Retirement for high earners
Looking for some advice. I worked for corporate for many years and contributed to their 401k plan. A couple years back, I left and bought my own business. I rolled my old 401k into a traditional IRA at Robinhood to take advantage of their 3 percent match bonus. Currently that account has about 1 million in it. Now that I work for myself, I make too much money to be able to get the tax deduction on any further contributions to this IRA, thereby making it pointless to contribute to it any further.
What options do I have if any to continue to save for my retirement? I looked at the backdoor Roth method, but it seems that won't be a good option for me due to the pro rata rule. I know I could set up a 401k for my new business, but then I would have to pay all the fees associated with that, and price match on all my employees, etc. Those costs seem to make that a bad idea. Is there literally nothing someone in my position can do to maximize savings for retirement? It seems like my only option is to just fund a taxable brokerage account and at least then I will be able to pay taxes at the long term gain rate which would provide some tax savings. I just feel like I'm missing something. Any advice is appreciated.