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sandra426 t1_j2dpr6e wrote

Reply to comment by flowerssmellnice in Stay at home parent retirement planning? by flowerssmellnice

My understanding is that he can max out his 401K or traditional IRA contribution and then you can each contribute $6000 for a total of $12K/year to a Roth IRA. BTW, if you were to split up, you would be entitled to half of his 401K earnings since you didn’t work during the marriage.

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bowoodchintz t1_j2e3lyt wrote

He can max out his 401(k) AND ( not or) an IRA, AND she can max her own IRA, also known as a spousal IRA, for a total of $12,000 in combined IRA contributions.

Also, she would not be automatically entitled to half of his 401k earnings in a divorce. I’ve noticed you are giving advice that is incorrect, more than once. Please consider deleting or editing your comments, they could negatively impact others, and perpetuate poor understanding of personal finance.

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sandra426 t1_j2dpwa9 wrote

And try not to think of the Roth IRA as joint. All IRAs are individual accounts.

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