I Got Married, But Do I Still Get to Retire?

Hey ya’ll! So I got married, and am now a stay at home parent for the financial health of our household. I used to work in retail and had a 401k but cashed out during the early stages of the pandemic in connection to a family emergency.

My question is: What do we do now??? I’ve only ever known of 401k’s and retirement investing in relation to work. But now that I’m not working and all the money from my old 401k is spent is this something we should be saving for?? I’ve done some reading on Roth IRA’s and other avenues but I haven’t noticed anything from the perspective of NOT actively working?

Hubby and I are in our mid 20’s, and I feel that this is the best time for us to at least consider this since we aren’t currently saving for any big purchases (car, house, ect). Our kiddos are small enough that, for the moment, we aren’t spending other expenses on things like childcare and extracurricular activities.

Any links or tips are greatly appreciated! Thanks!


Hello there @gabby! As long as your husband has earned income (salary, wages, self-employment income, etc., …basically, any money that’s earned from working) and you file a joint tax return, you can fund Roth IRAs for both of you.

A Roth IRA that’s funded for a spouse without earned income is often referred to as a spousal IRA. Really it’s just a regular Roth IRA, so you can open one at pretty much any brokerage. Since you’re both under 50, you can each contribute up to $6,000 in your Roth IRAs in 2021 (but you have until April 15, 2022, to make your 2021 contributions).

It’s awesome that you want to prioritize retirement savings in your 20s. Even if you can only invest a small amount right now, that will make a huge difference later on since your money has so much time to compound. Good luck!


P.S. Here’s an article about spousal IRAs @gabby. https://www.thepennyhoarder.co…irement/spousal-ira/


Good job, Gabby! ? Yes, please start thinking of retirement now as you have a long runway to build up speed and your future self will thank you. There are ways to focus on your future even now.

If you can avoid “keeping up with the Jones” and make your own path, you can save each day and have more money when you need it. Avoid having the newest, latest and you save and have piece of mind. You can still enjoy things too. I have a Fitbit, I just don’t buy the newest model. I wait until they start marking down the older ones and enjoy one at half the price. And, don’t think of what you don’t have. Every time I see a new car (mine is 15 yrs old), I’m glad I’m not paying $500/month plus higher insurance.

Good luck ?

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Thanks! I really appreciate the tips! Hubby and I are still nailing down the details and merging budgets and what not. I’ll admit I didn’t realize marriage and kids meant so much paperwork haha ?.

I think we do okay for now but I’m big on taking breaks to periodically look at our budget and expenses and see where we can change gears to reach goals!

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good job Gaby ,we all learn on this site from each other,

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