Spousal IRA Calculator

Estimate growth in a spousal IRA.

What is a spousal IRA?

A spousal IRA (individual retirement account) allow spouses without earned income to contribute to their financial futures when married and filing taxes jointly with a spouse who has earned income.

Who opens the account?

The owner of the account.

What are the benefits of a spousal IRA?

• Increased retirement savings

• Employer not required

• Some brokerages match contributions

• Potential tax savings

What are disadvantages of a spousal IRA?

• Income and deductibility limits

• Contribution limits

• Early withdrawal penalties