How to Make Spousal IRA Contributions

If you are married and looking for ways to set aside more money for retirement, you may want to consider funding a spousal individual retirement account."A spousal IRA is an IRA that can be opened for a non-working or non-participant spouse," says Christine Centeno, a financial planner and founder of Simplicity Wealth Management in Glen Allen, Virginia.A spousal IRA provides tax breaks to married couples and a variety of investment options to choose from.