- A Tax-Free Way to Save: the Roth IRA
- The Traditional IRA
- Catch-Up Contributions
- Will My Contribution Be Deductible?
- The Traditional IRA vs. the Roth IRA
- What Type of Assets Can You Contribute to Your IRA?
- Setting up an IRA
- Investment Considerations for Your IRA
- When Is the Best Time to Contribute?
- Spousal IRAs
- Advantages and Disadvantages of IRA Accounts
- Rollovers to Your IRA
- Converting a Traditional IRA to a Roth IRA
- Roth IRA and 401(k)
- Choosing between the Roth IRA and Other Vehicles
- Roth IRA Conversions
If your spouse is not working, you can establish a spousal IRA. You and your spouse can make IRA contributions of up to $5,500 and $6,500 if age 50 by December 31, 2015 each in 2015, providing your tax filing status is married/filing jointly and your combined earnings are at least equal to the contributed amount.
As a result, a couple can contribute a total of $12,000 in 2015, (same in 2014) if at least one of you is age 50 by December 31, 2015, and $13,000 if both of you are eligible for the catch-up provision.