How Does A Stay At Home Mom Save For Retirement?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A stay at home mom can have an IRA or a Roth IRA. The payments to an IRA are deductible from current income tax; those for the Roth IRA are not. The benefits from the IRA at retirement are taxed as ordinary income while those from the Roth IRA are not taxed at all. There isn't any current taxation for money held in either plan during accumulation.
    Answered on November 6, 2014
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