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What's your spouse's retirement plan?

History can attest that setting aside money for retirement can be one of the most essential elements to helping you achieve a comfortable financial future. But did you know you can help your spouse invest toward your family’s future as well? A spousal IRA can give you the ability to do just that.

Whether your spouse is employed or unemployed, opening a GuideStone IRA in his or her name (commonly referred to as a spousal IRA) may help you set aside retirement income for specific goals. A non-working spouse who has retirement accumulations from a previous job can roll those funds into a GuideStone IRA set up on his/her behalf by their spouse. The working spouse can then help build supplemental retirement income by making active contributions to this spousal IRA. Check with previous employers for any open IRAs to make sure your spouse doesn’t have money in an old retirement account. Down the road, you may choose to use the additional retirement income from the non-working spouse's IRA for discretionary expenses, while using the primary account for more essential expenses.

If an IRA makes sense for you, now is a great time to open one. Here are just a few of the benefits of opening an IRA:

  • Your contributions may immediately lower your taxable income
  • Your earnings grow tax-deferred over time
  • You establish an additional method to boost your retirement savings
If you would like more information about an IRA for your spouse to decipher whether one is right for your family, GuideStone stands ready to help. You can call us at 1-888-98-GUIDE (1-888-984-8433) between 7 a.m. and 6 p.m. CST Monday-Friday, or email us day or night.

You should carefully consider the investment objectives, risks, charges and expenses of GuideStone Funds before investing. For a copy of the prospectus with this and other information about the funds, please download a prospectus or call 1-888-98-GUIDE (1-888-984-8433). You should read the prospectus carefully before investing.

IRAs are made available through GuideStone Financial Services, member FINRA. Shares of GuideStone Funds are distributed by BNY Mellon Distributors Inc. GuideStone Funds and GuideStone Financial Services are controlled affiliates of GuideStone Financial Resources.

This information should not be considered tax or legal advice. GuideStone stands ready to assist your organization as you work with your legal and tax advisers by providing resource information that you and your adviser may find beneficial.