At this point, I do not have any IRAs. Whenever I have left jobs in the past, I took the distribution from my 401k (unfortunate but needed). Now that I am in a much better position, I am able to start contributing to an IRA in 2022. My income is above the level for tax deductability for traditional, and within a few years, above the level to be eligible to contribute directly to Roth. My salary is $115k, and my next promotion (expected sometime next year hopefully), should put me around $140k. My MAGI will still be under at that level, but don't think it'll be for more than a few years.
What I was planning to do: starting in 2022, contribute directly to a Roth. I believe I will be able to max it out or close. Once my income went over the limit, contribute to a traditional and convert via backdoor to Roth. Since all of my current projected retirement income is taxable, I liked the idea of diversifying a little bit. At current, I am projecting to have 401k, Social Security, and eventually taxable investments. Adding the Roth at this age won't make a huge difference, and I have zero idea what my tax bracket will be in retirement.
Now that there's a proposal to eliminate the ability to back door Roth, I'm wondering if there's even a point to opening one if I can only contribute for a few years. I could instead increase my 401k contribution to max (currently at 10%, maxing at my current salary would be 17%, which I can probably get close to). Once that is maxed, I could/would direct any additional retirement savings to a traditional. Once I receive my next promotion, I should be able to max both 401k and an IRA. Not sure if since I am over the income limit to deduct my IRA contributions, they are therefore not taxable in retirement, but I need to do more reading on that.
So, that's where I am confused - what say ye, good friends of Saving Advice? Should I just skip the Roth and focus on maxing 401k then spill excess into Traditional?