You have to remember to tell all your relatives not to pass money on under the child's name, ... Anyone can blow up your plan.
More Quotes from Ron Pearson:They hadn't even gotten their first paychecks yet, ... My biggest thing was giving them a sense of reality and what costs would be. We outlined costs and a budget, and by the time we finished they said they could take maybe one vacation a year. They started to understand reality versus their dreams.
It's going to boil down to who lets him run track. He asked me once if anybody has ever won the Heisman Trophy and an Olympic gold medal.
He needs to maximize his savings for his own retirement as well as his daughter's education, yet his debt is absorbing 43 percent of his monthly income.
Even for middle-income and upper middle-income clients, when I tell them they are looking at sometimes half a million dollars or more they'll need to leave behind, they usually say they don't have it,
I won't even begin to work with a client until they have completed a letter of intent, which deals with your hopes and dreams for the child, ... I tell the mom, who is often the one who writes it up, that they should write it as if they were an angel on the shoulder of the designated caregiver. She should include everything she would whisper in their ear.
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