The youngster turned 18 earlier this month but negotiations over his first senior deal have yet to reach a conclusion over wage demands, and other clubs are closely monitoring the situation.
Manager Brendan Rodgers remains confident an agreement will be reached and Comolli, who was at Anfield when Sterling broke into the first team under former boss Kenny Dalglish, advised the player to stay put.
"My advice would be sign the contract and stay at Liverpool unless there is something which makes him really uncomfortable," said the Frenchman.
"We tried to look after Raheem as much as we could - he was really a long-term project - and I think he should commit.
"I really don't think money should be an issue. He is 18 and it is going to be one of many contracts he is going to sign and he is going to end up being a wealthy individual.
"The important contract, if you are money-orientated, is the one you sign when you are 31 not 18."
- Sports & Recreation
- Kenny Dalglish