This mini-episode comes directly from a question sent to our team and is part of the show's Lightning Round where we answer your questions.
Does An IRA Still Work Even If You Don't Work?
This question comes in from Lisa, who may have received bad advice from the bank.
The truth is: anyone who is working can open an IRA - an individual retirement account, but there's more to it.
If your spouse is working, and making at least $13,000 of taxable income annually, you should BOTH be able to open up the account. I'll explain it fully in this mini-episode where we answer your questions.