Preheat oven to 325 degrees. Grease and flour an bundt cake pan.
Heat a medium saucepan on medium low heat and melt the butter. Once melted add in the sugar and water and whisk, simmer 2-3 minutes until sugar is dissolved. Turn off the heat and add the Spiced Rum, salt and whisk. Turn the heat back on and bring to a low simmer (careful not to boil over the sides)
When the cake is done remove it from the oven. And immediately SLOWLY pour half the glaze over the top. Let is set for 5 minutes.
Sprinkle powdered sugar over top before serving.