WE ALL KNOW WHERE WE'RE HEADED:

Don't have a 401(k) or pension at your job? The federal government has an option for you called myRA.

President Obama announced his plans for the starter retirement savings accounts in his State of the Union address last year. The accounts will be backed by the government, charge no fees and you'll be able to contribute directly from each paycheck. [...]

Here's how it works: the accounts are basically a new kind of Roth Individual Retirement Account, which means that you can invest after-tax dollars and withdraw the earnings tax-free in retirement. Plus, you can withdraw the funds you put into the account without penalty at any time.

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