Douglas Goldstein | CFP� | Profile Investment Services

Shows

Goldstein on GeltReceiving an Unexpected Inheritance in Retirement We all wish that one day we’ll get a call that a distant family member, who lived a long and happy life, left us a large inheritance. What would you do if you inherited a substantial sum unexpectedly? The financial decisions that follow such an event are crucial. Join Goldstein On Gelt host, Douglas Goldstein, CFP® and discover some considerations for managing newfound wealth in retirement, including the balance between capital growth of the inheritance and preservation, generating a steady income, and reducing risk. Learn some cri...2024-05-1609 min

Goldstein on GeltHow to Turn Spending Money Into an Educational ExperienceSpending money can be an educational experience. Joe Saul-Sehy, host of the Stacking Benjamins podcast, and Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., discuss how to turn a shopping trip into an enjoyable personal finance lesson. Find out how to teach your kids how to make better choices about spending money. Should you ask a financial advisor for references? When a professional provides client references, will you get an objective opinion? Douglas Goldstein, CFP®, explains what you need to look for when choosing a financial advisor. Learn why references may not be the best benchmark for excellence, an...2020-02-2018 min

Goldstein on GeltHave Millennials Lost Faith in the Financial System?Did growing up during the 2008 recession cause millennials to distrust the financial system? Millennial financial expert Amanda Abella, author of Make Money Your Honey, discusses the unique issues facing millennials with Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd. Why do so many young people have financial fears? How can they overcome them and begin investing? Find out what millennials need to know in order to plan for the future. Don’t use email for financial transactions Emails and other quick forms of messaging leave open the possibility of miscommunication. Douglas Goldstein, CFP...2020-02-1324 min

Goldstein on GeltWhy Getting the Right Investment Advice is ImportantGood investment advice reflects the big picture, taking into account an investor’s goals. Eric and Wendy Nissan, co-founders of DIY.FUND, discuss with Douglas Goldstein, CFP®, why investors – and their advisors -- need a holistic approach to managing money. Find out why practicing trading with investment simulation games won’t help you deal with the reality of working with the financial markets. What is the hardest part of personal finance? The hardest part of investing is not being able to predict the future. The easy part is the paperwork. Douglas Goldstein, CFP®, explains how technology is making f...2020-01-3021 min

Goldstein on GeltLife Expectancy Alert: Is Outliving Your Money a Justified Fear?As life expectancy continues to increase, what can you do to make your money last longer? Douglas Goldstein, CFP®, cross-border investment advisor, speaks with Steve Vernon, researcher at the Stanford Center for Longevity and author of Money for Life: Turn Your IRA and 401(k) Into a Lifetime Retirement Paycheck and Recession-Proof Your Retirement Years. Get an overview of the various long-term income options available to you when you retire. Three things to do in 2017 to become financially secure Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., shares three simple steps that you can...2020-01-1620 min

Goldstein on GeltWhy Time is Money: How Wasting Time Affects Your WalletAs time is a valuable commodity, why do people undervalue it? Roger Whitney, CFP®, host of The Retirement Answer Man podcast, discusses the connection between saving time and saving money. Find out why spending hours just to save a few dollars can cost a fortune in the long run. Is it fair to say investing in stocks is like gambling? Financial planner Douglas Goldstein, CFP®, and guest co-host Linda P. Jones, host of the Be Wealthy and Smart podcast, talk about placing bets, beating the odds, the stock market, and gambling. What is the best way to increase your od...2020-01-0918 min

4-Minute Money IdeasDoes Investor Bias Make You Underperform the Market?Does Investor Bias Make You Underperform the Market? By Douglas Goldstein CFP® - helping olim handle their U.S. investments from Israel A friend recently had a losing streak at the casino. Instead of walking away, he played more hands of blackjack. “I was determined to win,” he lamented. In fact, he was playing to recoup his losses. He was a victim of investment biases subconsciously affecting his decision-making. Gambler’s Fallacy – the belief that after a streak of losses his luck would turn – duped him into doubling his losses. A recent study of Ma...2017-09-2803 min

4-Minute Money IdeasShould You Follow Investment Trends or Bet against the Masses?Should You Follow Investment Trends or Bet against the Masses? By Douglas Goldstein CFP® - helping olim handle their U.S. investments from Israel Today, many “investment trend” websites are enticing online traders to join. Investors who follow the trend – also known as “momentum trading” – invest in stocks based on rising market prices rather than company fundamentals. The strategy of following the investment trend performs best in a bull market. However, selling before the trend reverses is a skill that eludes most investors. When many investors buy the same stock, the market price can rise abov...2017-09-2503 min

4-Minute Money IdeasDo You Look at the Risk-Reward Ratio of Your Stocks and Bonds?Do You Look at the Risk-Reward Ratio of Your Stocks and Bonds? By Douglas Goldstein CFP® - helping olim handle their U.S. investments from Israel The risk-reward ratio is an attempt to quantify the amount of risk you need to take in order to get an anticipated return from any investment. If you were to only consider past returns when deciding whether to invest in stocks or bonds, stocks would appear to be the clear winner. From 2007 to 2016, stocks had an average annual return of 9% versus about 5% for 10-year U.S. Treasury b...2017-09-1403 min

4-Minute Money IdeasCan Optimism Increase Your Investment Returns?Can Optimism Increase Your Investment Returns? By Douglas Goldstein CFP® - helping olim handle their U.S. investments from Israel Are your investment returns determined by your worldview? Are people hardwired to be pessimists? Millions of years ago, if an optimistic caveman dismissed a rustle in a bush as the wind blowing, our ancestor may have ended up as a tiger’s lunch. As a result of this early conditioning, the part of our brain called the amygdala scans everything we see and hear for negative news. But according to Dr. Pet...2017-09-0703 min

4-Minute Money IdeasHow to Safely Boost Returns in a Low Interest Rate EnvironmentHow to Safely Boost Returns in a Low Interest Rate Environment By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel To the dismay of yield-seeking investors, interest rates remain at historic lows. Although rates on long-term bonds may begin to inch up, analysts generally expect that we may remain in a low-interest-rate environment for a while longer. So, what are income investors to do? It is important to understand the risks of reaching for higher yields and realize there may be less risky ways to increase income. It’s all...2017-08-3103 min

4-Minute Money IdeasSecrets to a Financially Strong MarriageSecrets to a Financially Strong Marriage By Douglas Goldstein, CFP® - helping you handle your American investments Displayed prominently in our living room is a list titled, “Abba’s Secrets to Success” Now, as my oldest daughter is about to get married, I’ve compiled “Abba’s Secrets to a Financially Secure Marriage” for her and her groom. With their permission, I’d like to share it with you: 1. Be completely honest – Open communication is better than financial infidelity. Hidden spending not only damages your future goals but erodes trust. Discuss money regularly, not just when you h...2017-08-2403 min

4-Minute Money IdeasDo You Have to Stop Working When You Reach Retirement Age?Do You Have to Stop Working When You Reach Retirement Age? By Douglas Goldstein CFP® - helping olim handle their U.S. investments from Israel Does reaching retirement age mean you have to stop working? In Israel, the official retirement age for a man is 67. For women, it fluctuates between 60 and 62, depending on date of birth. Retirees until the age of 70 (or 69 for a woman born before 1950), are eligible for a state pension, but entitlement is affected by additional sources of income. From 70 onwards, a state pension is given regardless o...2017-08-1702 min

4-Minute Money IdeasHow to Prepare for the Next Stock Market CrashHow to Prepare for the Next Stock Market Crash By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel Over the past several years, the market has climbed to historic highs, prompting analysts to sound the alarm over the next stock market crash. While I can’t say when the next crash will occur, I can say it’s reasonable to assume that there will be another stock market drop at some point. How can you prepare for it? Market crashes are inevitable Crashes are more about the s...2017-08-1002 min

4-Minute Money IdeasDebunking 3 Myths about not Needing an Emergency FundDebunking 3 Myths About Not Needing an Emergency Fund By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel One of the most fundamental principles of financial planning is to prepare for the unexpected by keeping three to six months’ worth of living expenses in an emergency fund. The trouble is many people succumb to the myth that emergency funds aren’t necessary because you can always withdraw from savings. Here are 3 myths about emergency funds and why they are wrong: The best place to keep an emergency fund is in your...2017-08-0303 min

4-Minute Money IdeasShort on Retirement Savings? Here’s What You Need to DoShort on Retirement Savings? Here’s What You Need to Do By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel More than 10,000 baby boomers cross the retirement threshold every day, and nearly one in four of them of haven’t saved enough to retire comfortably. If you’ve reached that point and realize your retirement savings won’t last your lifetime, it’s time to have an uncomfortable conversation with a financial advisor because there are several things that need to be done. But it all starts with having a plan. 2017-07-2703 min

4-Minute Money IdeasHow to Keep Financial Harmony in Your MarriageHow to Keep Financial Harmony in Your Marriage By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel What’s the best way to achieve financial harmony in a marriage? When two people get married, they don’t only join their lives together, but also their money. If differences in money attitudes and practices are not addressed early on, people can become set in their ways, making it more difficult to overcome any disagreements. However, where there is love, there are also ways to heal the financial divide. Fin...2017-07-2003 min

4-Minute Money IdeasWhat You Should Know About Low-Risk InvestmentsWhat You Should Know About Low-Risk Investments By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel Recently, a new client told me that his portfolio mostly contained low-risk investments. When I saw that the majority of his investments were mutual funds, I asked him why he believed mutual funds were “low-risk,” as his funds contained stocks. What he was missing was the mutual funds contained stocks which are risky, so even though the funds were diversified, he was exposed to a lot of risk. What is a low...2017-07-1302 min

4-Minute Money IdeasCan I Safely Withdraw Principal in Retirement?Can I Safely Withdraw My Principal in Retirement? By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel As a cross-border financial advisor, one question I hear nearly every day is, “Can I afford to withdraw my principal in retirement?” For most of my clients, the short answer is, yes, but it is important to know how much and from which accounts you can dip into your principal. When withdrawal is part of a strategy The financial planning industry’s “4 Percent Rule” is commonly applied in determining how much princi...2017-07-0603 min

4-Minute Money IdeasHow to Invest When You Can’t Predict Market DirectionHow to Invest When You Can’t Predict Market Direction By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel If you’re thinking of investing in stocks but you’re concerned about which direction the stock market will move, here’s what you need to know: If you are a new investor with a long-term perspective, it shouldn’t matter which direction the stock market moves in the short term. What you should know is that a bull market (up market) generally follows a bear (down) market. On average, be...2017-06-2902 min

4-Minute Money IdeasWhy You Need to Talk to Your Adult Children About Your FinancesWhy You Need to Talk to Your Adult Children about Your Finances By Douglas Goldstein CFP® - helping olim handle their U.S. investments from Israel Do you find it difficult to discuss with your adult children what should happen with your finances towards the end of your life? If so, you’re not alone. People don’t like thinking about their own mortality or losing control. Moreover, as family relationships aren’t always easy, discussing issues such as power of attorney, healthcare proxies, and estate planning can get very co...2017-06-2203 min

4-Minute Money IdeasSteps You Need to Take 5 Years before RetirementSteps You Need to Take 5 Years before Retirement By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel Will you have “enough” money to live comfortably? The months and years before retirement may be filled with trepidation and financial worries. In order to minimize financial concerns before retirement, here are some steps you should take in the five years leading up to it: Organize your assets for tax efficiency Most retirees underestimate the impact taxes will have on their retirement income. If you have an idea of what your...2017-06-1503 min

4-Minute Money IdeasHow to Choose the Right Financial Advisor for YouHow to Choose the Right Financial Advisor for You By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel Choosing the right financial advisor can be like seeking the right life partner. Your financial advisor needs to be the perfect match for you and your situation. Your advisor must be knowledgeable, honest, reliable, and, most importantly, have your best interests in mind. There are many financial professionals, who all offer a range of services and expertise. How should you choose? When considering whether to work with a...2017-06-0802 min

4-Minute Money IdeasWhat You Need to Know About Rolling Your 401(k) to an IRAWhat You Need to Know About Rolling Your 401(k) to an IRA By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel When you change jobs, everything you need to take with you can be neatly packed into a box – except your retirement plan. When you leave your job, you need to think about rolling your 401(k) into an IRA (Individual Retirement Account). If you left your job to make aliya, this question becomes even more crucial, as cross-border financial regulations come into play with keeping the tax-beneficial status of...2017-05-2503 min

4-Minute Money IdeasHow to Make a Good Investment DecisionHow to Make a Good Investment Decision By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel Since one person’s good investment choice may be a huge mistake for someone else, what factors should you consider when deciding upon a potential investment? In investing, the only hard and fast rule is that past performance never guarantees future returns. Though you should try to understand why a security acted in a specific way in the past, the most important thing you can do is make sound dec...2017-05-1803 min

4-Minute Money IdeasWhy You Need to Build an Emergency FundWhy You Need to Build an Emergency Fund By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel What would happen if you had an emergency – like a huge dental bill or unexpected car repair? And even worse, what if you had lost your job a month before and couldn’t even get an interview for a new one? To top it off, you get a call that a close relative in the States is sick and you desperately want to fly in to help. Do you have cash available to pay, or wo...2017-05-0403 min

4-Minute Money IdeasThe Things Not to Do With an InheritanceThe Things Not to Do With an Inheritance By Douglas Goldstein, CFP® - helping olim handle their U.S. investments from Israel When you get an inheritance, your first question may be, “What should I do now?” But perhaps a better question is “What shouldn’t I do now?” An emotional rollercoaster Getting an inheritance arouses many emotions. Sometimes, people get too excited and they spend all the money without thinking about the best uses for it. Others feel uncertain that they know how to manage the wealth they just r...2017-04-2703 min

4-Minute Money IdeasHow Can You Increase Your Retirement Income?How Can You Increase Your Retirement Income? By Douglas Goldstein, CFP® - helping olim handle their U.S. investments from Israel How can you increase your retirement income and avoid risk? That’s tricky, and a lot of folks simply opt to put their money in the bank. But the good news is that there are other options, aside from the bank, for reducing risk and generating more retirement income. While banks present a lower risk than the markets, bank deposits historically have low yields. This is very significant in retirement because you need sufficient income fro...2017-04-2003 min

4-Minute Money IdeasWhat Happens to Your U.S. Brokerage Account When You Leave America?What Happens to Your U.S. Brokerage Account When You Leave America? By Douglas Goldstein, CFP® - helping olim handle their U.S. investments from Israel The good news is that if you are an American expat, or you are not a U.S. citizen at all, you can still benefit from having a U.S. brokerage account. (For more information about managing your American brokerage account from abroad, download the Profile Toolkit.) Why have an American brokerage account? There are many reasons to keep your investments inside a U.S. brokerage account. These include: t...2017-04-1302 min

4-Minute Money IdeasAre Foreign Investments Good for Your Retirement Plan?Are Foreign Investments Good for Your Retirement Plan? By Douglas Goldstein, CFP® - helping olim handle their U.S. investments from Israel Do you want to minimize risk in your retirement accounts? If so, consider diversifying your holdings to include foreign investments. Investing internationally may boost your returns and minimize risk, as you’re “geographically diversified” and not relying on any single country’s economic performance. Geographic diversification can be achieved by buying foreign stocks, ETFs, mutual funds, REITs, and foreign corporate and/governmental bonds. Saving your pension in one country and keeping your assets in another c...2017-04-0603 min

4-Minute Money IdeasWhy Money Transfers Aren’t as Easy as They Used to BeWhy Money Transfers Aren’t as Easy as They Used to Be By Douglas Goldstein, CFP®, - helping olim handle U.S. brokerage accounts, including IRS, from Israel If you attempted a money transfer recently, you may have been surprised at the amount of documentation you were asked to provide. Any financial institution can ask for proof as to why you’re moving money. They do this to make sure that they are in compliance with anti-money-laundering regulations. Even law-abiding citizens may need to submit extra proof when they want to trans...2017-03-0202 min

Goldstein on GeltCan Financial Forecasting Predict the Best Investments?Many investors use “financial forecasting” and base their investment strategy on what they think might happen in the markets. Is that a good idea? Roger Whitney, CFP®, host of The Retirement Answer Man podcast, and Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., discuss the problems with choosing investments based on predictions of what might be. Learn the difference between assumptions and forecasts and find out what you should look for in both the short and long term. Should you buy bonds if interest rates go up? What happens to bonds when interest rates rise? Watch an eight...2017-03-0124 min

4-Minute Money IdeasCan Bonds Increase Income from Your Investment Portfolio?Can Bonds Increase Income from Your Investment Portfolio? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel A retired widow met with me last week to discuss how to increase income from her investment portfolio. I reviewed her account and made some suggestions for restructuring her investments to get predictable income. We spoke a lot about bonds. Here’s why: Bonds pay a set amount on a fixed schedule, so if you are looking for predictable income, bonds may work for you. A bond...2017-02-2303 min

Goldstein on GeltHow to Use Social Media to Predict Market TrendsMarket trends are often reflected in indices, like the Dow Jones Index or the S&P 500. But what about an index based on social media? Douglas Goldstein, CFP®, a financial advisor specializing in cross-border investments, discusses the BUZZ Index, an index based on social media statistics, with its founder, Jamie Wise. Find out how the BUZZ Index works and why people may be more inclined to tell the truth on social media platforms than in polls. Why you and your spouse need to talk about money Douglas Goldstein, CFP®, discusses the importance of communicating with your spouse about mo...2017-02-2226 min

Goldstein on GeltIs the Solution to Child Poverty to Give Away Money?Why did Bituach Leumi decide to give Israeli children free money? Douglas Goldstein, CFP®, a licensed investment advisor who helps people meet their savings goals, speaks with Professor John Gal, chair of the Social Welfare Policy program at the Taub Center, about the program to alleviate child poverty. Professor Gal discusses how the program works and whether it will be successful in giving children a head start in life. Will the new program encourage increased savings? For an article about the tax implications of the Bituach Leumi program for U.S. citizens, click here. To read an article, w...2017-02-2231 min

Goldstein on GeltIs There a Better Way to Use Your Credit Card?Douglas Goldstein, CFP®, a financial advisor who helps Americans living in Israel manage their investments, discusses the benefits and risks of using a credit card with Jason Steele, an expert in the credit card industry. Find out how credit cards really work, and who benefits from your credit card purchases. Can consumers benefit from points and reward schemes without falling into debt? Will the Trump Administration cause the markets to crash? Now that President Trump is Commander in Chief, we can expect many changes to government policies and taxation. Douglas Goldstein, CFP®, explores the differences between fiscal and mo...2017-02-2128 min

4-Minute Money IdeasThe Best Way to Update Investments in an Inherited IRAThe Best Way to Update Investments in an Inherited IRA By Douglas Goldstein, CFP®, - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel If you inherit an IRA (Individual Retirement Account), you must be aware of the regulations concerning transferring the account to you, the “beneficiary.” Apart from the technical requirements for processing the account, which a financial advisor should be able to handle, some people also feel a moral responsibility. When a client recently called me about an inherited IRA, he said, “I would like to sell some of the...2017-02-0203 min

4-Minute Money IdeasWhat Should You Do With Money in the Bank?What Should You Do With Money in the Bank? By Douglas Goldstein, CFP®, - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Recently, a couple asked me what they should do with their money in the bank. I hear this question quite often. However, as every individual investor’s situation and circumstances are different, there is no standard response that fits everyone. To figure out an answer for this particular couple, I asked: What’s the intended purpose of this money? The couple answere...2017-01-2602 min

4-Minute Money IdeasHow to Overcome the Challenges of Receiving an InheritanceHow to Overcome the Challenges of Receiving an Inheritance By Douglas Goldstein, CFP®, - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What would be your first reaction if you received an inheritance? When a client received an inheritance from her elderly aunt, she told me: “I thought she was going to leave everything to my cousin. I never imagined in my wildest dreams that any of it would come to me. Although the extra money will come in useful, I don’t know what to do with...2017-01-1903 min

4-Minute Money IdeasAvoid This Portfolio Management MistakeAvoid This Portfolio Management Mistake By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel At an initial meeting, a new retiree told me, “I’m not really sure what stocks I own.” When I asked how he had put together his portfolio, he explained that some of the positions came from an inheritance, while others… “Well, I’m not really sure,” and a couple of stocks were recommendations from “this guy who sits next to me in shul.” When I asked him if that guy still thinks they’re...2017-01-1203 min

4-Minute Money IdeasWhat Happens to Your Retirement Plans When You Make Aliya?What Happens to Your Retirement Plans When You Make Aliya? By Douglas Goldstein, CFP®, - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel As a Certified Financial PlannerTM sitting in Jerusalem, I work mostly with American immigrants who keep the majority of their assets in American investment accounts. When a recent oleh listed the various retirement plans that he held in the United States, he mentioned: Individual Retirement Account (IRA) 401(k) retirement plan from an old employer 403(b) plan from when he taught in a school. Although he...2017-01-0503 min

Goldstein on GeltWhy It's Important to Be a Disciplined InvestorBeing a disciplined investor is an important character trait of successful investors. Andrew Horowitz, CFP®, author of The Disciplined Investor: Essential Strategies for Success explains the necessity of self-discipline when investing. What is the best way to deal with media frenzy, risk, and drama in the markets? Being a disciplined investor is more than watching the markets. It also plays into how you discuss financial concerns with your spouse and teach money to your children. Show host Douglas Goldstein, CFP®, brings his wife, BatSheva Goldstein, to the show to discuss their personal strategies for financial discipline and what financial messages th...2016-12-3126 min

4-Minute Money Ideas4 Points to Remember at the End of the Financial Year4 Points to Remember at the End of the Financial Year By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel The end of the financial year is a good time to conduct an annual review of your financial situation. If your savings plan, or the market as a whole, has swerved off course, now is an opportune time to adjust accordingly. Saving goals Are your long-term and short-term goals the same as they were last year? If your goal...2016-12-0803 min

4-Minute Money IdeasWhat Happens When You File U.S. Taxes From Abroad?What Happens When You File U.S. Taxes From Abroad? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel American citizens living overseas often need to file U.S. taxes from abroad, even if they don’t owe any money. If you live in Israel, gathering the information you need to complete your taxes from Israeli banking and financial institutions can be tricky since foreign institutions don’t produce 1099 forms. So what is an American living abroad to do? Dangers of investi...2016-12-0103 min

4-Minute Money IdeasDid You Get an Unpleasant Surprise From Your Stateside Broker?Did You Get an Unpleasant Surprise From Your Stateside Broker? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel When your stateside broker sent you a surprise letter, did it contain good news? Many Americans in Israel (and non-Americans, too) have received a letter from their U.S. investment firm or bank informing them that they need to close out their account. In some cases, the brokerage firm does not shut down the account, but limits its services because the client no longer lives in th...2016-11-2403 min

4-Minute Money IdeasHow to Grow Your Money Twice as Fast: Save MoreHow to Grow Your Money Twice as Fast: Save More By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What’s the best way to save, and how much money should you save? As a panelist on the “Money Tree Investing Podcast,” I recently answered a question about how to invest monthly savings. Here’s what I advised: Save more Before discussing specific investment tactics, I suggested doubling the amount of money the listener was saving. My experience...2016-11-1703 min

4-Minute Money IdeasShould Your American Assets Stay in the United States?Should Your American Assets Stay in the United States? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel When making aliya, many olim move their American assets to Israel and convert all their dollars to shekels. However, there is a strong case to be made for leaving your dollars in America. Here’s why: Efficiency U.S. securities markets may still be the most efficient, and individual-investor friendly in the world. You can have a diversified basket of global assets within a “regular” U.S. bro...2016-10-2004 min

4-Minute Money IdeasWhy Gender Bias is a Good Thing in Financial PlanningWhy Gender Bias is a Good Thing in Financial Planning By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel One area where gender bias isn’t discussed enough is in financial planning. Financial planning for women must be different than for men. What do women need to know when planning their financial future? Women work fewer years than men Even though men are more involved with domestic duties than in previous generations, typically women take time off after childbirth more often tha...2016-10-1303 min

4-Minute Money IdeasIs Risk Management the Best Financial Strategy?Is Risk Management the Best Financial Strategy? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What is risk management, and how does it affect your investment decisions? Every investment is risky Every investment carries a chance of making a profit – and a risk of sustaining a loss. However, some investments are riskier than others. Generally speaking, the more profitable investments contain the most risk; if an investment can potentially make a high profit, it can also cause just as much of a los...2016-10-0603 min

4-Minute Money IdeasEstate Planning: What Happens to Your Money After You Die?Estate Planning: What Happens to Your Money After You Die? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel One of the most important issues in estate planning is what happens to your money after you die. How quickly your heirs receive the inheritance depends largely on your estate planning. (If you’re having any difficulties with an inheritance, please email me at doug@profile-financial.com.) 3 things to consider when planning your estate When setting up U.S. IRA and brokerage accounts for cli...2016-09-2903 min

4-Minute Money IdeasAvoid These Common Mistakes When You Receive an InheritanceAvoid These Common Mistakes When You Receive an Inheritance By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel A new client recently told me, “My late father left me an inheritance of an IRA (Individual Retirement Account) worth $1.5 million, and I’m the sole beneficiary. What should I do with it? If I bring the money to Israel, I’ll have to sell the stocks and wire the money to my account here. But if I do that, I’ll have to pay tax in the United States an...2016-09-1503 min

4-Minute Money IdeasA Guide to the Tax Implications of a Legal SettlementA Guide to the Tax Implications of a Legal Settlement By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel This is a two-part article addressing questions that arise when people receive lump sums. For the entire article, go to: www.profile-financial.com/settlement. I recently helped a number of people who are in the midst of receiving a cash settlement from a lawsuit, and had to point out that winning a lawsuit is not “free money.” In addition to having survived personal injury and a long...2016-09-0803 min

4-Minute Money IdeasDo U.S. Citizens in Israel Pay Tax to the IRS on a Legal Settlement?A Guide to the Tax Implications of a Legal Settlement By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel This is a two-part article addressing questions that arise when people receive lump sums. For the entire article, go to: www.profile-financial.com/settlement. I recently helped a number of people who are in the midst of receiving a cash settlement from a lawsuit, and had to point out that winning a lawsuit is not “free money.” In addition to having survived persona...2016-09-0103 min

4-Minute Money IdeasDid You Make a Mistake When You Opened Your Bank Account?Did You Make a Mistake When You Opened Your Bank Account? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What happened when you opened your first Israeli bank account after making aliya? A new oleh recently told me: “I just tried your online tool [www.profile-financial.com/olim] to find out what I need to know about having a U.S. brokerage account now that I’ve made aliya. But I think I made a mistake when I opened my new Israeli bank account.” H...2016-08-2503 min

4-Minute Money IdeasWhat You Need to Know About Premium BondsWhat You Need to Know About Premium Bonds By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Premium bonds may be a good investment choice for retirees looking to increase their income. (For solutions to other problems retirees face, download a free copy of The Retirement Planning Book at www.profile-financial.com/rpb.) Consider premium bonds In today’s low interest rate environment, if you park your money in bank deposits or money markets, the interest you receive generally will not be enough to...2016-08-1803 min

4-Minute Money IdeasThe Best Way to Invest When You Want to Gift MoneyThe Best Way to Invest When You Want to Gift Money By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Recently, a couple with four children of various ages asked me for advice on how to invest funds that they had just inherited. They didn’t need the inheritance for themselves, and they wanted to pass it along to their children. The couple’s oldest child was married and wanted to buy a house, so getting her share of the funds now made a lot of se...2016-08-1102 min

4-Minute Money IdeasWhy Interest Rate Risk is ImportantWhy Interest Rate Risk is Important By Douglas Goldstein, CFP® Conservative investors who buy bonds to avoid high risk might inadvertently be exposing themselves to a potentially devastating risk: interest rate risk. If you are concerned that you may have interest rate risk or other hidden risks in your investments, call my office at 02-624-2788 to discuss your portfolio. Are bonds safe? When you buy a bond, you lock in a specific interest rate that you'll earn until the bond matures. Assuming the issuer of the bond remains s...2016-08-0403 min

4-Minute Money IdeasWhat You Need to Know About Financial NewsWhat You Need to Know About Financial News By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Should financial news and media reports affect the way you make your investment decisions? Recently, a client said: “I just read about _________ (fill in Israeli company name) in The Jerusalem Post, and I’d like to buy 1000 shares.” I hear comments like this fairly often. Since I help people who live in Israel with their U.S.-based IRA and brokerage accounts, I am able to help them trade s...2016-07-2803 min

4-Minute Money IdeasHow to Increase Your Retirement Cash FlowHow to Increase Your Retirement Cash Flow By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel When you retire, your cash flow changes. Since most pensions won’t replace 100% of your pre-retirement income, you need other ways to increase your monthly cash flow. A bank may not meet your needs If you put your money in a regular savings account in the bank, you have little risk of losing your principal. But, you also will receive relatively low interest, as banks normally pay the...2016-07-2103 min

4-Minute Money IdeasWhat to Do When You Inherit an IRAWhat to Do When You Inherit an IRA? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel If you inherit an IRA (Individual Retirement Account), you may be tempted to simply withdraw the funds and put them into your own name. But if you do, you would possibly be making a big mistake. Instead, you should transfer the money into a “beneficiary IRA” account. Money in an IRA is tax deferred in America, meaning that any interest, dividends, and capital gains inside the account are not s...2016-07-1403 min

4-Minute Money IdeasDo You Need to Worry About a Market Crash?Do You Need to Worry About a Market Crash? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel No one knows if or when there will be another market crash. Anyone who could accurately predict the ups and downs of the market on a consistent basis would make an absolute fortune. Even if the market’s exact moves can’t be predicted, you can be sure that the market will take a hit sometime in the future. In fact, if you’re planning to hold investm...2016-07-0703 min

4-Minute Money IdeasHow Non-Americans Can Benefit from American Brokerage AccountsHow Non-Americans Can Benefit from American Brokerage Accounts By Douglas Goldstein, CFP®, helping people in Israel with their U.S. IRA and investment accounts This past week, my office phone rang several times with non-Americans inquiring about opening American brokerage accounts. Given the hassles of dealing in some of the more popular offshore jurisdictions, and given the many benefits of keeping investments in the United States, these people were happy to see how they could easily invest through a U.S. brokerage firm. Why non-Americans have American investment accounts There are two p...2016-06-3003 min

4-Minute Money IdeasWhat Should You Do About the FBAR?What Should You Do About the FBAR? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Whenever I mention the acronym FBAR, Americans often say one of two things: “F what??” or “I don’t need to do that.” What’s an FBAR? The “Report of Foreign Bank Accounts” (FBAR) is a required U.S. government form, which is important in the post-9/11 world. The purpose of the form is to alert the authorities about accounts held outside the United States with a total value...2016-06-2302 min

4-Minute Money IdeasIs Your Brokerage Account in Danger of Being Sold Out?Is Your Brokerage Account in Danger of Being Sold Out? By Douglas Goldstein, CFP® Imagine if your brokerage firm called you up and told you that they were going to sell out all of the positions in your brokerage account within the next 60 days. “Why?” you ask them. They respond that due to increasing regulatory restrictions they will no longer service your account. They give you two options: Transfer your assets to another financial institution, Distribute the assets directly to you. Believe it or not, many people in Israel are receiving such a call...2016-06-1603 min

4-Minute Money IdeasCan Your Israeli Bank Provide Investment Services?Can Your Israeli Bank Provide Investment Services? By Douglas Goldstein, CFP® Have you found that your Israeli bank no longer provides investment services for Americans living in Israel? Because if onerous reporting requirements to the American government, many Israeli banks have stopped opening investment accounts for U.S. citizens. While dual American-Israelis can continue with banking and checking services, they need to look elsewhere for their long-term investing. Where can Americans open investment accounts? If American firms turn away U.S. citizens with a foreign address and Israeli banks don’t o...2016-06-0903 min

4-Minute Money IdeasRead This Before You Transfer Your Money to IsraelRead This Before You Transfer Your Money to Israel By Douglas Goldstein, CFP® Making aliya doesn’t mean you need to close your American brokerage accounts. In fact, there are many sound reasons for maintaining assets in America even if you move away. Think twice before converting your American retirement accounts to shekels and bringing them to Israel. Recently, some American brokerage firms asked their non-resident clients to transfer out their accounts. To the shock of many clients in Israel, major firms decided to end long-term relationships with them. If this has happened to...2016-06-0203 min

4-Minute Money IdeasIs Financial Success Just a Matter of Luck?Is Financial Success Just a Matter of Luck? By Douglas Goldstein, CFP® Is financial success more about planning or luck? In the book Rich Kids, Tom Corley discusses three different kinds of luck: Random luck is the kind of luck we can’t control. Random good luck includes winning the lottery or getting an unexpected windfall. Conversely, examples of random bad luck include sudden illness or being struck by lightning. Opportunity luck is good luck created as a result of your actions. You can create good luck by following pos...2016-05-2603 min

4-Minute Money IdeasHow Modern Portfolio Theory Can Make You a Better InvestorHow Modern Portfolio Theory Can Make You a Better Investor By Douglas Goldstein, CFP® Can “Modern Portfolio Theory” increase your investment returns? Recently, on The Goldstein on Gelt Show, I spoke with the inventor of Modern Portfolio Theory, Nobel Prize in Economics winner, Dr. Harry Markowitz. Dr. Markowitz explained various aspects of Modern Portfolio Theory and its impact on the individual investor. His theory explains how to construct an investment portfolio by optimizing expected returns based on the level of market risk. The goal is to help investors construct portfolios to maxim...2016-05-0503 min

4-Minute Money IdeasAvoid Making This Mistake with an Inherited IRAAvoid Making This Mistake with an Inherited IRA By Douglas Goldstein, CFP® If you are the beneficiary of an inherited IRA, avoid immediately withdrawing the money. If you make an immediate withdrawal, you might forfeit the tax-deferred status of the account and be subject to paying taxes. A proper withdrawal strategy for an inherited IRA can minimize your tax bill. What you need to know when you inherit an IRA In an effort to encourage savings, America lets the assets inside an IRA account grow tax deferred – owners only pay tax onc...2016-04-2803 min

4-Minute Money IdeasHow to Avoid Tax Mistakes When You Receive an InheritanceHow to Avoid Tax Mistakes When You Receive an Inheritance By Douglas Goldstein, CFP® When receiving an inheritance, it’s important to avoid making tax mistakes. Certain tactics, such as opening a U.S. brokerage account (see below for an interactive tool) can help. Watch out for these mistakes: Mistake #1 – Taking money out of an IRA To maintain the tax-deferred status of an inherited IRA (Individual Retirement Account), the money must remain in a specially titled account. As an heir, you can transfer the IRA into a “beneficiary IRA” (a.k.a. “stret...2016-04-2103 min

4-Minute Money IdeasWhy You Might Benefit from Having a U.S. Brokerage AccountWhy You Might Benefit from Having a U.S. Brokerage Account By Douglas Goldstein, CFP® Unsure of the benefits of a U.S. brokerage account? Use a free interactive form to find why it may be helpful to keep some of your investments in America even though you live in Israel. See the URL below. One of the most common financial problems Americans living in Israel face is when their U.S. investment company closes their account because of their Israeli address. There is no legal reason why you can’t hav...2016-04-1403 min

4-Minute Money IdeasThe Best Way to Pay for a WeddingThe Best Way to Pay for a Wedding By Douglas Goldstein, CFP® After accepting all the good wishes and mazal tovs, the first thing parents of a newly engaged couple need to think about is the best way to pay for a wedding. Making a wedding can be costly. If you have savings to cover the cost, great. That’s the topic of today’s article. If you haven’t saved for the big day, however, you’ll need to adjust your child’s expectations since you should certainly not take on debt to cover a...2016-04-0702 min

4-Minute Money IdeasShould You Have a Shared Savings Account With Your Spouse?Should You Have a Shared Savings Account With Your Spouse? By Douglas Goldstein, CFP® What’s the best way to invest with your spouse? Should you have a shared savings account or separate accounts? Whenever I help a couple set up U.S.-based brokerage and investment accounts, I ask whether they want a “joint” account, or whether they want to keep their money separate. Shouldn’t couples always invest together? In an ideal world, spouses would combine both their personal and their financial affairs. But given the complexities of today’...2016-03-3103 min

4-Minute Money IdeasWhat Parents Need to Do If They Want Rich Kids Some people say the next best thing to being personally financially successful is having rich kids. However, teaching children good financial habits can be challenging. Here’s where Tom Corley and his book Rich Kids comes in handy. This is a great resource for teaching children (of all ages) about money. The three paths to wealth There are three paths to wealth: Live below your means. If you put 20% of your monthly salary into savings, as well as save all raises and bonuses, you are setting yourself up for a safer future. Thi...2016-03-2402 min

4-Minute Money IdeasIs Panic the Best Reaction to a Drop in the Market?Is Panic the Best Reaction to a Drop in the Market? By Douglas Goldstein, CFP® As an investment advisor who helps olim manage their American brokerage accounts, I’m often asked, “Why should I invest in the stock market when it only goes down?” If you believe that the stock market only goes down, then putting your money in stocks is a big mistake. The people who tend to make money in the stock market aren’t investing for the short term. They realize the market can, and sometimes does, drop, but their long-term...2016-03-1403 min

4-Minute Money IdeasHow to Solve this Common Problem with American Brokerage AccountsHow to Solve this Common Problem with American Brokerage Accounts By Douglas Goldstein, CFP® I often receive calls at my office from people who say that their U.S. investment advisor asked them to change firms. It’s not because they don’t meet the minimum balance requirements. Rather, it’s just because they have chosen to live overseas. For various regulatory reasons, several large investment companies in the United States have decided to stop servicing clients who live abroad, many American olim included. Stringent legislation designed to prevent terrorism, money-laundering, and other crimina...2016-03-1003 min

4-Minute Money IdeasWhat You Need to Know When Blending Two FamiliesWhat You Need to Know When Blending Two Families By Douglas Goldstein, CFP® Many second marriages are the blending of two families, not just two people. This situation raises various questions about child support, how to divide household bills, and inheritance issues. To ensure a smooth financial union, make sure to discuss these issues before the actual ceremony takes place. Sign on the dotted line A financial prenuptial agreement detailing which assets belong to whom and which funds will be used for specific purposes such as children’s college funds and wed...2016-03-0703 min

4-Minute Money IdeasWhy You Need to Think Big and Start Small to Get RichWhy You Need to Think Big and Start Small to Get Rich By Douglas Goldstein, CFP® One of the most effective ways to achieve your financial goal is to develop good habits. Here’s what you need to know: Rome wasn’t built in a day Acquiring good financial habits does not happen overnight. First, you need to decide what you want to change, such as your spending or saving habits, budgets, etc. Whatever you decide to change, make sure you are beginning with a small step. Habits built on small, but st...2016-03-0302 min

4-Minute Money IdeasWhat is the Best Way to Transfer Dollars to Israel?What is the Best Way to Transfer Dollars to Israel? By Douglas Goldstein, CFP® When clients ask to transfer dollars from their U.S. investment account to their Israeli bank, the details they must provide sometimes take them by surprise. Living in a different country from your assets means that money transfers are necessary to meet your cash-flow needs. Following procedures properly can expedite the process. The easy system of transferring funds Although we help people choose investments for their U.S. brokerage, IRA, and 401(k) accounts, many clients s...2016-02-2903 min

4-Minute Money IdeasDo All Married Couples Need to Share Their Money?Do All Married Couples Need to Share Their Money? By Douglas Goldstein, CFP® What’s the ideal way to handle your money? In a perfect world, married couples merge their lives as well as their finances, and have joint accounts. However, sometimes a couple can be connected at the heart but have separate bank accounts. While partners should look at their overall assets together, depending on the circumstances, sometimes having separate accounts is more appropriate. A second marriage Most people enter second marriages with financial baggage from their first marriage. Eit...2016-02-2503 min

4-Minute Money IdeasHow to Make the Most Out of Your Parents’ StocksHow to Make the Most Out of Your Parents’ Stocks By Douglas Goldstein, CFP® What should you do if you inherit a portfolio of stocks from your parents? Should you sell them? To answer the question of whether you should sell the stocks, start by asking yourself whether you would buy these stocks if you had extra cash. You have no moral or legal obligation to keep the positions just because your parents owned them. I’ve had people come into my office with stocks that their parents bought decad...2016-02-2303 min

4-Minute Money IdeasWhat You Need to Know About Start-Up InvestingWhat You Need to Know About Start-Up Investing By Douglas Goldstein, CFP® In a dramatic repeat of what I saw many times in the late 1990s-2000, another start-up company just collapsed, taking with it millions of dollars from investors’ pockets. Not only are the founders’ dream shattered, but its investors’ profits are destroyed and cash lost. As a financial advisor, I review many new companies from the investor’s viewpoint. In almost every case, the story ends badly. Don’t invest unless you know how The main cause of these disas...2016-02-2103 min

4-Minute Money IdeasWhat to Do With Your Money at the End of the YearWhat to Do With Your Money at the End of the Year By Douglas Goldstein, CFP® As the fiscal year draws to a close, it’s time to review your financial plan. Here are three important aspects that you need to look at: Savings goals What are your long-term and short-term goals? Are they the same as they were last year? If your goals are both time and dollar specific, it’s easy to tell whether you are on target to meeting them. Take a look at your pension plan. Is the d...2016-02-1802 min

4-Minute Money IdeasDo You Suffer from “Inheritance Loyalty Syndrome?”Do You Suffer from “Inheritance Loyalty Syndrome?” by Douglas Goldstein, CFP ® It is common to feel emotional angst after receiving an inheritance. Inheritors may have doubts as to whether they are “allowed” to use the assets as they wish, or whether they somehow have to use them in a way the benefactor would have chosen to use them. There are two ways to approach a sudden influx of money into your control: Spend it on things you would never have been able to afford otherwise. The downside of this is the risk of increa...2016-02-1603 min

4-Minute Money IdeasDon’t Leave Tax-Loss Harvesting to the End of the YearDon’t Leave Tax-Loss Harvesting to the End of the Year By Douglas Goldstein, CFP® Many investors optimize their portfolio to minimize capital-gains tax. One popular strategy is to do tax-loss harvesting. What is tax-loss harvesting? Tax-loss harvesting is the practice of selling a position at a loss, and matching the loss against a gain of different stock that you sold. By offsetting losses against gains, capital growth taxes are only paid on the net profits. While this may be a tempting tax-savings strategy, there are three reasons to avoid the end...2016-02-1503 min

4-Minute Money IdeasWhat Should You Do When You Get An Inheritance?What Should You Do When You Get An Inheritance? By Douglas Goldstein, CFP® Many of my client relationships began as a result of receiving an inheritance. The sudden infusion of money is a good impetus for a review of one’s goals. The first thing to do when you get an inheritance is – nothing. There’s usually no rush to spend or invest the money. Let the pain you may feel at losing a loved one and the excitement of “coming into money” die down. Before you make any decisions about what to do, make su...2016-02-1402 min

4-Minute Money IdeasHow to Help Your Children Become Financially IndependentHow to Help Your Children Become Financially Independent By Douglas Goldstein, CFP® A client told me about her married daughter who is in a financially dysfunctional marriage. The young couple finds it hard to make ends meet, and often applies for help from charitable organizations. Yet despite their lack of funds, they still live a fairly extravagant lifestyle. Occasionally, the daughter asks her mother for money, but the mother refuses. My client realizes that she doesn’t have the means to bail them out – and even if she did, they would never learn to st...2016-02-1203 min

4-Minute Money IdeasHow To Break Your Bad Habits And Get RichHow To Break Your Bad Habits And Get Rich By Douglas Goldstein, CFP® Money woes are generally not due to a market gone awry or a low salary. The number one cause of most money problems is bad financial habits. Do you spend without tracking what is leaving your wallet, neglect to make regular deposits in savings, and overlook regular financial reviews and discussion of financial goals with your partner? If so, you may be guilty of harboring negative financial habits. Bad financial habits can be as deadly as smoking. Some h...2016-02-1103 min

4-Minute Money IdeasAre Bonds a Good Investment for You?Are Bonds a Good Investment for You? By Douglas Goldstein, CFP® Bonds are a very popular investment, but before you buy any, let me tell you what I share with my clients about them. Think of a bond as a loan between you and a company or government. Assuming all goes normally, here’s how it looks: You lend them a sum of money They pay you interest periodically until “maturity.” They return the principal of the loan on a specified date. Why buy bonds? Investors looking for steady current...2016-02-1003 min

4-Minute Money IdeasProblems With Your U.S. Brokerage Account?Problems With Your U.S. Brokerage Account? By Douglas Goldstein, CFP® Many readers have recently contacted me because they received a letter from their U.S. brokerage firm informing them that either “You can no longer purchase additional shares of mutual funds in your account,” or “We will no longer provide investment advisory services to you and/or you may only enter liquidating orders or non-solicited orders in your account.” This letter is not a result of new American legislation; rather it means the brokerage firm handling your portfolio is no longe...2016-02-0403 min

4-Minute Money IdeasHow Quickly Should You Invest The Money You Inherit?How Quickly Should You Invest The Money You Inherit? By Douglas Goldstein, CFP® Though I often advise people to wait before investing an inheritance, sometimes you must take quick action. When do you need to act quickly? If you inherited a risky position, you should consider liquidating it. For example, the grandfather who always managed the stock portfolio passes away, leaving large amounts of money invested in a few individual stocks. Unable to live on her own, the grandmother who now owns the stock portfolio needs to move to a nursing f...2016-02-0303 min

4-Minute Money IdeasAre You Getting The Social Security You Deserve?Are You Getting The Social Security You Deserve? By Douglas Goldstein, CFP® The “Greenberg Settlement,” the resolution of a class-action lawsuit brought against the Social Security Administration (SSA), changes the way American olim receive their American Social Security payments. Under the SSA’s Windfall Elimination Provision, if you receive a foreign earnings-based pension, your American benefits are reduced. Until now, claimants of Social Security living in Israel who also received Bituach Leumi old age pension had their payments from Social Security reduced under the Windfall Elimination Provision (WEP). This was because Bituach Leumi was cons...2016-02-0204 min

4-Minute Money IdeasWhen Should You Give Trading Authority to Your Children?When Should You Give Trading Authority to Your Children? By Douglas Goldstein, CFP® Recently, one of my clients had a serious fall at home, breaking his hip, and ended up in the hospital. As a result of his injuries, it was clear that he could not deal with his finances for the foreseeable future and had to hand over trading authority to his daughter. As this all happened suddenly, decisions had to be made in a hurry, leading to mediocre results. If my client, who is over 80, had agreed to hand over trading authority earlier, he...2016-01-2003 min

4-Minute Money IdeasWhat You Need to Do After You Inherit an IRAWhat You Need to Do After You Inherit an IRA By Douglas Goldstein, CFP® If you receive an inheritance, it might come in the form of property, a bank account, or brokerage account. But what if you receive an inheritance from someone’s individual retirement account (often called an “IRA”)? IRAs are different from regular brokerage accounts A regular brokerage account is normally structured as either an “individual” or a “joint” account, and a person’s will determines how the assets will be distributed upon his death. An IRA, on the other hand, is no...2016-01-2003 min

4-Minute Money IdeasWhat Women Need to Know About Personal FinanceBy Douglas Goldstein, CFP® Regardless of the more modern way people look at gender, there are significant differences in how men and women should invest their money. Here’s why: Women’s pensions tend to be smaller Women’s pension payouts tend to be lower than men’s payouts, because most women work fewer hours and have lower salaries than their male counterparts. Even though “paternity leave” is becoming more common, most women still take additional non-paid time after having a baby. And, when they return to work, they may return to a part-tim...2016-01-2003 min

Rich As A KingA Powerful Skill for Making Financial Wishes - Rich As A King Episode 83What are your dreams and goals, and do you think they will come true? On this financial podcast, learn a powerful lesson about the differences between goals and wishes. How can you turn your wishes into goals - and then achieve them? Or you can download the Rich As A King podcast from your favorite platforms: Itunes, Stitcher, and TuneIn. This podcast is based on Rich As A King: How to Become a Grandmaster of Investing, by Douglas Goldstein, CFP® and Grandmaster Susan Polgar, www.RichAsAKing.com.2015-11-0306 min

Rich As A KingHow to Protect Your Identity - Rich As A King Episode 82What is identity theft? How can you prevent this modern type of technological crime happening to you? This financial podcast gives you a list of top tips to prevent online fraud and identity theft. To listen to this podcast, click here Or you can download the Rich As A King podcast from your favorite platforms: Itunes, Stitcher, TuneIn, and of course, our website. This podcast is based on Rich As A King: How to Become a Grandmaster of Investing, by Douglas Goldstein, CFP® and Grandmaster Susan Polgar, www.RichAsAKing.com.2015-10-2711 min

Rich As A KingHow to Communicate With Your Financial Advisor - Rich As A King Episode 81Communication is vitally important for success in finance, relationships, and other major aspects in life. For tips on how to communicate with your financial advisor and when and with whom you should discuss personal money issues, listen to this instructive financial podcast. To listen to this podcast, click here Or you can download the Rich As A King podcast from your favorite platforms: Itunes, Stitcher, TuneIn, and of course, our website. This podcast is based on Rich As A King: How to Become a Grandmaster of Investing, by Douglas Goldstein, CFP® and Grandmaster Susan Po...2015-10-2006 min

Rich As A KingThe Simplest And Most Important Time Management Technique – Rich As A King Episode 75What’s the secret of working efficiently? On this week’s financial podcast, host Doug Goldstein shares some important and useful techniques of time management. Take a few minutes each morning to plan your day, prioritizing your tasks, and your efficiency at work and at home will improve. To listen to this podcast, click here Or you can download the Rich As A King podcast from your favorite platforms: Itunes, Stitcher, TuneIn, and of course, our website. This podcast is based on Rich As A King: How to Become a Grandmaster...2015-09-0805 min

Goldstein on GeltGoldstein on Gelt- Part 1- 021014On this week’s Goldstein on Gelt Show, find out about bonds. How do they work? And how would you know if they are a good investment for you? Show host Douglas Goldstein explains what bonds are and how they work, and he is offering listeners the free gift of a bond calculator. Tune in to this week’s show to find out more. And don't forget to listen to all of the usual financial tips and ideas on your favorite personal finance show. "The Goldstein on Gelt Show” is a global investment and financial planning radio show d...2014-02-1523 min