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Money

The www.FedPrimeRate.com Personal Finance Blog and Magazine

Wednesday, November 04, 2015

Treasury Department's Retirement Savings Plan -- myRA -- Opens for Business Today

Today, the Treasury Department launched the Obama administration's solution to the problem of complicated and onerous retirement savings accounts: myRA.gov.  A very good retirement-savings option, especially for those who don't have access to a retirement saving plan at their place of work.

Benefits include:

  • It's safe; it's a Roth IRA which utilizes a new U.S. Treasury retirement savings bond.
  • It's affordable; zero fees / costs.
  • It's simple; no bewildering array of investment options.

NB
: If you are already taking advantage of a 401(k) plan at your job, you'll probably want to stick with it, especially if your employer is augmenting it with matching contributions.

Here's a short video from the folks at myRA.gov.:




For a little more, click here for a clip from today's Nightly Business Report on +PBS.

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