fool.com·May 3, 2026
A spousal IRA allows non-employed spouses to save for retirement using funds from their employed partner's income, helping to build a personal nest egg while potentially reducing taxable income. Contributions can be made to either a traditional or Roth IRA, with annual limits applying based on age and income.
For a professional investor interested in maximizing retirement savings while minimizing taxable income, consider leveraging a spousal IRA if you or your partner are not employed. This allows contributions of up to $7,500 (or $8,600 if over 50) using your spouse's income, providing tax advantages through a traditional IRA or tax-free growth with a Roth IRA, depending on your current and expected future tax bracket.