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Writer's pictureBrian Page

The Spousal IRA

The spousal IRA

Most working Americans can consider two types of IRAs: a traditional IRA and a Roth IRA. Both can be a great way to build up tax-advantaged wealth for retirement.


Most folks do not know that a Spousal IRA can be used to increase tax-advantaged retirement savings and strategically optimize tax deductions. It can be used when one spouse is not covered by a workplace retirement plan.


Sean Mullaney is an advice-only financial planner and the President of Mullaney Financial & Tax, Inc. Through Mullaney Financial & Tax, Sean provides advice-only financial planning for a flat fee. We hosted Sean on the Modern Husbands podcast, an episode that will be released in early 2024. I have never heard anyone better explain taxes in plain language.


 


The Modern Husbands Podcast


Winning ideas from experts to manage money and the home as a team. 2023 Plutus Award Finalist: Best Couples or Family Content


🔔 Click here to listen and subscribe to the Modern Husbands Podcast on Apple.

🔔 Click here to listen and subscribe to the Modern Husbands Podcast on Spotify.


 

In his post below, Sean explains the ins and outs of a spousal IRA.



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