Pro: IRA Benefits
Saving for your future together is a must and depending at what age you’re getting married, the road ahead may be a long one. In fact, it could be a confusing and challenging one, but the state does offer married couples a helping hand.
You and your spouse can both benefit from IRA accounts, known for having great tax advantages, even if only one of you is working.
Whichever one of you is working can open an IRA in the other’s name. They can then make tax-deductible contributions, known also as spousal contributions. This should give you both a leg up when saving for retirement.
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