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Investors used to be able to buy PFICs (passive foreign investment corporations) investments without a lot of trouble. So what changed? Yosefa Huber, CPA, helps U.S. citizens living abroad sort out tax issues regarding their U.S. investments. Doug and Yosefa discuss why PFICs cause so much trouble to investors and their accountants. Learn what a PFIC is, and then take a look at your investment portfolio to see if you inadvertently own one. Should you try to retire early and enjoy life? Doug has 3 Reasons Not to Retire Early, and they may be more legitimate than you realize. Free download: 3 Reasons Not to Retire Early Yosefa Huber can be contacted through her website and Facebook. 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.

Many successful family businesses also have a strong family culture. How are the two related, and how do you shape your family culture? Mitzi Perdue grew up in one family business and married into another. Mitzi shares how her father, founder of Sheraton Hotel, created a strong foundation for his family and encouraged a positive family culture, and how she and her husband, Frank (think chicken!) built their own family culture. She discusses both business and how to become a better family unit. The author of How to Make Your Family Business Last: Techniques, Advice, Checklists, and Resources for Keeping the Family Business in the Family, Mitzi explains how a strong family culture improves all forms of communication, but most importantly, makes having financial discussions easier. What to do when you want to move your money overseas Doug shares a listener letter. “Janet” wants to know the best way to move a few thousand dollars over to the U.S. Listen to the show to find out Doug’s answer. Hint, it has to do wi

Do you know what your retirement income needs are? How much will it cost you to live during retirement? There is no one magic answer as your retirement income should be determined by your personal needs. David Trahair, CPA and financial writer, concurs that retirement is a personal case-by-case situation. He advises how to calculate your retirement goal based on your own personal situation, a one-size fits all approach to retirement planning is useless. David explains how listeners could look at their financial needs and plan accordingly. How Monte Carlo simulations can help financial planning Doug shares a listener letter from “Stewart.” Stewart asks Doug to explain Monte Carlo simulations and why they are useful in financial planning. In addition to Doug’s explanation, you can watch this video on the subject. Follow David Trahair by visiting his website or reading his books The Procrastinator's Guide to Retirement, and Cash Cows, Pigs and Jackpots: The Simplest Personal Finance Strategy Ever. If you’re not

Is a basic education enough to make informed investment decisions, or do folks with higher education tend to make better Investment decisions? Nobel Prize winner and Brown University Professor J. Michael Kosterlitz reflects on how education is the key to making positive change in all aspects of life… including finances. Listen to learn how researching superfluidity generated a new understanding of physics, and more importantly, how to perfect your own individual thought process. Professor Kosterlitz admits his scientific work is hard to understand, but it is the idea behind the work that really matters. Professors Kosterlitz explains that in order to apply an idea or a process, you first need to understand how it came to be. This concept is critical in understanding your personal investment choices. How to build a smarter portfolio Doug shares three steps an investor needs to take to create a Core/Satellite portfolio. Learn how to do this by downloading a one page resource called What’s a Simple Way to Get a

There is more than one way to skin a cat, and there are multiple investment strategies you can apply to your savings. But how do you know which strategy can produce the best results for you? Today’s guest, Yariv Haim, founder and CEO of Sparrows Capital, delves into two of his favorite investing strategies: evidence-based investing and contrarian investing. Yariv defines these strategies and explains why they are effective. Should you let the facts speak for themselves, or should you rely on your own intuition? How important is your mindset when looking for a good personal investment strategy? Is it time to have a financial discussion with your parents? One of the toughest financial issues people have is deciding when it’s time to relinquish their financial independence and ask for help with their finances. Download a seven-step checklist for adults who feel that their parents might need some help with managing their money. The list is called 7 Steps to Helping Your Parents Manage Their Money. If you need som

If you are one of the millions of people who live outside of America and have an American brokerage account, you are a cross-border investor. Despite the scale of cross-border investing, many Americans living abroad find their American brokerage firms asking them to close their investment accounts because they have a foreign address. Fortunately, there are financial institutions dedicated to help cross-border investors. David Kuenzi is the founder of Thun Financial Advisors, an American brokerage firm specializing in cross-border investing. As a Certified Financial Planner David understands the need expats have for cross-border investment advice. David explains why the FBAR is so important for international tax compliance, and suggests looking at your investments as more than just a currency value. Listen for insights as to what cross-border investors should do with their money. Chess can make you a better investor During Doug’s time writing Rich as King with Grandmaster Susan Polgar, he noticed some “grandma

How much is your money really worth? Currency devaluation means that as the value of a currency decreases, the buying power of money decreases too. So, how do you protect your investments from devaluation, inflation and other economic crises? Ari Pine is a financial trader who has a deep interest in macroeconomics. We discuss the possibility of a global inflation and how governments get themselves in and out of difficult financial situations. Ari explains the difference between a financial bubble and inflation. He eases listeners’ fears about currency devaluation and offers an investment strategy called a “permanent portfolio” as a possible solution. The concept of a permanent portfolio was developed by Harry Browne. To learn more about it, read Harry Browne’s book Fail-Safe Investing: Lifelong Financial Security in 30 Minutes, and discuss with your financial advisor whether his recommendations may be appropriate for you. Should you invest in bonds? Many investors who want steady income choose to invest in th

Does your family’s primary financial caregiver hold their cards close to their chest? Maybe the following story sounds familiar about a parent keeping your family financials a secret: Dan has always handled the family’s money. He organized the budgets, took care of the investments, and maybe even set up investment portfolios for the now-adult children.  While he had a lot of work to do, he understood it all, and wanted to save everyone else in the family the burden of financial organization. Here’s the other side of the story Dad’s getting older and even though he still holds the financial reins he won’t discuss his decisions with anyone in the family.  Even his wife doesn’t know all the financial details. Worse, he won’t give the adult children the necessary information so they can report their taxes on investments. What should this family’s accountant and investment professional do to help? Tune in to today’s show with special guest, U.S. accountant Yosefa Huber to discuss the mistakes whe

Make sure your financial plan accounts for what you don’t want to happen A good financial plan takes into account the 4 Ds (death, disability, divorce, debt) and plans around them. Doug and John Ross, estate planner and elder law attorney, stress the importance of planning for the unexpected. John is a co-host of the weekly podcast Big Picture Retirement. He shares some insights on what many people fail to do when preparing for retirement and old age. Chief among these failures is not choosing a power of attorney (POA). John explains what the most important aspects of retirement planning are, and he lays the groundwork for planning for retirement. How to get control of your money (when you have money) Doug presents a checklist called How You Can Get Control of Your Money (When You Have Money). He covers the common stumbling blocks people face when managing their money. If you can’t seem to get a grip on your finances, then this download is a must-read. Free Download: How You Can Get Control of Your Money (Whe

Want to guess who normally initiates a financial planning meeting – men or women? Doug and Brittney Castro, founder and CEO of Financially Wise Women, discuss differences in how men and women approach financial planning and investing. What do these two CFPs ® (Certified Financial Planners) notice about the gender differences in investing? Brittney delves into the common problems women face when making financial decisions. She shares how women can overcome these issues and create a more secure future… and do it with confidence! Brittney emphasizes the importance of a financial planner, and advises the steps someone should take after making the initial call in order to best prepare for their meeting. 11 Steps to Take When You Receive an Inheritance Doug offers a list of tips for people who have recently received an inheritance. These tips will help investors get their bearing after receiving a sudden windfall. If you have recently come into some an inheritance or other lump sum, make sure to download the list.

Do your financial values guide your investment decisions? Financial values are the things that are important to you: the goals you have for your money. Before any investment or purchase, ask yourself, “What do I value?” Certified financial planner Michael F. Kay explains how a person’s background affects their financial choices. He asserts that our parents are our first models of fiscal behavior. We can rise above the nature vs. nurture debate, and not blindly follow the path of a fiscally poor role model. You can break the cycle and create good habits moving forward. Learn how to identify your financial values and use them as guidelines. The author of The Feel Rich Project assures listeners that you don’t have to “go cold turkey” to make a positive change in your financial life. Financial independence is not just finding investments with high cash flow Doug explains that finding investments with high cash flow is not the only way to feel financially secure. There are other ways to get a positive cash flow. D

How can you design an investment portfolio to account for uncertainty? Every leadership change creates insecurity. Investors pull out and buy into markets simply because of election results. How should the political climate affect the way you design your investment portfolio? David Rosenberg, the chief economist, and strategist at Gluskin Sheff and Associates explores why people believe political changes affect the economy and answers the burning question: When does politics actually change the market? Listen for his advice about how to weather the current market. Don’t undermine the importance of the bond market to the economy’s health, and remember to establish the economic fundamentals of any company. Need a roadmap for retirement? Doug shares a listener letter from “Rich” who is approaching retirement and wants to know the smartest way to manage his nest egg. Doug put together a resource sheet called “How to Set Up Your Portfolio When You Retire” in response to Rich’s questions. Doug has six bits of advic

People first, then money, then things. Suze Orman, one of America’s most recognized personal finance experts, and I discuss why men and women have different financial priorities. Why is that men and women tend to handle money differently? Is it true that women are better at investing than men? Learn why fear, shame, and anger are the internal obstacles to wealth, and why your self-worth and your net-worth are connected. Can money make you feel more secure? Do you agree with Suze when she says, “If you feel less than, you’ll spend more than.” What can your brokerage firm do for you? Doug discusses the various services a brokerage firm offers its clients. He explains that invested money isn’t the same as a bank account and that not all brokerage firms offer the same services. Tune in to find out how to make the most out of your relationship with your brokerage firm. To learn more about opening a U.S. brokerage account, click here to get a free toolkit for overseas investors. For more information about Suze Orma

Can having a bad or good day affect your investment choices? Before you decide to buy or sell that next stock ask yourself why you are doing it. Dr. Kate Levinson, author of Emotional Currency: A Woman's Guide to Building a Healthy Relationship with Money and a licensed family therapist, shares the role that emotions play in financial decision making. She and Doug explore the question of why many women avoid financial responsibilities in their day-to-day life. She tries to empower women to take an interest in their financial situations. Everyone is vulnerable, and it’s important to recognize that even the wisest decisions might not turn out how we want. Learn how to build a positive relationship with your money! Is “loss aversion” costing you more than you think? Doug reviews his interview with Nobel Prize winner Daniel Kahneman about loss aversion and offers tips on how to fight against it. To listen to Doug’s original interview with Daniel Kahneman, click here. If you are interested in learning how Doug avo

Your IRA (Individual Retirement Account) is a great retirement tool. Are you using it in the most efficient manner? Kirk Chisholm, Principal of the Innovative Advisory Group, shares some common misconceptions and mistakes people make with their IRA account. Kirk explains the difference is between a standard account and a self-directed account. He encourages investors to consider the self-directed approach because of its flexibility. He stresses the importance of understanding your investments and knowing your options. Listen now learn how to use an IRA account to its fullest potential. Are you afraid the market might crash? If so, consider doing this: Fear plays a part in every investor’s decisions. Are you letting fear paralyze your investments or are you able to manage your financial anxiety? In 2013, Doug interviewed Nobel Prize winner Gary Becker, and discussed the role fear plays in people’s financial decisions. Doug compiled a summary of the interview along with a list of tips for nervous investors. Cli

How much money do you need to be happy? In other words, can financial stability bring happiness? Bestselling author of The Five Secrets You Must Discover Before You Die, Dr. John Izzo and Doug explore what happiness really is and the underlying question, “Does money make a person happier?” Dr. Izzo spoke to 250 people with 18,000 years of cumulative life experience and found one thing in common: your internal mindset about how you see money impacts your happiness more than the dollar amount in your bank account. Listen to his research that shows if financial stability really brings happiness. Want to manage your finances without a professional financial advisor? Doug discusses the many different ways you can choose to handle your money – with or without a professional’s help. He compiled a list of “7 Different Ways to Handle Your Money.* (Click here to download) which covers the right ways and the wrong ways to plan. Whichever way you choose to handle your money, make sure you and your spouse agree on it! If

Most people think of networking as a good way to find a job or make other type of connections. J. Kelly Hoey, author of Build Your Dream Network: Forging Powerful Relationships in a Hyper-Connected World, shares how networking can help or hinder your financial decisions. This is because networking is based on trust… a necessary ingredient in any financial advice you get. Kelly offers advice to listeners about how to build a trustworthy network that may open up new financial opportunities. Supporting your adult children can ruin your retirement! Saying no to your grown children requests for money teaches them self-reliance. While it may be a difficult lesson to implement, Doug presents a list of methods of “cutting your grown children off” so you can preserve your own retirement funds as much as possible. Create a realistic course of action to teach your adult children how to be financially independent. For a full list of steps to stop your enabling practices click here. Learn more about J. Kelly Hoey by readi

What is the difference between a stock’s price and intrinsic value? Learn how to determine a stock’s intrinsic value, and how to make sure you pay less than the value you receive. John Szramiak of Vintage Value Investing joins Doug to discuss the importance of knowing the intrinsic value of your stock selections. John is a firm believer that the intrinsic value of a stock is its real strength. Should you look at a stock’s current price or the stock’s potential? You don’t even know how aggressive of an investor you really are! Believe it or not, many of your “safe investments” carry some level of risk (like inflation risk and interest rate risk). Doug compiled a list of these risks, and steps you can take to minimize the aggressiveness of your portfolio. Download this list now. To learn more about John Szramiak visit his website or follow him on Twitter @Vintage_Value 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

Do your elderly parents need help with managing their finances? This is a difficult realization both for child and parent, and accepting and giving help needs extreme sensitivity. Letting go of the reins of a financial account is a process. Since this is a difficult conversation to have, consider inviting a financial professional to be an objective voice. Doug gives advice for adult children – and their parents - who find themselves in this challenging position. If you and your parents are at this crossroads, watch this video that might help adult kids and their parents discuss when to hand over financial decisions and accept help with finances. At a certain point being too trusting, or making bad financial decisions, is an invitation to a con artist. The financial bad guy isn’t necessarily a stranger – it can be someone you know, maybe even someone who is close to you. Retirement planning requires some flexibility Financial planner Benjamin Brandt of the Retirement Starts Today podcast joins Doug to discuss

Bobbi Rebell, author of How to be a Financial Grownup: Proven Advice from High Achievers on How to Live Your Dreams and Have Financial Freedom discusses how to be a financial grownup. Bobbi uses her journalist background to offer a how-to guide for responsible money habits. Although the book was originally intended for the millennial generation, Bobbi soon discovered that people of all ages need practical money advice. Bobbi suggests automation as a tool for making sure you have the necessary discipline to maintain financial responsibility. She and Doug talk about David Bach and support financial automation as a tool to reach financial goals. Are you seeing your retirement needs clearly? Doug tackles the question, “can you save too much?” Doug also explores the potential pitfalls of pensions. While financial professionals tend to put an emphasis on saving, there comes a time when it is OK to withdraw principal from retirement accounts. Doug give pointers on when retirees can make the switch from saving to wit