The MYra Scam

[The Rabbi]

We know Team Obama has been playing Americans for suckers for years. This just adds to it.
MyRA Plans: New Retirement Savings Option for Some - WSJ.com

So you've got a scheme (and boy is it ever) that takes more money from people, after tax, i return for a promise of some kind interest down the road. One that will probably not equal the rate of inflation.
Some deal, right?
The hell is people without access to retirement plans at work can open traditional IRAs already.

 

[Mr. H.]

The White House is betting that convenience—and not necessarily rate of return—will nudge Americans who currently aren't putting anything away for retirement into participating in a new type of savings plan.

I've had to fund my own IRA my entire career. In July, I'll be able to begin making withdrawals.