Best strategy for non working wife’s trad IRA?
I make (41 yo) make about 350-400k a year (varies). My wife (34 yo) gave up her career to raise our young children and has no intentions on returning to it, for at least the foreseeable future. Recently got rid of student loans (over 500k) and have no other debt outside of 2.3% mortgage. I max my 401k every year with a $400k balance. I am maxing out a back door Roth with 50k in it. I’m also maxing an HSA. I have another 200k in a taxable brokerage account (now contributing 3k a month to it) and a 100k emergency fund plus another 40k in money market savings for some personal goals. My wife has a traditional IRA with 200k in it. All of my funds are some version of VTI/VXUS with no bonds (the roth is in Fidelity zero funds and my 401k is in close equivalents that are available).
My wife has no intention of going back to work and asking her to open up some sort of self employed gig to get access to a self 401k isn’t worth the effort right now with a new born and 2 yo. So getting that into a 401k isn’t going to happen anytime soon. Converting to Roth seems dumb when my income is high. Is my best bet just to keep this money into VT equivalents? Her money is not as easy to manage since I would have to have her do it or login for her (not a big deal but still a consideration). Should I just throw that 200k into a target date fund? Should I use this account for bonds? Any creative ideas?