There is some hope for higher income bracket. Normally in this case not much can be done, but because of recent legislation that everybody Will be able to convert their IRAs to ROTH IRA in 2010 regardless of their income!

So you can contribute to non-deductible Traditional IRA from today and then convert it into ROTH IRA in 2010. Of course you have to pay tax on your your earnings (not contribution which you already paid) accumulated till that time.

This is the best chance for high income earner to get into ROTH IRA in 2010!

Risk: If congress changes the law related to this again, you have to reanalyze the situation.

Log on to Fidelity and talk to a rep...get the info on a brokerage account....invest in mainly " dividend paying" stocks, Reits, trusts.... and tax free municipal bonds....
Your returns won't be 13-15%, more in the neighborhood of 8-11%. ( Better than cd's or the bank)
You will still end up with some " taxable" income, but paying taxes means you are making money....that's a good thing, right?
Fidelity usually doesn't har-sell, so give it a shot ...at least request pertinent info you can read any old time.