“MyRA”, the Obama administration’s fee, guaranteed-return starter retirement account, launched nationwide, on Nov 4^th, 2015. “MyRA” accounts are available for U.S. workers whose employer don’t offer a retirement plan and earning a single income below $131,000 a year or $193,000 for married couples.

Benefits:

• No fee to open one, free to convert to other retirement
• No risk of losing value, Interest rate earned is a little over 2% (same rate as Government Securities Fund investments)
• After tax contribution and withdrawn tax free in retirement
• Maximum contribute $5,500 ($6,500) for taxpayer under 50 (at least 50)