Generally, individual retirement accounts (IRAs) can only be funded with earned income. So if you’re unemployed, that’s kind of a bummer. There is, however, a loophole if you’re unemployed and married: set up a spousal IRA.
What is a Spousal IRA? A Spousal Individual Retirement Account (IRA) is a special type of IRA that is designed to benefit a non-working spouse and allows a married couple to each have an IRA to help fund their retirement. I http://www.getrichslowly.org/blog/2016/11/09/what-is-a-spousal-ira/
Pro: Unemployed? You Can Still Have an IRA To invest in an individual retirement account or IRA you typically need to have earned income. There is an exception, however, for married people. A spousal IRA is designed to let a working spouse make contributions on behalf of a non-working husband or wife. So if you choose to be a stay-at-home parent during your marriage or you lose your job, you can still stay active with retirement savings.