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Is myRA for me?

myRA® might be right for you if:

  • You want a safe investment guaranteed to not lose money
  • You’re worried about fees and minimum account requirements
  • You want to start or boost your savings in an account that safely earns interest

Because myRA is a ROTH IRA and follows the same rules, savers (or their spouses, if married filing jointly) must have taxable compensation to be eligible to contribute to a myRA account and generally must earn an annual income below $133,000, if single, and $196,000, if married filing jointly.*

The Roth IRA structure has a number of benefits, including:

  • Allows for tax-free and penalty-free withdrawal of money you put in (your contributions) at any time.
  • Provides tax-favored treatment at the time of payout rather than at the time of contribution.
    - This is generally a good fit for savers who are currently in a low tax bracket but may have higher income in the future.
  • Makes it easy for savers to transfer or roll over their savings tax-free to private-sector Roth IRAs.

If you already have access to a retirement savings plan, such as a 401(k), learn more about that plan because it might offer matching contributions and other benefits.

Start your broader retirement journey with myRA

myRA is a way to get started saving. Think about how it can fit into your saving strategy.
Save up to fifteen thousand dollars and continue saving with another Roth IRA.

*Generalization only; not a true representation of actual savings

Interested in a myRA? It only takes 15 minutes to get started – and it’s completely free.

*Annual and lifetime contribution limits and annual earned income limits apply, as do conditions for tax-free withdrawal of earnings. Limits listed are for 2017 and may be adjusted annually for cost-of living increases. To learn about key features of a Roth IRA and for other requirements and details, go to

Last updated 05/12/2017