I am a graduate student making some money on royalities on a book of which I am a co-editor. I've been filing Schedule C (as self-employed) for the last two tax years. My wife, who is the main breadwinner for now, has a 403b. I've been thinking of setting up a Keogh for myself. But since my earnings are pretty meager (about $1,500 per year) and since they are not very reliable, I wonder if my wife could set up a Spousal IRA on my behalf instead. But the problem is: I make more than the $250 limit, which as far as I know disqualifies me for a Spousal IRA. Are there any other retirement plan options for me, short of investing in non-IRA taxable mutual funds or stocks? Or am I missing something here? Advise greatly appreciated.
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