There are no income limits for traditional IRAs 1; however, there are income limits for tax-deductible contributions. There are income limits for Roth IRAs. No, there is no maximum income limit for a traditional IRA. Anyone can contribute to a traditional IRA.
While a Roth IRA has a strict income limit and people with incomes above it can't contribute at all, that rule doesn't apply to a traditional IRA. The ability to make non-deductible contributions regardless of income level makes traditional IRAs a valuable retirement savings account that can be converted into a clandestine Roth IRA. You may still want to make a non-deductible contribution, either because you prefer to allow your investments to grow tax-free and defer income taxes or because you want to make a clandestine contribution to the Roth IRA by contributing to your traditional IRA and then converting it into a Roth account. People who juggle multiple IRA accounts or who set automatic contributions that are too high could end up investing too much money in a Roth IRA or a traditional IRA.
If you don't have taxable compensation but file a joint return with an earning spouse, you can open an IRA in your name and make contributions through a spousal IRA. Remember that you are also not subject to income limits when you make contributions to a SIMPLE IRA or an SEP IRA; options that are only available if your employer offers them, if you are a small business owner, or if you are self-employed and can open one on your own. If you make too much money, you may still be able to contribute to a Roth IRA through a strategy called a clandestine Roth IRA. Traditional IRAs don't have this rule, as do other types of IRAs, such as SEP IRAs and SIMPLE IRAs, which are often used by self-employed individuals and small business owners.