Ep 4: The Value of a Spousal IRA with Gigi Verrey

Feb 10, 2022

Are you a stay-at-home mom or are you thinking about leaving the workforce? Are you worried it will impact your financial benefits and retirement future? Many women haven’t heard of a Spousal IRA and its benefits for those outside the traditional workforce.

On today’s episode, Gigi Verrey, the VP of wealth management at GCG Financial, joins us to discuss the one financial investment that all stay-at-home moms need to have. If you are married and filing jointly, you can take advantage of this investment tool. It’s not a joint account, it’s similar to a regular IRA or Roth IRA.

By virtue of you being a spouse, your partner can contribute money into the Spousal IRA for your future, as long as your combined income is greater than the amount you can put away. The money in this account is your money, even if you end up getting a divorce. We’ll discuss the value of this great retirement tool, how the investments work, and more with Gigi. Having a retirement account in your own name comes with power, security, and value.

Join us today as we discuss: 

· What a Spousal IRA is and how you can invest in one

· What the difference between a regular IRA and a Spousal IRA is

· Contribution limits, investment advice, and tax rules for Spousal IRAs

· The money in a Spousal IRA is your money!

Contact Gigi: gigi.verrey@gcgfinancial.com

Listen to the full podcast or use the timestamps below to jump to a specific section. 

1:36 – Welcome Gigi!

2:33 – What is a Spousal IRA?

4:40 – What makes it a Spousal IRA?

6:35 – Having separate accounts

7:16 – What kind of investments?

8:53 – Transferring money

9:41 – What designates a Spousal IRA?

11:00 – Are they tax-deferred?

14:18 – What happens during a divorce?

17:42 – Combining money into your partners IRA

19:08 – Enjoying the growth of your income

21:27 – When do you need an account by?

23:09 – The best way to contact Gigi


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