Newsletter Issue: August 2017
The End of myRA – What Now?
Late last month, the Treasury Department announced it would begin phasing out the myRA retirement savings program, citing it was too costly to maintain for such a low demand (despite that myRA has been available for less than two years). The Clinic is sorry to see this is no longer an option for low-income Americans who are struggling to begin saving for retirement because they lack the initial contribution needed to avoid fees.
Thankfully hope remains, as Financial Coach Andy Collado explains in a new blog post, detailing the best options for retirement savings following the close of myRA.
Join the Conversation: Retirement Savings
As we prepare for the loss of myRA, we are thankful to have the brilliant minds of the SHARE community to turn to. Here are some of our favorite resources to come out of the retirement savings #TopicoftheMonth!
- Which comes first, saving for kid’s college or retirement?
- A new way to save – Roth IRAs for Kids!
- Self-motivate for retirement savings using the compound interest calculator to set benchmark goals
- Get ready to retire with the NYPL’s free event, Money Matters: Before You Hang Up Your Hat, A Pre-Retirement Checklist
Social Spotlight: #EconomicJusticeMaker
The Center for Survivor Agency and Justice (CSAJ) are coloring social media to promote racial and economic equity, featuring quotes from their Guidebook (including the chapter on Identity Theft by the Clinic’s own Amy Cao!). How are you an #economicjusticemaker? Tag @CSAJNews and @financialclinic to share your story!
The Clinic Across the Country
Speaking Engagements, Presentations, and Features
The Clinic staff have been busy, offering their expertise at various conferences and presentations. A selection of recent appearances include:
- Implementation Lead, Alma Rojas, and Financial Coach, Andy Collado, gave their television debut as they discussed financial security strategies on Aliento Vision’s ‘Este es el Dia’ — watch the segment here!
The Clinic is thrilled to join the NY Association of Training and Employment Professionals (NYATEP) as a monthly contributor to the BUZZ – keep an eye out for the first article next month!