The roll over IRA/Carlos Pueblo

 The roll over IRA/Carlos Pueblo

Recently, I did run into a small procedure of the roll over IRA. One of my funding retirement accounts distributed automatically in August after I did all my requirement minimum distribution for 2022. This would increase my annual income; therefore, I sent that whole amount back to another retirement account for the roll over like that I didn't withdraw it at all. This is the way I have known it since my insurance sales time.

I did my Keogh Plan, HR-10 for the sole proprietorship pension plan to a roll over IRA to avoid the annual report of the plan value to IRA. I self direct such roll over IRA with some mutual funds investment mostly in high technology fields. The second company's 401k and annuity which I leave it with the company for their asset management. I also have some Roth IRA built up when I lost my regular job after 2001 with the help of two children at colleges to help to shield the roll over regular IRA to the Roth. Now, this is the third time that I practice such procedure in order to complete my tax planning.

I advise my two children what I know the best to save and invest. Savings for the retirement through various investments with the Federal sanction can shelter some income tax, of course, we pay it back when we retire like myself now. It is always better to pay more tax when we have enough money. I fully understand why the U.S. Government encourage their citizen to save through various retirement plans just point one out. Citizens of the U.S. have enough retirement funds will save the Federal Government very much budget to go to the welfare. In addition to that, it will create a more peaceful society. I think that I am living in a paradise now.