What is a Spousal IRA? A Spousal Individual Retirement Account (IRA) is a special type of IRA that is designed to benefit a non-working spouse and allows a married couple to each have an IRA to help fund their retirement. I http://www.getrichslowly.org/blog/2016/11/09/what-is-a-spousal-ira/
Help Your Nonworking Spouse Save for Retirement With a Spousal IRA
Generally, individual retirement accounts (IRAs) can only be funded with earned income. So if you’re unemployed, that’s kind of a bummer. There is, however, a loophole if you’re unemployed and married: set up a spousal IRA.
As for Social Security, stay-at-home spouses can claim a benefit based on their partners. Even if you divorce, if you were married for at least ten years, you're entitled to that money, which can equal up to half of the main recipient's benefit. So, if your husband will get $1,000 each month, you would get $500. AARP has a calculator that parses all the variables. (Type "AARP Social Security Benefits Calculator" in your Web browser.)
Is a Spousal IRA Right for Your Retirement Savings Needs?
Pro: Unemployed? You Can Still Have an IRA To invest in an individual retirement account or IRA you typically need to have earned income. There is an exception, however, for married people. A spousal IRA is designed to let a working spouse make contributions on behalf of a non-working husband or wife. So if you choose to be a stay-at-home parent during your marriage or you lose your job, you can still stay active with retirement savings.
Spousal Roth IRA - Double Your Tax-Advantaged Savings