Actuarial data shows women live longer than men, but many women lag behind in retirement savings. Astute retirement planning gives modern women the edge whether they are single, married, work outside the home or manage a household. According to an article by cnbc.com, women in the United States save less money for retirement compared to their male peers.
When it comes to most retirement accounts, employed people exclusively qualify to make contributions. For married people who are not currently employed, the best option for retirement planning is a spousal IRA. According to an article by Market Watch, the official name of the spousal IRA is the Kay Bailey Hutchison IRA, but most people continue to call it a spousal IRA for short.