A Spousal IRA is a type of individual retirement account that allows a working spouse to contribute on behalf of a non-working or lower-earning spouse. It’s designed to help couples save for retirement even if one person doesn’t earn income from a job. The account is set up in the name of the spouse who doesn’t work or earns less, but the contributions can come from the working spouse’s income. Spousal IRAs can be either Traditional (where contributions may be tax-deductible) or Roth (where contributions are made with after-tax money but can grow and be withdrawn tax-free in retirement). This option helps couples maximize their household retirement savings.