Reported about 1 year ago
Vanguard Senior Wealth Advisor Cassandra Rupp discusses the benefits of spousal IRAs, where a working spouse can contribute to an IRA in the name of a non-working spouse with little income. Rupp explains that there are no cons to this type of account, emphasizing the differences between traditional and Roth IRAs based on current and future tax situations. This allows couples to plan for retirement effectively, with each partner contributing to their financial future. Discussing with a financial advisor can help navigate retirement planning and investment decisions for the long term.
Source: YAHOO