Does it ever make sense to contribute to a traditional IRA if you will not qualify for the deduction?

Have you looked into setting up a Roth IRA?

This may allow you to invest money for retirement. Since a Roth IRA is taxed upfront, you cannot take the deduction at first anyway!

For more advice and info on Roth IRAs visit: http://hubpages.com/hub/roth-iras

Setting up a Traditional IRA can be both quick and painless if you meet certain requirements. Initially, an individual must have an earned income or at least receive enough money from a divorce court decree... keep reading →

Individual Retirement Accounts (IRA) are a great way to build a financial portfolio and minimize tax consequences. The tax consequences between a traditional IRA and Roth IRA can be enormous. If you do not... keep reading →