If you are over the contribution limit, there is a loop hole that allows you to contribute to a Roth IRA. You can contribute $5K to a traditional IRA and then roll or convert the $5k over into a Roth. You obviously, won't be able to take the the tax deduction from the traditional, but it essentially allows you to contribute to a Roth with an extra paperwork step.
IRA's are self directed, so you can invest in them how you want. Most retirement advisors don't recommend this, but something I like to do is have MLPs in my roth IRA. One thing to note is you need to manage it so that you aren't making mire than $1,000 in distribution yields/yr or else you'll feel the pain later when you withdraw.I try to stay around $700/yr in distributions just incase. Samething with REIT's.
This post was edited on 9/5 at 6:19 am