Goldstein On Gelt

Did you get a “Dear John” letter from your U.S. brokerage account informing you that your account will be closed? A Goldstein on Gelt Show listener recently received a letter from their U.S. brokerage firm dropping them as a client. The listener wants to know if there is an easy way to open a U.S. brokerage account from Israel. And there is! There are U.S. brokerage firms that work with cross-border investors every day. Profile Investment Services, Ltd. is a Jerusalem based investing firm that works with cross-border investors. Doug has created a free resource with six steps an international investor should follow when opening a U.S. brokerage account. The free resource titled The Easy Way to Open a U.S. Brokerage Account When You Move to Israel will make international investors prepared for the transition. Download free resource: The Easy Way to Open a U.S. Brokerage Account When You Move to Israel What would you like to learn in a financial investment course? Doug is creating an online financial course. The

Do you and your spouse have a financially stable marriage? In honor of his 26th wedding anniversary (BatSheva - looking forwards to many more!!!), Doug created a free resource to help you make sure you and your spouse are mindful of how money affects your marriage. You can build a financially stable marriage in different ways: you can jointly review your financial statements regularly, stay away from debt, or go shopping together. Download a series of practical tips for a financially happy marriage: Handling Money for a Happy Marriage. Download free resource: Handling Money for a Happy Marriage What are 3 ways an investor can make money? Ron Zalben of Aboulafia Avital Shrensky & Company joins Doug for today’s tax tip. Do you know the different tax ramifications on interest from bonds and dividends? Ron explains their differences in-depth. To reach out to Ron Zalben, contact ron@aboulafia.co.il. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s fre

Do PFICs (Passive Foreign Investment Companies) deserve a bad rap? Why do Doug and his guests tell listeners “don’t invest in PFICs.” Today’s guest, Stacy Collier, will explain exactly why an investor should avoid PFICs, otherwise known as offshore mutual funds. Stacy Collier, a U.S. based CPA, specializes in helping U.S. citizens manage their money from abroad. Stacy outlines the good, the bad, and the ugly about PFICs. She explains how the IRS. deals with PFICs and describes the red tape that owning a PFIC create. Before you invest in any investment, know the pros, cons, and risks. Should we read your listener letter? Doug answers a listener’s question about portfolio structure. “Rich” asks if it’s a good idea to change your asset allocation later in life. Doug offers insight into bonds and bond funds and explains how Rich’s investments are affected by the difference. Learn more about Stacy Collier and PFICs by downloading this chart, or visiting her website SDC CPA Tax Services. If you’re not already recei

Would you trust a computer to make your stock trades? Well, that’s exactly what algorithmic trading does. Bert Mouler, founder and CIO of Profluent Capital, develops artificial intelligence that creates an algorithm for optimal trading. Bert explains what algorithmic trading is and how it differs from robo-advisors. He explains why algorithmic trading is efficient, and assures investors that the computer is simply a tool, not the advisor. Is this investment strategy right for you? Get to know your financial advisor When a U.S. citizen leaves the country, many American brokerage firms drop them as a client. Being asked to transfer your account out, can be disheartening, but it doesn’t have to be. Doug helps expats in exactly this position, and many of his new clients believe that having an advisor in their new country is actually better than keeping their old advisor who may not be fluent in cross-border issues. Doug has put together a free resource on finding the right advisor in a new country called How to C

Why do people like to invest in gold? Investing in gold is like purchasing wealth insurance, but why? Rich Checkan, president of Asset Strategies International, and Doug explore the benefits of owning and investing in gold. Rich explains how gold always keeps its value, what he refers to as wealth insurance. He shares the best ways to store gold and how to sell gold when it is time. He warns listeners to only deal with reputable dealers and advises how to find one. Listen in to learn more about this precious commodity. The wealthy and the non-wealthy have the same worries Wealthy and non-wealthy people are bound to have some of the same financial concerns. Doug assures the audience that all people have financial worries. He compiled a list called Worries of the Wealthy for any investor. You just might find we’re all the same. Free resource: Worries of the Wealthy Rich Checkan can be contacted through Asset Strategies International. To learn more about Roger Whitney and his 5-minute retirement plan, go to roge

There’s more to financial advising than making a client money. How can a financial advisor make the markets more humane? Mihir Desai, professor of finance at Harvard and author of The Wisdom of Finance: Discovering Humanity in the World of Risk and Return wants to demystify financial markets and make them friendlier. He warns the audience that the financial system is broken, and proposes a fix: change how investors and financial advisors view the financial world. He also describes why many people avoid the financial sphere and suggests a less intimidating financial advising approach. The easy way to invest around the world America has some strict policies regarding overseas investments. But, having a global portfolio can be a smart financial strategy. Doug created a list of investment choices you can use to build a more diversified portfolio. Learn about these choices by a PDF, The Easy Way to Invest Around the World. Free Download: The Easy Way to Invest Around the World To dig a little deeper into this subj

What happens when your financial planning backfires or doesn’t account for the worst-case scenario? Harold Evensky is a Certified Financial Planner ® who has some evergreen advice for investors. Harold meets with many investors who share the trait of being overconfident in their financial decisions. He explains how a financial planner, like himself, can help them see the big picture. Today’s guest is Harold Evensky, a Certified Financial Planner ®. He explains how he helps clients prepare for the unplanned for circumstances. He uses a technique called “framing” to help investors look at the big picture and really understand what risk means. Often an investor’s overconfidence will cause them to ignore some very real possibilities. Be warned: certainty and safety are the not the same thing in financial planning! How to be prepared for a job loss Do you work in an unstable work environment? An unstable work environment could be a startup or high-tech company or someone who works on commissions. Doug has tips for

American citizens abroad need to pay taxes both to their host country as well as Uncle Sam. What is being done to minimize the tax burden on these Americans? American Citizens Abroad (ACA) is leading the fight for tax reform. Marylouise Serrato, executive director of American Citizens Abroad, explains their position on international American citizens’ tax rights. Americans living abroad are currently being taxed by both the U.S. and the foreign government where they live. Glen Frost, certified public accountant and tax law expert at Frost and Associates, also joins the conversation to promote the proposal Marylouise and the ACA are presenting to the U.S. Congress to reform the current system. Listen to the discussion of how and why U.S. tax international laws need reform, and what you can do to help the cause. American taxation on dual citizens has international repercussions, as the rest of the world is closely watching this issue. The 6 lessons you need to learn for financial success Doug lists some practic

Is Bitcoin a virtual currency or a “real” currency? Can a viable currency be independent of a government or bank? Why don’t you see people buying their morning coffee with bitcoin? Brian Patrick Eha, author of How Money Got Free: Bitcoin and the Fight for the Future of Finance, explores the development and phenomenon of digital currencies, including Bitcoin. Brian shares the history of Bitcoin and explains how it works. He also suggests who could benefit from this kind of currency and delves into why it could be more relevant in the future. Second marriage? Should you blend your finances? While second marriages are a great joy, they can bring a unique set of financial challenges to the new family. Doug presents a list of steps for couples who are entering or are currently in their second marriage. Download Managing Money in Second Marriages to strengthen your family’s finances. Free Download: Managing Money in Second Marriages. Follow Brian Patrick Eha on Twitter, and read his book How Money Got Free: Bitcoin

Believe it or not, your financial planner’s track record isn’t as important as their financial philosophy. This is because your financial planner’s main job is to help you gain a sense of control over your financial future, not pick the next hot stocks. There are no quick tricks –financial planning is a process that takes time, especially if you just received an inheritance. Marguerita Cheng, CFP® and CEO of Blue Ocean Global Wealth, describes what it takes to be a successful financial planner… and a good financial planning client. She stresses the importance of sharing information with your financial professionals, and why it’s necessary to fully understand your current situation before you create a plan.  She explores why people tend to shy away from financial planning and how she encourages clients to change their thinking to be more positive. Listen to learn the questions investors should ask a new advisor. Will tax loss harvesting give you extra money? Doug offers a free checklist for investors who want

Cross-border investing means you have money in more than one country. How easily can you access your money and what are the tax implications for investing in different countries? When an American citizen moves to Israel, or any other foreign country, there are many things they need to do keep their money accessible. What should international investors do to make sure their money is accessible even overseas? Tune in to find out! Doug shares the microphone with Monte Silver, a licensed tax lawyer in the United States and Israel. Monte helps expatriates who want to minimize tax problems that arise with cross-border investments. Monte breaks down the issues international investors need to consider, and shares common misunderstandings of U.S. tax law. He explains why real estate investments have the most tax issues attached to them. Advice for expats who keep their money in the United States Doug’s 20 years of experience in dealing with Americans living abroad who have U.S. brokerage accounts, motivated him to cre

Globalization connects the world and creates endless possibilities. But globalization is not a win-win scenario for everyone. How are your personal finances affected by a growing global economy? Professor Angus Deaton, Nobel Prize-winning economist and Professor Emeritus at Princeton University, joins the show to talk about the effects of globalization on the economy. He explains why there is still a clear division between the “haves” and the “have-nots,” and how we can even out the playing field. Professor Deaton says our education system may be part of the problem, and that technology could correct economic inequalities. What you need to know about early retirement Early retirement takes more work to plan than retiring at the standard retirement age. If you are considering early retirement, learn the 8 Rules for Early Retirement Success. How you prepare for your retirement makes all the difference. Download the list of Early Retirement Rules here. Free Download: 8 Rules for Early Retirement Success. To lear

Contracts are an integral part of life. Many of our daily interactions include either a verbal or written contract. What contract is implied when you buy/sell investments? Oliver Hart, Nobel Prize winner and Economics Professor at Harvard University, explains “contract theory.” He defines what a contract is and how people enter into agreements. Listen to their discussion of bond contracts and other investment agreements that require a contract. Why do people frequently sign contracts that they may not fully understand? They also dive into the legal enforcement of contracts and the problems a contract can cause for both parties. Is your current bank or brokerage firm providing the services you need? Doug shares the story of a client who set up a U.S. investment account through his Israeli bank. He points out the folly of this decision (from an American tax point of view) and where the bank might have gone astray wrong with its financial planning models. To learn more about how to plan a bond ladder, watch this

Joining Doug today are the panelists from the Money Tree Investing Podcast: Joe Saul-Sehy, Miranda Marquit, and Linda P. Jones. The discussion among four top financial podcasts focuses on the real issues brought up in listener questions. Send your questions, or tell me your biggest financial problem!

Should the goal of investing be to beat the market or to meet your personal financial goals? Spencer Jakab, editor of The Wall Street Journal’s column Heard on the Street and author of Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in Your Favor, describes what happens when investors let media pundits (experts) and trends sway their financial habits. Frequently, individuals actively managing their own investments have lower returns than a completely passive strategy. Why is this? How can you tilt the odds of success in the market in your favor? Does following professional advice help? How about following media trends? Doug and Spencer talk about how to develop a mechanical investing strategy, and what steps you should take if you really want to beat the market. Take these steps if you want to retire early Doug shares a list of five tips he has for investors with their hearts set on retiring early. He shares the obvious things to do and maybe a couple of things you haven’t thought

Most adult children eventually face the problem of having to help aging parents with financial decisions. What is the easiest way to have that discussion when the time comes? Carolyn Rosenblatt and Dr. Mikol Davis of Aging Parents offer non-threatening ways to begin the conversation and how to respond if a parent doesn’t want to talk about the subject. Approaching an aging parent about their intellectual (and fiscal) demise is a delicate matter. Related, is the subject of elder financial abuse. Sadly, there are people who will take advantage of a deteriorating mental and physical state. Listen to learn some common preventive measures you can take to protect the elderly. They cover conversations a family should have and conversations that should be revisited later on down the road. If you need a little advice on how to speak to your aging parents about their finances, tune in now. 8 mistakes that high earners need to avoid Doug received a listener letter from Matthew who asks for advice on how to control his e

If you were born between 1982 and 2004 you can be considered a millennial investor. This is because millennials were born near, or came of age, during the 21st century. Millennial investors are the largest generation in American history, and the most tech orientated. How does their reliance on technology affect their finances? Unfortunately, millennial investors have a reputation for being disinterested in face to face meetings. So, how does a financial planner effectively communicate with them? Stephen Rischall, one of Investopedia’s most influential 10 financial advisors, reveals his findings after working with millennial investors. Contrary to popular belief, millennials don’t hide behind text messaging and social media regarding their money decisions. Stephen assures Doug that the investors he works with are very committed to maintaining a close relationship with their advisor. He shares observations about family financial planning and why he believes that the millennial generation’s relationship with tec

What does the perfect investment portfolio look like? Ken French, Professor of Finance at the Tuck School of Business at Dartmouth College, explains how to build a perfect investment portfolio. Since no one is the average investor, figure out how you are different from the average investor, and build your portfolio accordingly. Financial success isn’t built by choosing the right stock, but making investments with your goals in mind. Chasing the latest “hot stock” or basing your financial decisions on the financial news is not the ideal investment model. Instead, Professor French encourages investors to make sure their portfolios are designed to meet their financial goals in the most efficient way possible. Remember, efficiency doesn’t mean beating the market. Listen to learn why passive strategies might be best for you. You really want this to happen, but could it ruin you financially? Doug examines what living longer means for your financial plan. He recalls a conversation he had with Professor Robert Merton

To protect your portfolio’s assets and keep investment gains, it is more important to buy at the right price or sell at the right price? Grant Williams, co-founder of the Real Vision Group and author of Things That Make You Go Hmmm… discusses the steps that investors can take to protect their investment portfolio. There is no guaranteed answer, however, there are decisions and precautionary measures that can minimize the possibility of losing money. Grant encourages listeners to watch their stocks and other investments carefully so they can be more proactive in their portfolio growth. He also has some sound advice for baby boomers who want to bolster their portfolios. So, how do rich people get richer? Doug has observed wealthy people and their habits over the years. He compiled his findings into a downloadable document, available here. This list is the perfect resource for anyone who wants to know how the rich stay rich. If you would like to adapt other habits of the wealthy read, Tom Corley’s article 16 Ric

Your portfolio returns can be affected by not only owning the right investment, but by making sure it is in the right type of account. Bob French, the Director of Investment Analytics at McLean Asset Management, gives insights on how investors can optimize their portfolio returns. Different investments grow at different rates, Bob helps investors put the right investment in the right type of account. He also shares the smartest withdraw strategy for retirees needing income (hint: it has to do with hiring a professional money manager). The most important thing to know when moving your money from America to Israel Doug has a list of tips for American expats (olim) who want to move their U.S. dollars abroad. He explains why it may be difficult to move money, and tells listeners how to avoid the delays and frustrations many international investors face. To access the whole list, click here. To follow Bob French, visit his website retirementresearcher.com, or follow him on Twitter @Robert_French. To learn more abo