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Investing Specialists

The IRA Type That No One Really Needs

For high-income investors, a backdoor Roth IRA or taxable account will trump investing in a Traditional IRA.

It's IRA season, and as usual, investment providers are pushing everyone to fund an IRA before the April 15 deadline for contributions for the 2013 tax year. Individuals whose incomes fall below the thresholds are urged to make a deductible IRA or Roth contribution. And even people whose incomes are too high to qualify for either type of contribution are often advised to contribute to a nondeductible IRA, which carries no income limits on contributions.