What is the best way to save for retirement if I am a stay at home mom. What is a spousal IRA?
Posted by Dolores
I love sushi asked:
I quit my job to stay home with my daughter. But i may go back to work some day and would like to use my 401K money to continue saving for retirement in the mean time. What is the best option?
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I quit my job to stay home with my daughter. But i may go back to work some day and would like to use my 401K money to continue saving for retirement in the mean time. What is the best option?
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April 22nd, 2009 at 3:07 am
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you can open an IRA or a Roth, but there are some rules and income limits.
go to this site and it will expalin the law
search on IRA rules and be sure you are looking a current info
April 25th, 2009 at 1:18 am
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I would roll your old 401(k) over into an IRA. You may also be able to start a spousal IRA. See for all the rules.