myRA coming soon

[610Alpha]

http://www.washingtonpost.com/business/economy/starter-savings-accounts-obamas-myra/2014/01/30/00600ec0-8930-11e3-a5bd-844629433ba3_story.html

I have been warning anyone and everyone to stay away from this.

1) no one wants to give more money to these morons
2) Putting money into T Bills allows them to service more debt
3) People can go get an ETrade account and have way better returns
4) Jack Spriko predicted this on his TSP show as a starting step to get control over peoples 401k & IRA's.

I may not always like Jack or the way he comes off but on this one I have to give him credit, he specifically mentioned them using T bills to guarantee people a rate of return.

[xdpatriot]

I agree 100%. It's a way to get their foot in the door. If they're asking politely for them now, it won't be long before they're seizing them. 'For the greater good' of course.

[610Alpha]

I agree 100%. It's a way to get their foot in the door. If they're asking politely for them now, it won't be long before they're seizing them. 'For the greater good' of course.

Exactly...which is why I will do my best to educate people about this junk. I will be leading another Dave Ramsey Financial Peace University class this spring and I will be sure to warn people away from it in the class.

[protus]

yeah i keep worrying about the 401k deal. but mine did well..33.8% ...i keep wanting to re invest it else where but its done well just sitting. my new one i just dont look at but its only 6 months old so we'll see.

[610Alpha]

yeah i keep worrying about the 401k deal. but mine did well..33.8% ...i keep wanting to re invest it else where but its done well just sitting. my new one i just dont look at but its only 6 months old so we'll see.

Awesome!! I have been at my new company about the same time...my problem is they don't offer you me a self-directed brokerage account. I recommended to HR that they allow this...we'll see. Waiting on my previous employer to release my old 401k so I can do a direct transfer of that money to Etrade so that I can control the money.