<prompt> Human: In the past 16 months my wife and I have completely paid off all of our student debt and both earned new jobs that came with significant pay increases. Now that were in a financially healthy place, we really want to start focusing on our long term retirement plans. I am currently contributing the max amount to my 401K with employer match. Which is great. She is a teacher, however, and there is no retirement plan from her employer. Ideally we would set up a Roth IRA for her and begin contributing, but with our combined income at over 200K I believe we are not eligible. My questions then are:1. We file taxes jointly. My individual income is over the Roth IRA limit, but hers isnt. Is she still unable to create a Roth IRA, or does our joint income eliminate that option? 2. Is the next best option a traditional IRA? Or should we look into other investing options? Right now were just putting the money into savings.For reference, we are in our late 20s and were currently saving about half of our take home each month.  <response>: You dont have a lot of additional options. Your income is well over the limit for being able to deduct Traditional IRA contributions, or to make Roth contributions. You could do a backdoor Roth where you make nondeductible Traditional contributions and then convert the traditional to a Roth account, but if either of you have an existing Traditional IRA, things get a bit stickier. 