IRA contribution structure that lets a married couple fund retirement savings for a non-earning or low-earning spouse.
A spousal IRA is an IRA contribution structure that lets a married couple fund retirement savings for a non-earning or low-earning spouse using the working spouse’s earned income.
It matters because retirement saving capacity can be shaped by household income structure, not just by the earnings of the account owner alone.
IRA
Traditional IRA
Roth IRA
Retirement Savings