Dear all. Thanks for answering this. I'm a Brit who's husband's been transferred to the US, we're in the same situation and I've been trying to understand all the new rules/terminology!Just to confirm that I've got this correct.1)My husband can contribute to his company's SEP to its maximum amount and have full company matching of his contributions. 2)He can also put $2,000 of already taxed money into a non-deductible IRA that will grow tax deferred until we take out the money.3)He can set up a Spousal IRA of $2,000 for me that is a deductible IRA that will also grow tax deferred. Please rap on wrists if I haven't been paying enough attention! However, assuming I've got this correct I've three additional questions.1) What happens if we set up the Spousal IRA and by the end of the year I have found a job? Can we change it into a deductible IRA in my own right?2) What happens if we get transferred back to the UK or another country? Can we keep these accounts open? If so, can we still add money? We got burned on our UK retirement accounts when we moved so I'm trying to be more Foolish this time!3) I've been doing some Foolish research and thought about setting one of the IRAs up with the Vanguard S&P 500 index (VFINX) or Vanguard Wiltshire 5000 index (VTSMX) and the other as Vanguard Health Care (VGHCX). Looks like I've got the Vanguard fetish!! Could I buy a mixture of the stock index funds (QQQs, DIA's and SPYs) instead and would this have any benefits/drawbacks? Also, should I consider a non-US fund to balance risk? Any other suggestions on how we invest the money? We have at least 15years before retirement. Ta very much in advance!!!