re: MyRA - Government Backed Retirement Savings Program

quote:

---

think there's also quite a few who are entirely the opposite. If it's backed and guaranteed by the US government, many people will find that very attractive.

Right/Wrong, some people see it that way.

---

I can see how if you spend your time on the Poli Board you assume that everyone mistrusts the gov't. But in real life lots of people fear and mistrust "the stock market," and by comparison see anything issued by the gov't as inherently safe. Which it probably is, the risk of default on these suckers is about as close to zero as you can get.

The fact that it rolls over once you get 15 grand shows me that this is meant as a way to get people's feet wet in investing for retirement. According to the this article I read ten seconds ago, 40% of Americans over 50 have no retirement account at all. This seems like a clever way to target the people who either don't understand investing at all, or see it as scary risky gambling because stocks might go down.