If your spouse is not working, you can establish a spousal IRA. You and your spouse can make IRA contributions of up to $6,000 and $7,000 if age 50 by December 31, 2020 each in 2020, providing your tax filing status is married/filing jointly and your combined earnings are at least equal to the contributed amount.

As a result, a couple can contribute a total of $13,000 in 2020, ($13,000 in 2019) if at least one of you is age 50 by December 31, 2020, and $14,000 if both of you are eligible for the catch-up provision.