Goldstein On Gelt

Doug Goldstein is diving into a topic that has been bothering him lately—unrealistic expectations in financial goals. Instead of focusing on sound investment strategies and long-term planning, people are consumed by the desire for quick and massive returns. But is that really the right approach? In this episode, Doug delves into why setting realistic goals is crucial for financial success and how chasing high returns can lead to unnecessary risk. He also shares insights from a recent networking event and discusses the importance of communication in the world of investing. So, sit back, relax, and join us to explore the true value of financial planning on The Goldstein On Gelt Show. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.

How can a lack of estate planning and clear instructions regarding asset distribution lead to family disputes and disagreements? Welcome to another episode of The Goldstein On Gelt Show, where we delve into the world of finance, estate planning, and everything in between. In today's episode, titled "Access Your Money: Lessons from a 5-Year Inheritance Battle," Doug shares a cautionary tale of an individual who faced a frustrating and lengthy ordeal to inherit his mother's assets.  Topics include: The importance of proper estate planning and how it can save your loved ones from unnecessary complications The consequences of inadequate financial preparation and the steps you can take to ensure a smooth transition of wealth How to access your money wisely If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.

What are some specific challenges that Americans living in Israel face when it comes to managing their US investments? How can a cross-border investment advisor assist in addressing these challenges? Doug addresses the importance of understanding what your advisor truly understands about you when it comes to your finances: Why, as a cross-border financial planner, working with an advisor who understands both your situation in Israel and your investments in the United States is crucial. The limitations of working solely with either a U.S. or an Israeli advisor The need for expertise in cross-border investing. Doug also shares real-life examples of the risks and challenges faced by Americans living outside the US, emphasizing the need for specialized knowledge in navigating tax issues and financial planning. If you're a cross-border investor or planning to become one, this episode is a must-listen as Doug delves into the importance of working with a cross-border investment advisor who can p

How do you think Bill Gates' financial advisor would have advised him regarding the concentration of his wealth in Microsoft stock? Welcome to another episode of The Goldstein On Gelt Show with your host, Douglas Goldstein. In this episode, Doug dives into the topic of over-concentration in investment portfolios. He discusses: The risks and little benefits associated with being heavily invested in one or two positions The importance of diversification and the potential consequences of neglecting it Stories of real life clients who found themselves in precarious situations due to over-concentration PLUS! Practical advice on how to avoid falling into this common investment trap. So, if you're looking to build a strong and well-diversified portfolio, stay tuned as Doug offers his expert insights on this critical topic. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.

When you choose to go on vacation, you're prioritizing experiences over money in the bank or investments. It's a value decision. But that doesn't mean you shouldn’t invest in experiences with your family or put all your money in the stock market! Let's talk specific goals and why you should always start with why. Join host Douglas Goldstein as he shares important financial insights he uncovered during his recent family vacation. When planning a vacation, we often make value decisions, prioritizing experiences over keeping all our money in the stock market. Douglas encourages listeners to have specific goals and understand why they are investing. It's not just about the numbers but about creating a life you envision and leaving a meaningful legacy for your loved ones. Doug also breaks down the concept of total return, explaining the different ways one can make money - capital gains, dividends, and interest. He also explores two different investment approaches: the bucket strategy and the total retu

In what ways does Rosh Hashana impact our financial situations for the coming year? Doug explores the connection between Rosh Hashana and your financial future. Discover how the decisions made on this auspicious day can impact your investments and money matters for the entire year. You’ll uncover the fascinating concept of predetermined finances and learn how your choices can shape your financial destiny. Doug also shares insights on the importance of giving back, with a special emphasis on the power of charity. Don’t miss out on this thought-provoking episode that will make you reevaluate your perspective on work, life, and wealth. [00:02:09] Your actions influence your income and life [00:04:37] 20% earnings to charity, recommended by financial advisor [00:08:20] Questions to ask: What will you do? Why? Who will you help? Ultimate response to God’s role: Take action, work, save money [00:02:09] Your yearly income is predetermined, but your spending choices can influence it [00:04:37] The i

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Americans living abroad still need to pay U.S. taxes, so if you are an oleh, it might be a good idea to find an American CPA in Israel. Why would an American CPA in Israel be better than hiring an American CPA who sits in America? Yosefa Huber, an American CPA in Israel answers this very question. She helps American citizens living in Israel stay compliant with U.S. tax laws. Yosefa explains why American citizens, even those living abroad, aren’t exempt from filing a U.S. tax return. She also debunks some of the misguided excuses from U.S. expats who think the American tax code doesn’t apply to those living overseas. (Note that I’m a financial advisor, not a tax advisor. Speak with a professional accountant for tax advice.) Get your pens ready for a checklist Doug has created a simple checklist titled Checklist for Americans in Israel to Choose Financial Advisors. The checklist covers all the major questions an American living in Israel (or any other foreign country) should ask before choosing a financial adv

Have you recently received an inheritance? Did you inherit a brokerage account, an IRA, a bank account, real estate, or property in Israel? Receiving an inheritance can be complicated. Each type of asset has its own way of being passed onto the heir. Inheriting an IRA is different than inheriting other assets, and in order to maintain the tax-beneficial status the paperwork needs to be done in a specific manner. Download the free resource, “What You Need to Do After You Inherit an IRA” which summarizes the specifics of inheriting an IRA. Receiving an inheritance The Goldstein on Gelt Show highlights the specifics behind receiving different inheritances.. Have an unanswered question about inheritances? Reach out to The Goldstein on Gelt Show through the Contact Us bar on the homepage and get answers to your financial questions. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book. Download free resource: What You Ne

Is investing in the global economy really that important? Andrew Vonnegut, author of Inside the Global Economy: A Practical Guide, is an expert in global economics. He explains why global economics should matter to individual investors. Events like wars and market crashes affect every corner of the world. How can investors best prepare for the ripple effect to reach their portfolio? Andrew gives practical advice on how to pick investments in an ever-changing global economy. If you ever wondered about why you should worry if a foreign currency falls, listen to this episode to learn about the interconnected global economy. Is global investing a path to wealth? Doug emphasizes the importance of diversification and explains what that means in the context of the global market. Refer to his free resource called Is Long-Term Global Investing Still a Path to Wealth? To learn more about diversification, listen to The Goldstein on Gelt Show episode called How to Make Good Investment Choices, featuring Paul Merriman. Do

Stock market bubbles have a way of putting the financial world into on edge as they try to attempt to predict when it will burst. Is there a way to predict a bubble? Bubbles transform entire industries including the technology bubble of the 1920s and the 1990s transformed entire industries. Are we on a cusp of another bubble? William Goetzmann, a Professor of Finance at the Yale School of Management, researches the phenomenon of market bubbles. He explains the characteristics of a bubble and the circumstances that create them. Six reasons people buy mutual funds Doug outlines the reasons why people buy mutual funds and makes a convincing case for investing in a money manager in How to Make Money with Mutual Funds. Download the PDF for more information on investing in mutual funds. Free download: How to Make Money with Mutual Funds To learn more about William Goetzmann read his book, Money Changes Everything: How Finance Made Civilization Possible, or follow him on Twitter or the Yale website. If you’re not al

Is the corporate world an ‘insiders only’ club, or do ordinary shareholders have a real say in the company? Learn how shareholder activism may be changing the face of corporate America. Jeff Gramm, a portfolio manager at Bandera Partners, adjunct professor at Columbia Business School, and author, discusses what shareholder activism means for companies in the long run. Jeff gives examples of how shareholders can make significant changes to a company’s board of directors. How shareholders can have a voice in corporate decisions? Are you working with the right financial advisor? Doug put together a sheet for investors called What All Investors Need to Know About Their Investment Accounts. One of Doug’s recommendations is having an open channel of communication with your financial advisor. To better understand what a financial advisor does for you and your portfolio, watch this video. Free download: What All Investors Need to Know About Their Investment Accounts Learn more Jeff Gramm on his website or read his bo

Welcome Generation Y! The United States is in the middle of a millennial economy thanks to the largest population boom after the baby boomer generation. What does this millennial economy mean for investors? Our guest, Ken Gronbach, author and demographer, has a very optimistic opinion. Ken, a human capital analytics expert, explains why demographics define an economy. What’s the most important thing for any business to succeed? Quality people! Listen to learn why Ken has high hopes for the American economy and Generation Y. How to choose investments that give you income Download the free resource “Simple Tools for Increasing the Income You Get From Your Investments” and learn potential ways to increase the return of your investments. Doug explains why an investor would want to focus on income-based investments and which investments can be used to supplement your income. Free download: Simple Tools for Increasing the Income You Get From Your Investments To learn more about Ken and demographics, read his books 

If you are like many of my clients, you might not want to take too many risks with investing your money. If you want a “very safe” portfolio, what does this actually look like? Recently, I spoke with a woman who thought she had a “very safe” portfolio… I was shocked to review her statement and saw she was heavily invested in stocks. Typically, investors who want a “very safe” portfolio should NOT be invested in the stock market, but should choose bank deposits for their money. The power of your portfolio comes from knowing what is inside your investment portfolio. "Risk comes from not knowing what you're doing." - Warren Buffet It is normal for someone’s risk profile to change over time. If this happens to you, when was the last time you mentioned your increased/decreased appetite for risk with your investment advisor? Listen to learn what steps you should take to ensure your risk profile and investments are properly aligned.

When making a decision, do you take ALL facts into account – including your “future self?” When most people make a decision it’s hard for them to see the impact of their decision on their “future self” – but this is a critical piece of information to take into account. Professor Hal Hershfield, Associate Professor Marketing and Behavioral Decision Making at UCLA Anderson School of Management, breaks down the reasons why people make poor financial decisions. As a behavioral decision making specialist, his research covers if, and how, better decision making skills can be taught. He cites his findings that people can make better financial choices if they keep in mind their “future self” - the person you will be later on in life. Unfortunately, when the majority of investors are planning their portfolios, they very seldom consider their future self’s needs. Professor Hershfield has some insight on why it is difficult to think about the future. He also has some advice on how to make better financial decisions. Und

Anti-money-laundering rules have become stricter since 9/11, in order to stop terrorism at the financial level. How does AML (anti-money-laundering) legislation affect international investors? David Kuenzi, a certified financial planner with Thun Financial, explains why AML legislation has made opening an American brokerage account from overseas difficult. David clarifies how the Patriot Act has changed the way financial institutions do business with American citizens residing in foreign countries. While it is not illegal for an expatriate to have a financial account in the U.S., a financial institution’s perspective is much more complicated than the legality of the account. David and Doug advise how to find a cross-border advisor who can address your needs. Are you an American citizen living abroad? Doug has a checklist for American expatriates living in a foreign country. If you’re moving to a foreign country, learn how to keep your U.S. Ira and brokerage accounts open after you move. Download this free res

How can couples have better financial communication? Doug defines six ways spouses can keep the lines of communication open. Whether it is discussing money in a certain way or scheduling a meeting with your spouse, Doug’s free resource How to Talk to Your Spouse When You’re Careful with Money and He’s a Spender will keep all of your financial conversations on track. Download free resource: How to Talk to Your Spouse When You’re Careful with Money and He’s a Spender Are your U.S. tax returns in order? CPA Yosefa Huber discusses the importance of making sure your U.S. tax information is accurate. If you are not completely confident in your U.S. tax returns, make sure to see a qualified tax professional. To learn more about Yosefa Huber and how she helps Americans in Israel with their American tax obligations, go to www.hubertaxcpa.com. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.

Why are many millennials broke? Is there negative cash flow due to circumstances beyond their control or poor money management? Erin Lowry ,author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together, is an American expatriate with an unusual financial perspective. Erin’s international experience made her view the millennial generation through a different lens. Are you guilty of the observations she makes of the broke millennials generation? Learn how millennials can make better financial decisions early on in their career to avoid this financial epidemic. Thank you, Saul, for your letter The Goldstein on Gelt Show listener, Saul, wrote to Doug asking for advice on his personal financial situation. Saul wants to know how you can invest your money and still be able to access it easily. After all, it’s your money and you should be able to use it when you want. Doug offers practical advice for investors about liquidity. Learn more about Erin Lowry on her a website Broke Millennial, or follo

Professional stock researchers can serve as stock pickers for investors who don’t know where to start. Is it better to pick your own stocks or to use a professional stock picker? Tao Wang, a portfolio manager for Alpha Architect, explains how to begin researching stocks. He outlines the differences between value, growth, and momentum stocks. He also emphasizes the importance of having multiple qualifiers when choosing a stock. If you are lost on how to start to build your portfolio, listen to today’s episode. The nine steps to build a good money relationship with your spouse Doug has put together a process called The Secrets of Talking to Your Spouse About Money for couples who need to get on the same page regarding their finances. These steps are down-to-earth suggestions that will make financial discussions a little easier. Free Download: The Secrets of Talking to Your Spouse About Money Tao Wang can be contacted through Alpha Architect. If you’re not already receiving updates on new episodes, sign up now,

Conventional wisdom says that if you want to be in good financial standing, you need to be debt free. However, is all debt bad? If you take into consideration tax breaks and liquidity, can debt be considered financially sound? Tom Anderson, CEO of Supernova Companies and author of The Value of Debt: How to Manage Both Sides of a Balance Sheet to Maximize Wealth, shares his financial philosophy which revolves around balance. Tom argues that debt may have long-term financial gain because debt gives someone liquidity and flexibility. He also breaks down debt into three groups and warns about oppressive debt. Should you pay your mortgage off? Listen to what Tom has to say. Issues widows and widowers need to face in financial decision-making Losing a spouse is life-altering. But does it need to change your financial status? Death opens up unforeseen heartaches, and Doug has created a comprehensive financial guideline for widows and widowers called Answers to Tough Financial Questions for Widows & Widowers. Fre