Life · Chapter 11 · IRAs
Spousal IRA
Definition
A working spouse may fund a separate IRA for a non-working (non-wage-earning) spouse up to the full annual limit (plus catch-up if the non-working spouse is 50+) — even while participating in an employer plan.
Example
Tina (52, working) + Mark (54, retired): $8,600 into her IRA + $8,600 into his spousal IRA = $17,200 for the year.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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