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A Spousal IRA allows a working spouse to contribute to an IRA on behalf of a non-working or low-income spouse, effectively doubling the couple’s retirement savings potential. This type of IRA offers significant tax advantages, including tax-deferred growth for Traditional IRAs or tax-free withdrawals for Roth IRAs. By utilizing a Spousal IRA, couples can maximize their retirement contributions, even if one spouse is not earning an income, ensuring both partners are on track for a secure financial future.

Learn more about the Spousal IRA strategy

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