Author Archives: Peter Raskin

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About Peter Raskin

Peter A. Raskin is a Registered Investment Advisor & partner at Raskin Planning Group in Boston, Massachusetts.

EMAIL: Peter.Raskin@LFG.com

BIO: About Peter

PHONE: 617-728-7433

Develop a Culture of Charitable Giving in Your Family
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Authored by , re: FINANCIAL ARTICLES, Financial Planning & Insurance, on .

Planned philanthropy can be an honorable and selfless family tradition. We were recently talking to a client about their charitable intentions. They informed us that charity has always been an important part of their financial planning, but they have always done it quietly. They made it clear to us that they don't talk about their charitable contributions to their children or friends.

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5 Big Planning Mistakes to Avoid in 2015
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Authored by , re: FINANCIAL ARTICLES, Financial Planning & Insurance, on .
5 Big Planning Mistakes to Avoid in 2015 | Peter A. Raskin

{Time to Read: 5.5 minutes} As we start the 2015 calendar year, consider this list of behavioral mistakes to avoid. By avoiding these mistakes, you will have a much better chance of meeting your long-term financial objectives. Expect the unexpected, but don't be fearful of the unknown and paralyzed into inaction. Take appropriate risks. Is your glass half-full or half-empty? Neither approach is always appropriate.

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Yikes! My Long Term Care Insurance Premium Increased 90%! What do I do now?
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Authored by , re: FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Yikes! My Long Term Care Insurance Premium Increased 90%! | Peter A. Raskin

A colleague of mine recently asked me to help him with a unique client situation. Here is some background: Raskin Planning Group was asked to review a long term care insurance policy (LTCi) of the client. The insured, a Texas resident, was recently notified of a 90% rate increase. The client called his agent who sold him the LTCi policy and expressed his dissatisfaction. The agent heard the client's concerns and came up with a solution: replace the existing insurance with a new LTCi policy.

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6 Retirement Pitfalls to Avoid
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

Many of our clients have successfully accumulated large retirement account balances throughout their lifetimes. This was excellent planning on their part, as they deferred paying considerable income tax while they still had high taxable earned income. But the IRS doesn't want you to defer paying income taxes forever. They force you to start taking "Required Minimum Distributions" (RMDs) starting at the age of 70 1/2. These distributions are taxed as regular income. The RMD at age 70 is about 4% of the IRA account balance and this percentage increases each year based upon an IRS life expectancy table.

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It’s Flu Season: Does your financial plan need a shot in the arm?
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

Updating your financial plan is like an annual check-up with your doctor. You may feel good, but you just want to make sure the doctor agrees. The doctor asks you questions, performs some tests, gives you a flu shot, encourages you to eat healthy, exercise and, hopefully, sends you off until next year. While the medical check-up is mostly a passive event (at least for the patient), a Financial Planning Check-up is much more active and requires more from the client. Here is the information we recommend that you gather for your Financial Planning Check-up:

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Too Many Eggs in One Basket: 6 Strategies to Reduce the Risk of Excessive Exposure to a Single Stock
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

Some of our clients own, or have exposure to, very large single stock positions. For these clients, we ask the following questions:

  1. If this single stock falls dramatically in value, how will the loss affect your financial condition?
  2. How will you feel if this happens?
Most of the time, the financial loss would make a significant difference to our client's financial plans. We then ask why the stock hasn't been sold and their answers often reveal an emotional attachment to the stock. Maybe it was inherited or the client was an executive at the company; perhaps the client is hesitant to sell the stock because the stock has very low basis and the capital gains are significant—incurring a large capital gains tax.

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Where’s the Risk With Risk Tolerance?
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

In a recent conversation with a client, the word “risk” came up numerous times. The conversation began by discussing their goals and objectives, but as we continued our discussion, there seemed to be many inconsistencies in their thinking about risk and the current structure of their investment portfolio.

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Is the Roth IRA the Holy Grail of Retirement Planning?
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

A client with substantial IRA and 401(k) account balances recently asked if there was any way they could contribute to a Roth IRA. They had heard that Roth IRA's are great because earnings grow tax-free and there aren't any required minimum distributions starting at age 70 1/2. We agreed that they are great. But, maybe not for this client.

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Helping Children and Grandchildren Save for Retirement and Get Cash Back from the IRS
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

Recently, we were chatting with a client who is concerned that his under-employed college graduate child isn't able to contribute to a retirement plan. The client was always a great saver, understands the value of compound interest and wants the child to start saving now. Like a lot of twenty-somethings, the child is mostly self-supporting, but just doesn't have the additional funds to contribute to an IRA. Is there anything the parent can do?

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Annuities: The Good, the Bad and (maybe) the Ugly
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

We recently met with existing clients for a portfolio "checkup." The couple, in their mid-60's, is considering retirement in the next few years and has sufficient investments and retirement assets to meet their financial and family objectives. It is likely the clients will continue to be in the 28% or 33% federal marginal tax bracket during retirement because their taxable income is projected to be between $150,000 and $300,000.

  • They are interested in structuring their portfolio to emphasis current income, but they are becoming more concerned about the volatility and risk of the stock market.

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Are You Happy With Your Investment Portfolio Returns?
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

We encourage clients to stay with a strategy that is designed to help meet their long term goals:

  • Diversified strategies include different types of stocks and bonds that might not increase as much as the market.
  • Conversely, when markets are doing poorly, the value of the diversified portfolio may not decrease as much as the market.
  • Trying to time markets by buying low and selling high is very difficult to do successfully and consistently.

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The Raskin Planning Group Philosophy: Helping Clients Reach Their Goals
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Authored by , re: Asset Management, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

Financial planning means something different to every advisor and to every client. While some advisors focus on asset management, others focus on annuities and insurance products. Everyone is talking about something different. This creates confusion for the client, and a lack of confidence in the result. At Raskin Planning Group, financial planning starts with the client’s objectives. We start with a plan - your plan. You need to know where you want to go before you can start the journey. While it is not essential to know every detail along the way, you should have a general idea about which direction you would like to take.  

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