Utilizing the individual U.S. pension plans/Carlos Pueblo

Utilizing the individual U.S. pension plans/Carlos Pueblo

In order to accumulate my own individual capital, I utilized the individual U.S. pension plans such as the individual retirement account, the HR-10 Keogh Plan, and the company's 401k Plan, etc. I do have another small company's defined benefit plan and an after tax annuity plan along with that 401k contribution. These pension plans have been very good to me and successfully made me financial independent. I used to sell mutual fund IRA to my customers to save money for the retirement and repeat it so often that I also pass it on to both of my children to get on the pension plans when they begin to work.

The U.S. Government encourage the citizen to save for their retirement by deferring their income tax until they withdraw the fund. This is how it works, you can deduct your annual contribution to the pension plans from your annual earned income and funds stayed in accounts without reporting any gain through out the growing period until you withdraw it from accounts. IRS shall take its share of the account by taxing you as that year's annual income. It is very fair and I believe the Government may come out ahead because in my case, I have more income than before my retirement.

U.S. politician understand that well prepared citizen at their retirement age will have no burden to the Government in the financial means. It will keep the society more stable and the government can focus more on helping the under privilege citizen which is the idea. It won't bother me if I am so called discriminated in the society if any. I am paying taxes to the federal and the local tax authorities while almost 50% of the population do not have to pay, at least those people can not discriminate me for any reason. I have mentioned so many times that I did borrow some money to cover the air fare from Honolulu, Hawaii to Auburn, Alabama.

I don't mind that people complain; however, we must attempt ourselves to improve our financial situation first by working, no matter how humble the job is, second by saving and investing, utilize the individual U.S. pension plans is an excellent vehicle which is agreed by almost everyone and practiced quite often in the society.