The President says he wants to be able to help more Americans save for retirement through the My-RA.
He says the director of treasury will create a new retirement savings that will allow people to create a nest egg.
Obama says My RA will guarantee a decent return without risking what you put in.
Financial adviser Joe Schember says regardless of how you save, starting to put money aside for retirement at an early age is the best idea.
President Obama says offering every American the chance to have an IRA on the job, so they can start to save, would be ideal.