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Financial Answer Center > Investing For Retirement

IRAs (Individual Retirement Accounts)

	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 in 2010

Spousal IRAs

If your spouse is not working, you can establish a spousal IRA. You and your spouse can make IRA contributions of up to $5,000 and $6,000 in 2010 and 2009 if age 50 by December 31, 2010 (December 31, 2009 for 2009 tax year) each in 2009, 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 $10,000 in 2010 (same in 2009), $11,000 (same in 2009) if at least one of you is age 50 by December 31, 2009, and $12,000 (same in 2009) if both of you are eligible for the catch-up provision.

This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. registered representatives. LPL Financial's U.S. registered representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Securities and Insurance products offered through LPL Financial and its affiliates member FINRA/SIPC. OceanFirst and Investment Services at OceanFirst are not broker/dealers nor are they affiliated with LPL Financial.

Not FDIC Insured

Not Bank Guaranteed

May Lose Value

Not Guaranteed by any Government Agency

Not a Bank Deposit