In most cases, you need earned income to contribute to an IRA. However, a spousal IRA lets you work around that rule. Spousal IRAs can provide a big retirement boost to couples with only one income.
I have a pretty good amount in my IRA ($500,000) that I have contributed to for years. I also funded my husband’s IRA spousal account ($70,000) as he seldom worked and made zero contributions himself.
Understand options for inherited Roth 401(k)s, including rollovers and IRS rules. Tax-free growth strategies for mass ...
A spousal IRA can be a strategic move for couples looking to enhance their retirement savings, especially when one partner ...
The spousal IRA is basically an exception to the usual rule that someone must have earned income to contribute to an individual retirement account. This unique feature can double a couple's ...
Should you rollover a spousal inherited IRA or just leave it? This is likely just one of the many decisions that has been dropped in your lap. You may also receive much well-meaning advice from ...
Inherited IRAs and spousal IRAs are two different types of accounts that you can use for retirement planning. An inherited IRA is created when someone inherits that account, often from a non-spouse.
You and your spouse might align on goals but still disagree on the best investments. For example, one partner might shy away ...
A spouse who inherits an IRA has a choice. The surviving spouse can move the account into an inherited IRA to keep the tax shelter. Or she can choose to roll the account into her own IRA.
Retiring with another person can go very wrong if you're not on the same page about what that retirement will look like.
Living Local 15 host Jessica Williams is joined by Caleb Doane, Vice President of Foster Financial, as Caleb discusses how ...
If only one spouse works, the working spouse can make an IRA contribution on behalf of the non-working spouse. "If you don't have income, you can't put money in an IRA unless you are a spouse of ...