I just recently looked into investing (as a 26 year old, I know I'm slightly late to the game). But the myRA option looked appealing. However, I couldn't find an abundance of information on it, as I can usually with other investment vehicles.
Are there any good sources for easy-to-understand readings of how myRA works, and how to take advantage of it? Specifically, I'd like to know the following:
- Where do I sign up? (i.e. Vanguard offers Roth IRA; who would offer a myRA)?
- If I've maxed out my 401k and Roth IRA already, can I still max out a myRA?
- I remember reading that the max limit in that account is $15k. However, if my money in that account increases, how do I transfer the gains to a Roth IRA if I have already maxed out my Roth IRA? Am I forced to pay taxes?
- Is this better than putting money into a low cost index fund with Vanguard?
Any help is appreciated. Thanks!