How a spousal IRA can help a stay-at-home parent retire with security

2 min read

A spousal IRA gives a stay-at-home parent the opportunity to have a tax-advantaged retirement savings plan of his or her own.

The spousal plan, available as either a traditional or Roth IRA, is officially called the Kay Bailey Hutchison Spousal IRA. It was renamed in 2013 for the former senator from Texas, who said she had authored the underlying legislation because of her own experience as a nonworking spouse.

Learn how the spousal IRA can benefit you if you’re a stay-at-home mom or dad.