Does Your Stay-at-Home Spouse Need a Separate Spousal IRA?

We often hear people talk about spousal IRAs, but does your spouse need one? Do they even exist? On the Get Ready For The Future Show, we're answering YOUR questions! Like this one from Bradley in Cabot:
"Should I continue contributing to my spouse’s Roth IRA if they are now a stay-at-home parent or do I need to start a separate spousal IRA?"
Pro tip: the IRS doesn't use or acknowledge the term "spousal IRA." We definitely think contributing on your stay-at-home spouse's behalf is a great idea, but if they have an IRA already, there's no need to open something new unless you're maxing out both of your IRA contributions! Janet and Scott explain more about this and other considerations you need in your financial plan for a stay-at-home spouse!
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❓ Have your own questions? Call or text us at 501.381.5228 or email [e-mail]. And catch the Get Ready For The Future Show anywhere you get your podcasts.
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[@EJO_VZN]

Thanks for this. I appreciate your insight. Also, for the plug at the end for life insurance. My wife and I are expecting our first child in December and we are looking into life insurance. She doesn't have an IRA yet but I was looking into opening her a Roth IRA and contributing to it on her behalf. I already have one myself. But I've also been wanting to contribute to the brokerage account to grow our investments faster with a bit more liquidity than a retirement account. That said, do you recommend prioritizing maxing both IRAs before making contributions to a brokerage account?