Spousal Individual Retirement Accounts
A spouse who stays at home to take care of children or other dependents is likely to have reduced Social Security benefits and will not have access to a workplace retirement plan. So a spousal Individual Retirement Account (IRA) can be an important step to enabling retirement security. An IRA is a...
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| Format: | Article |
| Language: | English |
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The University of Florida George A. Smathers Libraries
2014-11-01
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| Series: | EDIS |
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| Online Access: | https://journals.flvc.org/edis/article/view/132006 |
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| Summary: | A spouse who stays at home to take care of children or other dependents is likely to have reduced Social Security benefits and will not have access to a workplace retirement plan. So a spousal Individual Retirement Account (IRA) can be an important step to enabling retirement security. An IRA is a tax-advantaged way to accumulate money for retirement. In order to contribute to an IRA you must have taxable compensation. But if your spouse has taxable compensation and you file a joint return, then you can fund an IRA. This 2-page fact sheet was written by Lisa Leslie, and published by the UF Department of Family, Youth and Community Sciences, November 2014.
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| ISSN: | 2576-0009 |