Prepare for a peaceful and happier life in your golden years with these 3 retirement funds that thousands of Vietnamese people in the United States are using.
Social Security is a widely popular program among the Vietnamese community living in the U.S. Currently, many elderly Vietnamese people are receiving retirement benefits from this program.
However, in recent times, many news outlets have reported financial difficulties facing the program, and future retirement benefits are expected to be significantly reduced.
So, will you receive retirement benefits in 10, 20, or 30 years when you retire? With the current U.S. national debt exceeding $28 trillion, the answer is “Yes, but not as much as now.”
So who will support you in your old age?
Invest in these 3 retirement programs for a better retirement income:
1: 401(k) Program – Retirement Fund for Employees
One of the biggest advantages of the 401(k) program is that most companies will match your contributions (employer match).
For example: if your annual salary is $50,000, and you contribute 6% of your salary, which is $3,000, to the 401(k) program, your company will also contribute an additional $3,000. You can contribute less than 6% (usually up to a maximum of 15% of your salary), but the company will not match contributions above 6%.
An important point to note is that the money you contribute to the 401(k) program is tax-deferred, so when you withdraw it for retirement, you will have to pay a significant amount of taxes and can only do so after reaching the age of 59.5.
2: Roth IRA Program – Individual Investment Fund
Roth IRA is an investment program for everyone, including those who work in nail salons, lawn care, plumbing, and more, allowing them to save for retirement.
One thing to note about this program is that when you contribute money to your account, you do not get a tax deduction when filing your taxes. If you withdraw money before the age of 59.5, you will have to pay a 10% penalty along with federal and state taxes.
Furthermore, this program only allows you to contribute a maximum of $5,500 per year for those under 50 and $6,500 for those over 50. This contribution limit may change over time to adjust for inflation.
Imagine if you invest in a Roth IRA at the age of 35; after more than 20 years, that amount may still not be usable.
3: IUL Secrets Program
If you are still looking for a retirement fund that nail technicians, nail salon owners, business owners, or anyone can join without penalties for early withdrawals before the age of 59.5, then consider exploring the IUL Secrets program.
- Join with just $5-$10 per day
- Earn potential returns up to 12.5%, with no losses no matter what happens.
- Withdrawals are tax-free
- Comes with health protection benefits up to the age of 120
- Enjoy a worry-free retirement
One notable feature of the IUL Secrets program is that the healthier you are, the lower the participation fees, and the more benefits you receive. So now is the best time for you to join the program and prepare for a comfortable retirement.
Why do you always set aside money for your favorite purse, dream car, or trips with friends, but hesitate to save for old age – a time when you can’t earn money anymore and have to depend on others?
Learning about the IUL Secrets program is a way for you to not worry about your finances in old age, so you can enjoy a peaceful life with your descendants and finally live the life you’ve been longing for.
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For more information about insurance programs to protect your health and your family, you can watch additional videos on the Thinksmart Insurance YouTube channel or call 678-722-3447 for detailed and completely free consultation.
