Skip Navigation An official website of the United States Government.U.S. Department of the Treasury

Learn about saving and investing

myRA® can be part of a larger saving and investing strategy

Save up to fifteen thousand dollars and continue saving with another Roth IRA.

Planning ahead is key

Knowing how to ensure your financial well-being is one of the most important things you can do for yourself and your family. myRA makes it easy and affordable to start on this path. You just need to know a few basics, form a plan, and be ready to stick to it. Read on for more information about the basics of saving and investing.

Check out the Roadmap to Saving and Investing, from the United States Securities and Exchange Commission (SEC).

Make your money work for you

For most people, the only way to attain financial security is to save your money and invest it over a long period of time. Here are two ways you can do it:

Grow your money with interest

“Interest” is extra money you get back when you invest in certain accounts, like savings bonds, and certificates of deposit (CDs).

With myRA, the interest you earn is about 2%. For example if you save $1,000, after one year you’d have $1,020. That’s $20 in free money.

There are other investments with higher interest rates, but some of them risk losing money.

Invest in long-term growth

Purchases of property (houses and/or land) or investments (like stocks and mutual funds) tend to increase in value over time.

When you want your money back, you sell it, hoping someone else will pay more for it than you originally paid. But making money this way is not a guarantee, and there’s always a certain amount of risk.

Is there any risk involved?

A myRA account carries no risk of losing money. However, if you want to grow your money through other investments, there may be risk. Risk refers to the amount of uncertainty and/or potential loss in every investment decision. In general, as investment risks rise, investors seek higher returns to make up for taking such risks. To learn more about risk, check out the SEC’s Guiding Principles on What is Risk.

Will there be any fees?

myRA costs nothing to open and has no fees. However, if you want to grow your money through other investments, such as bonds, or mutual funds, there will likely be additional fees. Fees and expenses vary from product to product. An investment with high fees (or expenses) must earn more than a low-cost investment for you to get the same overall return. Even small fees can translate into large differences in returns over time. To learn more about fees and how they impact your investment, check out the SEC’s Understanding Fees.

description

Can I invest on my own, or should I get help?

When you’re ready to take the next step and invest your savings beyond myRA, you must decide whether you want to invest on your own or work with an investment professional. To learn more about your options, check out the SEC’s Guide to Researching and Managing Investments.

For even more information, visit investor.gov

Last updated 1/24/2017