April 29, 2016

Mom deserves an IRA for Mother's Day

Forget the usual gifts of flowers, a restaurant meal, or another kitchen appliance. What stay-at home moms really need for Mother's Day is an Individual Retirement Account (IRA). Non-paid spouses can have their own IRA as long as their spouse earns an income. Homemakers do not earn Social Security retirement credit for their hard work and contributions to families. While that policy oversight may not be remedied in the near future, families should contribute to the retirement security of full-time homemakers, mostly women who are likely to outlive their spouses, by regular contributions to an IRA. For details simply search for retirement and IRA on this blog. For more thoughts on this topic read:Retirement Planning for Stay-at-Home Moms.  Here’s how parents who aren’t earning an income can prepare for retirement. http://money.usnews.com/money/blogs/on-retirement/articles/2016-04-27/retirement-planning-for-stay-at-home-moms
Come to the June 8 Financial Planning for Women program on selecting mutual funds for IRAs and other goals; details at http://www.usu.edu/fpw/


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