converting them to a ROTH IRA account. Before converting to a Roth IRA you should consult your tax and/or financial advisor regarding the pros and cons of converting, especially if you have any other traditional IRAs, SEP IRAs, or SIMPLE IRAs.