Encouraging savings is a positive step, but I'm not sure this will achieve a great deal of additional retirement security. It makes me wonder whether the birth of MyRA may also be an admission of what some of us already believe: that social security is not as secure as some in the government have proclaimed, and that the writing is on the wall that benefit cuts and increasing the retirement age will have to occur at some point in the future.

To create real retirement security in this country, the government could start by creating an environment that is conducive to hiring. Many won't even be able to participate in MyRA because they can't find work. First things first.

Finally, how about allowing workers to invest a portion of their social security contributions into the markets? An old idea, for sure, and not a popular one with many, but I have more faith in long-term market returns and my ability to manage a portfolio and reduce risk as retirement approaches, than I do that my guaranteed social security will be there upon my retirement.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Jonathan Heller, CFA,CFP® is president of KEJ Financial Advisors, his fee-only financial planning company. Jon spent 17 years at Bloomberg Financial Markets in various roles, from 1989 until 2005. He ran Bloomberg's Equity Fundamental Research Department from 1994 until 1998, when he assumed responsibility for Bloomberg's Equity Data Research Department. In 2001, he joined Bloomberg's Publishing group as senior markets editor and writer for Bloomberg Personal Finance Magazine, and an associate editor and contributor for Bloomberg Markets Magazine. In 2005, he joined SEI Investments as director of investment communications within SEI's Investment Management Unit.

  Jon is also the founder of the Cheap Stocks Web site, a site dedicated to deep-value investing. He has an undergraduate degree from Grove City College and an MBA from Rider University, where he has also served on the adjunct faculty; he is also a CFA charter holder.

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