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Peter G. Raeth  Contact

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Here are a few key suggestions that I would offer as one plans lifecycle finances. I am not a financial advisor just a research engineer who has had some insights. These suggestions appeared in the Dayton Daily News, Life Section, page 9, on May 19, 2008.
  • Recognize the vast difference between needs and wants lest you become a slave to debt. Be excessive in satisfying your wants and you will always be poor, perpetually unable to do the things you really enjoy. Your financial foundation must be firm before you can enjoy retirement.

  • Seek advice from a good fee-based certified financial advisor. Do your due-diligence before selecting such an advisor.

  • Use insurance wisely to cover unexpected events. Important categories of insurance are: health, life, disability, auto, possessions, home.

  • Have all major debts paid by age 55. Pay minor debts monthly. Use credit cards only for convenience. Do not carry credit-card debt.

  • Time is your friend. Prepare ahead for retirement. Put a plan in place, follow your plan, and review your plan annually. The earlier you begin the better. To earn a good retirement, establish a productive career based on a strong performance ethic early in life (study, learn, work, produce).

See my briefing on this topic.


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