Category Archives: retirement changes need immediate action

The U.S. Department of the Treasury is phasing out the myRA® program. I am truly sorry to see this program end. I read, whether true or not, that the program is ending because it has been deemed too costly to operate.  I would very much like to add comments about the waste within our government, but I believe I could accomplish more by providing useful financial information to those of you who read my blog.

If you have invested in the program, go to the myRA website for important details about your account and the next steps you need to take. There are several options you have to transfer/withdraw your money.  I would prefer that you NOT withdraw your money without reinvesting into a Roth IRA.

And here’s my major reason why – the power of compounding interest.


The money you save in a savings, retirement, or other account can earn interest or investment earnings.  When you leave the money there, over time you can also earn interest on your interest, or earnings on your earnings.  Although this sounds like a slow process, once you get started it can result in some impressive growth in the money you’ve saved or invested over the long haul.

Here’s just a simple example.  Say you initially put $500 into an investment, you add $25 each month, the money earns 4% compounded monthly.  What would you have at the end of 25 years?  $14,201.12.

You don’t even have to know how to do the math for my example. So, don’t panic.  Access and use the “compound interest calculator.” is a website of the US Securities and Exchange Commission. One of the objectives of the Commission is to protect investors.  It’s an excellent website and provides resources and financial information in a format that is easily understood.

I believe it’s more important than ever for everyone, even young children, to understand basic financial concepts.  Why? Not only for your personal financial security but also for your understanding of how your municipalities handle their finances – ultimately your money.  If you don’t have a basic understanding of money, how do you know if the people you elect for your government positions are financially savvy!

Thank you for visiting my website and reading my blogs.

Comments Off on changes need immediate action

Filed under retirement, wealth creation

Need Help Saving for Your Future?

Do you need help saving for your future?  There is a great starter retirement savings program called myRA.  It’s a savings account from the United States Department of the Treasury.

There are:

  • No cost or fees
  • No complicated investment options
  • No risk of losing money

It’s simple, safe and affordable.

Who is myRA for?

The program is designed to make saving for retirement easy for people who need it most – the workers who don’t have access to a retirement savings plan at their job or lack other options to save.

Why is it a good option?

It’s simple.  You take control.

  • You can set up automatic contributions.
  • If you change jobs, the account stays with you.

Withdraw the money you put into your account any time without paying tax and penalty.

It’s safe.  No need to worry about your investment.

  • The investment is backed by the United States Treasury.
  • Your account safely earns interest at the same rate as investments in the Government Securities Fund.
  • Guaranteed by the government never to decline in value so there’s no risk of losing money.

It’s affordable.  Fits your budget with no cost or fees.

  • myRA costs nothing to open and has no fees.  You can contribute any amount you choose – $2, $20, $200, etc.  Whatever fits your budget.
  • myRA is a Roth IRA and subject to the same rules that apply generally to Roth IRAs.

Visit to learn more about this truly great program to start your saving program to secure your financial future.

Thank you for visiting my website and for your interest in wanting to secure a future free a money worries.

Comments Off on Need Help Saving for Your Future?

Filed under retirement, wealth creation