What are the spousal benefits of an IRA?

Marriage provides benefits to IRA owners, that if you are unmarried, you wouldn’t otherwise receive. If you are married, the following are some of the IRA benefits available:

-Using your spouse’s income for IRA contributions

-More flexible beneficiary distribution options

-Dividing IRAs in divorce settlements

When you are married, planning for retirement should be a shared goal and responsibility. After all, whatever savings is accrued will be used to finance the retirement years for both spouses, and any retirement planning solution or strategy must take that into consideration.

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