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Started By
Message
re: MyRA - Government Backed Retirement Savings Program
Posted on 1/29/14 at 9:11 am to LSURussian
Posted on 1/29/14 at 9:11 am to LSURussian
quote:
This will be a hard sell to most investors.
Aimed not at investors but the ignorant. Apparently not know about IRA and such means you 'don't have access' now.
Apparently have to make less than 191K to qualify and once the balance hits 15K, it gets moved to an IRA
1
Posted on 1/29/14 at 9:16 am to igoringa
quote:
once the balance hits 15K, it gets moved to an IRA
Yeah,
quote:
Participants could save up to $15,000, for a maximum of 30 years, in their accounts before transferring their balances to a private-sector Roth IRA.
Was confusing to me. Is it saying you can contribute up to $15K a year for 30 years, or is it saying that for 30 years you can contribute up to $15K, then you have to transfer it?
To me, if all you can contribute is $15K, it is a glorified money market account. To call something a "retirement" account, then only let investors contribute $15K seems a little absurd.
This post was edited on 1/29/14 at 9:24 am
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