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IMHO, myIRA is a bad idea. Just another feel good law concocted by politicians to show they "care for the little people". OK, end of rant.

One of the things that myIRA touts is its low entry costs, i.e., don't need $500-1000 to open an account. Can add very little money monthly. In a discussion on another board, I pointed out my credit union offers an even better deal, only $5 to open a regular IRA and no other fees period. So essentially better than this new government option.

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