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RETIREMENT PLAN INVESTOR
Use your plan ID (available on your account statement) to determine which employer-sponsored retirement plan website to use:
IF YOUR PLAN ID BEGINS WITH IRK, BRK, 1 OR 2
Visit americanfunds.com/retire
IF YOUR PLAN ID BEGINS WITH 34 OR 135
American Funds Investors
Right after law school, investor Patricia Hernandez-Edelstein was encouraged to find a financial professional and start investing in her future. Marriage and children presented additional considerations as Patricia started 529 plans. And, when she opened her own law firm, Patricia’s financial professional helped her start SEP plans for her employees.
Recorded January 2013
Patricia Hernandez-Edelstein: When I got back from law school, dad sat down with me and he said, mija — which means my daughter — you need to talk to an investment firm and you need to start putting money away for your future. I really didn’t have it on the forefront of my mind, to be honest with you. I was more worried about my student loans and trying to make a good impression at the new law firm that I was working at.
But my dad really was a motivator and pushed me to make sure that I thought about these things. Basically what’s happened is we’ve come full circle. My husband and I know it’s very important that we instill these same values in our children.
When I initially decided to open up my own practice and hang my own shingle, I was terrified. And again, going back to my dad, he didn’t like the idea. He had always worked for someone his entire life — he had never owned his own business. I think he was very worried that this was a big risk that I was going to be taking, going out on my own. And I thought, well, I’m going to go ahead and take that risk. I’m young, and I had enough confidence in myself that I thought, I can do this.
I think initially when I first started investing and first started saving for retirement, I was thinking of just myself at that point. Once I got married and we had children, the picture grew, and I started thinking, we better start putting money aside for these kids and their college education, ‘cause it’s expensive. So we set up 529 plans and we’ve been contributing to those plans as well for several years.
Now that I own my own firm and I have employees of my own, I wanted to do what I could within my financial means. So my financial advisor and my accountant advised me and told me about the SEP plan. They explained it to me and it took a couple of times to understand the whole concept about SEP, but it sounded pretty good and it meant that I could invest money for my employees, I could set money aside for them — because I really love my employees. We’re like a family. So I wanted to make sure that they were taken care of.
You know, I don’t really think I’m really ever going to retire. I think if I retire, or if you use the word retire, I’ll still be busy doing other things.
We’re a very close-knit family. I love spending time with my children and my husband. We enjoy traveling together, and just spending time together, just being together as a family. I guess when you’re married, that’s pretty much what it’s all about, is family. Your world becomes much bigger than yourself.
We believe in the value of professional guidance. That’s why American Funds are sold through financial professionals.
If you don’t have a financial professional, we’ll be glad to help you find one in your area. Use our Advisor Locator.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund , which can be obtained from a financial professional and should be read carefully before investing.
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and should not be considered advice, an endorsement or a recommendation.
This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.
Past results are not predictive of results in future periods.