A little-used Individual Retirement Account (IRA) rule could help one-income couples shelter far more for retirement before the 2025 contribution window closes. Experts say many households still do not realise that both spouses can save, even if only one is earning.
A spousal IRA is one of those personal finance rules that sounds niche but can make a real difference. Under IRS rules, a married couple filing jointly may contribute to an IRA for a spouse without taxable compensation, provided the working spouse earns enough to cover both contributions. For 2025, the limit is $7,000 per person, or $8,000 for those aged 50 and over.
