New Retirement Savings Option - News and Weather For The Quad Cities -

New Retirement Savings Option

Posted: Updated:
  • Most Popular StoriesMost Popular StoriesMore>>

  • Infant Left Alone In Moline Store Parking Lot-UPDATED

    Infant Left Alone In Moline Store Parking Lot-UPDATED

    Tuesday, July 22 2014 4:12 PM EDT2014-07-22 20:12:08 GMT
    UPDATE: A woman on a shopping trip may have saved the life of an infant left alone in a parked car Tuesday morning. The incident happened in the Dollar General store parking lot, located at 2010 36th Ave. in Moline, Ill.More >>
    UPDATE: A woman on a shopping trip may have saved the life of an infant left alone in a parked car Tuesday morning. The incident happened in the Dollar General store parking lot, located at 2010 36th Ave. in Moline, Ill.More >>
  • A Look At Central Davenport Violence This Year

    A Look At Central Davenport Violence This Year

    Wednesday, July 23 2014 11:36 PM EDT2014-07-24 03:36:38 GMT
    Police responded to reports of shots fired at around 4 PM on the 900 block of W. 6th St. Police are yet to confirm the details, but some neighbors say they heard as many as two shots fired that were spread four minutes apart. Others say they heard one.More >>
    Police responded to reports of shots fired at around 4 PM on the 900 block of W. 6th St. Police are yet to confirm the details, but some neighbors say they heard as many as two shots fired that were spread four minutes apart. Others say they heard one.More >>
  • Mother Who Left Baby In Hot Car Has First Court Appearance

    Mother Who Left Baby In Hot Car Has First Court Appearance

    Wednesday, July 23 2014 7:19 PM EDT2014-07-23 23:19:55 GMT
    A woman charged with leaving her 6 month old baby alone in a hot car made her first appearance in a Rock Island County court today.More >>
    A woman charged with leaving her 6 month old baby alone in a hot car made her first appearance in a Rock Island County court today.More >>

For some of us saving money is all about setting yourself up for financial stability in the future. Joe Slavens with Northwest Bank And Trust Company says the 'myRA' savings account could do just that.

"Savings is really important and anything we can do in this country to encourage people to save is worth trying," Joe Slavens said.  "The sooner we can get people to save and obviously the lower the expenses that they are, the more opportunity to earn interest over time. We'll have more folks with more money at retirement age."

President Obama called on the Department of Treasury to create the 'myRA' account.  It would only be available for workers with a household income under $191,000.  The account would allow workers to add up to $5,500 a year, but would have a limit of $15,000.  The president says this will help people avoid retirement crisis by saving as early as possible. This option makes sense to Taylor Ahmann who wants to save, but doesn't have the option at  work.

"As a bartender, we don't have those. I know I'll be starting a job at some point here. it would be nice to start saving money right now, " Taylor Ahmann explained.

Ahmann claims it's an account she'd certainly take advantage of because she understands how important it is to start saving early. She even adds how attractive this retirement option is because it won't have hidden fees.  

"Without the fees, its your money you're saving. You're not getting tricked out of money that you could have," said Ahmann. "I think it's a good effort and if its done in the right away. I think people might jump aboard."

Powered by WorldNow

805 Brady Street, Davenport, IA 52803

Telephone: 563.383.7000
Fax: 563.383.7131
Email: news@kwqc.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Davenport, Inc. A Media General Company.