I did want to take a minute to share some information about the MyRA that President Obama announced at his recent address. Although it does offer safety for your investment, the long-term returns are low and are not likely to keep pace with the rate of inflation. I do not encourage you to use it as a long-term savings vehicle.
If you are close to retirement and looking for a short-term place to put your money that you will be using in the near term, you may want to consider a MyRA for that purpose. You will get better returns than in a savings or money market account. But it only allows you to save up to $15,000, so the small amount will not have much of an impact.
Also, if you are so terrified of investing in the market, and this safety net is the only way to get you to save, it is certainly better than having nothing at all.
If you want to learn more about the details of how the plan works, and the insights I shared, please read the article "Obama Plans 'MyRA' Retirement Saving Accounts" from Accounting Today. You can also gain some perspectives on it along with my insights and some alternative strategies in the article "Better Alternatives to President Obama's MyRA Plan" at Kiplinger's Personal Finance.
Needless to say, I can certainly help you look at your retirement plan options and evaluate the tax advantages and disadvantages of the various options. Please do not hesitate to contact me if you would like some help in this area.