Another successful story of a immigrant family/Carlos Pueblo
Yesterday,
Amy gave me her phone for a call from Mrs. Chen about the Mandatory
Requirement of
Distribution of her pension funds. Her question is about the amount
of minimum
requirement be transferred from pension account to a regular account
in stock shares
instead of cash because she likes the mutual fund which has performed
so well,
400% increase for the past 17 years, and she doesn’t need the fund. She is
still
working full time and withdraws social security benefit. I am so happy for her
and
I like very
much to write about her family’s successful story of immigration to this
great nation.
I got
acquaintance with her husband, Mr. Chen a Ph.D. scientist, at Johnson Space
Center
during my three tenure of a subcontractor’s job at the Clear Lake City. He
came to me
for one of his pension plan from a previous contractor with JSC. I placed
it under a
rollover IRA with the company which I was working at the time. The fund
has passed
on to his widow, Mrs. Chen, after his death short after. I did some of her
IRA during
those years thereafter with the same fund and another company’s fund
after I left
the original company. She told me the original investment was about
$50,000 and
grew up to $200,000.
After her
husband’s death, she started working at a department store near by her
home and
continually till now. That makes her days occupied especially both of
her
daughters are far away from Houston, one in Portland, Oregon as a physician
and the
second daughter in San Francisco as a business consultant both married
with
children. Recently, I have issued a flood policy for her upon her request and
each time
she calls, I have had a very good conversation with her and understand
that she is
doing very well by her financial independence.
My
definition of a successful immigrant is very simple, by reaching to a financial
independence
of a family without depending welfare resented by some American;
a successful
second generation for their achievement better off than their parents,
and the
contribution to the new nation eventually and that is a meaningful
immigration.
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