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I am self-employed, and several years ago opened a Keogh acct. through a financial planner. It is in The American Funds Group , through the Investment Co. of America. It's a profit sharing plan, which reinvests dividends and capital gains. It has had a 26.77% annual return rate.

That all sounded intelligent. My questions are very basic, since I opened this on fin. planner's advice and really understood little at that time.

1) What is a Keogh, exactly? (I told you, very basic questions...!)

2) Why have a Keogh and IRA...to be able to put more away for retirement every year?

3) 26.77% sounds good to me.
Am I missing something faulty here?

4) When is this taxed? Are the capital gains taxed every year? What happens when I reach retirement age?

5) Any other insights about this?

I called the trust company this is handled with, and they said they couldn't tell me any answers to these questions, that they only answer specific acct. info questions...that I need a financial advisor. I said I am trying to learn to be my own and don't want to work with same fin. planner anymore. That person still gets 'trailer fees' from Investment Co. of America even though that money doesn't come from my money. I can switch to new broker for free, though. Thanks in advance. meowiz
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