Stephen Covey

Contents:

1. Greetings from Roberta
2. 10 Powerful Tax Tips
3. Upcoming Events

Greetings from Roberta

Just Get Started – It’s exciting to have the New Year roll around again, isn’t it? What an opportunity to embrace the idea that you can once again make a fresh start and turn over a new leaf. I don’t know about you, but New Year resolutions are flying all around our home ranging from a determination to shed twenty pounds before Easter, getting up an hour earlier for an extra hour or opening an IRA. For me, it was determining to complete the book I started two years ago and beginning a Grandmother’s Legacy document for my grandchildren.

Hang in There – One of the primary deterrents to success in meeting and keeping those resolutions is giving up before you hardly begin. Here’s what happens. You begin like a house on fire; let’s say with your diet. A week later yield to temptation at the coffee cake counter while waiting for your Starbuck’s. So, you give up, right? No, you don’t have to give up. The secret to success (which is no secret now) is if and when this happens, pull yourself together, brush yourself off, straighten out your halo and begin again the next morning or the next moment. Remember, success is never certain, but thankfully neither is failure final!

Chance to Start Over – What I suggest is to live in “day tight compartments”. Today is the only day over which you have control – not the thirty more out there before Easter. In fact, this moment is all you have. What you do, right now at this moment in terms of keeping your resolution is most important. You meet and keep your commitments one day, one moment at a time. I encourage you to wrap your mind around the following thought “each new day is the beginning of the rest of your life”. So, when you wake up tomorrow morning, you can rejoice in the knowledge that each “new day” is equivalent to a brand “New Year”, a beginning expressly and customized specifically just for YOU.

This January Newsletter includes 10 Powerful Tax Tips contributed by Tom Anderson, President of Pensco Trust Company. There are several ideas you can implement even though 12/31/07 is history so don’t miss out. Also, check out the Article page on www.sellerloans.com
where you will find an excellent article by Tom entitled, “A new Twist on Mortgage Notes”. Click Here to see the article.

Remember, if you purchase note Trust Deeds in your Retirement Plan that it is not appropriate to deposit payments into your personal bank account and then cut a check to the retirement account or pay expenses personally and then seek reimbursement from your plan. That’s where the NOTE SERVICING CENTER enters “stage left”. As a qualified servicing center, we’ve been taking care of this administrivia for clients since 1984 – efficiently, accurately and affordably.

Please take a look at one of the best articles I have read recently written by Bill Mencarow, President of the Paper Source Online, entitled “The Root of the Sub-Prime mess which outlines the causes of the Sub-prime Mortgage fiasco as well as the affect this model is having had on the long and short term Wall Street Investors. By the way, Bill’s website www.PaperSourceOnline.com
is just chuck full of great information particularly for the new note consultant, as well as those who are interested in building a note business. The statistical information introducing the article is a shocking eye opener. You can find the article by clicking here

Blessings and our best wished for a successful, profitable, peaceful and Happy New Year – as well as Today, the first day of the rest of your life.

“10 Powerful Tax Tips” contributed by Tom Anderson

1. Learn about the new Solo Roth 401(k). Great for self-employed professionals!
   If you are a sole proprietor or are self-employed, you are now eligible to open a solo Roth 401(k) and put up to $15,500 in after-tax earnings into it that will grow tax-free thereafter. You must establish your account and fund it for 2007 by December 31, 2007.
2. Maximize your IRA & and your 401(k) contributions. In order to maximize the power of tax-deferred growth on any earnings, it is best to make your 2007 contribution before year-end and your 2008 contribution as soon as you’ve earned sufficient income in 2008.
3. Consider converting to a Roth IRA if you are eligible.
4. Create your own pension plan for 2006 if you are self-employed.
5. If you are over 70.5, remember to take your required minimum distribution from your traditional IRA. Failure to do so results in a penalty of 50% of the amount of any excess accumulation in your account.
6. Buy Pat Rice’s “IRA Wealth” book as a gift to learn more about investing in alternative assets with an IRA. His second Edition is now out.
7. Get your children started saving! Forget toys and open Roth IRAs for your children and grandchildren. Open Education Savings Accounts for your children and grandchildren.
8. Rollover and consolidate your pension plans and IRAs. Consolidation improves your ability to manage and allocate your assets and minimizes the number of accounts and institutions you have to deal with.
9. Review your asset allocations. Perform an annual checkup on your holdings to be sure your invested where you want and adequately diversified. Remember you can contribute up to $100,000 from your IRA to a qualified charity without tax and 1040 reporting.
10. Remove any excess contributions by April 15th, 2008 to avoid an excess contribution penalty of 6%.

Don’t delay—do these today and your retirement savings will reward you!
P.S. Ask your employer to consider the Roth option for your company’s 401(k)

You may go to Pensco Trust Company by clicking here

Great News

Go to www.sellerloans.com
for more great ideas and information.
If you have an account with us contact Pam
to view your account on line.
You can also view your account online by clicking here