Money Smart Week and myRA

Money Smart Week is here! This week is dedicated to helping Americans become financially capable. Money Smart Week is a nationwide campaign with the goal of helping American consumers become financially capable. Money is a stressful topic for many people. MSW offers free classes and events to help people better understand money topics such as investing, saving, debt, using credit, etc. There are events for all ages, demographics, and income levels. You can find a list of all the events in your area here www.moneysmartweek.org/findevents.

One of the American consumer’s biggest challenges is saving. 54% of Americans do not have a savings account with at least three months worth of living expenses in case of emergency. Millions of Americans are not saving enough for retirement, or saving anything at all. The U.S. Department of Treasury has created myRA for those who do not have access to employer-sponsored retirement accounts. You can contribute as little as a few dollars a month and up to $5,500 a year. Contributions are invested in a new United States Treasury Security that safely earns interest at the same variable rate as investments in the government securities fund for federal employees and carries no risk.  For more information on the myRA program, visit https://myra.gov/about/.