It may be tempting to invent income for a child, such as paying them to do the dishes, in order to qualify for a Roth IRA contribution. Don’t do it!
October, 2018:
Don’t Dismiss That “Small” Pension
Frequently, I’ll meet with clients to go over a retirement plan. As is typical, we look at current investments, account balances, Social Security, etc. Often these conversations revolve around distributions from retirement plans and cash flow planning to reduce the probability of portfolio failure, and ensuring an income stream that is congruent with the clients’ retirement goals. Sometimes clients will also have small pensions from their current or former employer and they will tell me that they are small, trivial, or not worth considering. Whenever I hear those words or something similar, I try to explain to the clients that however small or trivial, it’s still a guaranteed income stream that will last the rest of their lives in many cases. For example, I have seen clients think that a $150 monthly pension wasn’t a big deal. But when I present to them that there’s an amount for a “date […]
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Maintaining Your Resolve During Time of Uncertainty
Life is full of uncertainty and sometime unexpected events can cause us to overreact, make impulse decisions, and behave in a way that would otherwise run counter to our long-term goals, dreams, and habits. Surprise events such as a market crash, loss of a job, a spouse, divorce, or other traumatizing events can have the effect of instilling apathy towards our goals and bring the temptation to deviate from our plans. The following are some ways to maintain resolve when life happens – and the urge to give up on goals is high. Review your plan and goals. Whatever the plan or goal, be it financial, life, occupational, etc., take a moment to review the goal you’ve created. If not yet in writing, write the goal down, quantify it, visualize it and remind yourself why it’s a goal in the first place. Picture yourself having achieved the goal. How do […]
Sterling Raskie, MSFS, CFP®, ChFC®
The latest in our Owner’s Manual series, A 401(k) Owner’s Manual, was published in January 2020 and is available on 
A Medicare Owner’s Manual, is updated with 2020 facts and figures. This manual is available on 
Social Security for the Suddenly Single can be found on Amazon at 
Sterling’s first book, Lose Weight Save Money, can be 
An IRA Owner’s Manual, 2nd Edition is available for purchase on Amazon. Click the link to choose the 
Jim’s book – A Social Security Owner’s Manual, is now available on Amazon. Click this link for the 
And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.