President Obama's MyRA program, which kicked off in January, drew skeptics from the start. Now the National Center for Policy Analysis has joined the chorus, saying MyRA isn't worth bothering with, compared to what's already out there.
The NCPA points out that the new plan isn't geared up for the level of returns that draws most folks to the stock market, and that it offers a far more restricted investment choice than standard IRAs.
Not only that, but MyRA accounts can only be held for 30 years or until they reach a balance of $15,000, at which time they must be rolled over into a private IRA. So, it says, why not just go the IRA route now?
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