Goldstein On Gelt

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

Retirement is all about cash flow. After all, it’s your income that will determine your lifestyle in retirement, not your net worth. Jason Parker, Retirement Income Certified Professional, explains what the term “cash flow” means and why it is important for retirees to have a source of income. Should your net worth should be your main focus in retirement planning or your cash flow? Jason stresses that retirees needs to know where their money will be coming from and how to smartly manage it for optimum success. 8 Rules for Successful Investing in the Stock Market Doug lists eight rules he follows for investing in the stock market. If you have plans to put some money in the current stock market, take a look at this list before you investing. To learn more about Jason Parker and his retirement planning advice check out his book, Sound Retirement Planning, or listen to his podcast Sound Retirement Radio. For a limited time, Jason is offering a special discount offer for Goldstein on Gelt listeners: if you visit t

Do you ever dream about retiring early? Billy and Akaisha Kadarli share their story of how they managed to retire early, at age 38. Billy, a Wall Street investor, realized he and his wife needed to pull back from work to help their marriage. Billy chronicles the steps he took towards early retirement and explains how he keeps his portfolio healthy. Learn about his market approach as well as his main sources of income. If you want to retire early, here are some good benchmarks to use. Ever wonder how the rich stay rich? The wealthy aren’t wealthy by accident. It’s one skill set to get wealthy and another skill set to stay wealthy. Doug collected tips from people who have made money and managed to keep their wealth. To see his compilation of “How You Can Make and Keep Money Like the Rich Do”, enter your email into the form below: (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//forms.aweber.com/form/94/855132094

Is your self-worth dependent on your job, your title or your paycheck? If so, what will happen when you retire and all of those disappear? Nancy K. Schlossberg, author of Too Young to Be Old: Love, Learn, Work, and Play as You Age, focuses on the transition to retirement, by focusing on the importance of having a healthy psychological portfolio for retirement. Nancy discusses the mental preparation new retirees should do in order to find balance in their life. She also encourages open communication with life partners and family about your finances. Listen to learn how you can improve your financial conversations. Don’t ignore your financial statements! Are you overwhelmed when you open your financial statements and need help understanding the numbers? Doug offers a brief guide to understanding your financial statements. The biggest mistake an investor can make is not making an effort to understand what is going on. Even if you just look at the front page of your statement, learn what numbers are the most impo

Bob Hoye, chief financial strategist of Institutional Advisors, warns that the bond market bubble is in danger of bursting. He explains what happening in the bond market right now that is causing a bubble, as well as, how investors can avoid the inevitable bubble burst. Bob’s background in the mining industry and investing gives him a keen understanding of the commodities and their relationship with the market. Listen to learn what type of bonds retirees should buy in light of this situation. Should you invest internationally? Doug explores what is happening in the global markets. Many foreign countries are experiencing economic growth. Are these emerging markets great assets for investment portfolios? Doug explains what emerging market debt is, and gives tips on how to decide if emerging market’s risks are worth the potential benefits? Join Doug to hear more about this intriguing investment option. To learn more about Bob Hoye visit www.institutionaladvisors.com. To learn more about Roger Whitney and his 5-m

Need help understanding what bonds are or how you should choose to invest in bonds? Doug is joined by Zack the Puppet, a CFPP (Certified Financial Planner’s Puppet) to bring some levity to their discussion about bonds. Doug explains what bonds are and how they work. He also clarifies the best uses for a bond. He also has some advice on how to find the right balance of principal and income in your portfolio. If you want more insight into bonds then watch this video. It might help you make better bond selections. 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.

Emotions are important part of being human, but leave them out of your financial decisions! Behavioral finance expert, and The New York Times best-selling author Dr. Daniel Crosby explains four issues that can derail your financial decisions. Instead of making decisions based on feelings and instinct, learn how to implement a more reliable system. Should you turn your behavior on its head and integrate the good, bad and ugly of emotional bias in your decision making? Do investors fail because the market is bad or because of their own errors? Consider benchmarking your financial successes, not to the market, but to the things in life that are meaningful to you. Learn how to develop a system that works for you and use it to automate your investment choices. Are you a value or growth investor? Doug compares value stocks to growth stocks. After explaining how each type of stock works, Doug suggests that a well-rounded portfolio include both value and growth investments. Listen to learn why, and to find out if you

Millennial investors are stereotyped as having short attention spans and an aversion to investing. Is this an accurate representation? Doug invites Shannah Game, CFP® , a specialist in millennial investors, to discuss the difference between millennials and other investors. Listen to two Certified Financial PlanningTM Professionals debate how retirement and investment goals are different for millennials. Shannah reaches out to this financially conservative generation and offers some tools that make investing and saving a little easier. She also has a simple exercise that you determine why you need to “know your number.” 3 types of mutual funds Are you familiar with all 3 types of mutual funds? Doug explains the differences in the 3 types of funds (index funds, open end funds and closed funds) and elaborates on closed end funds. What are the pros and cons of closed end funds? What makes them a good choice for some investors, but not others? To learn more about Shannah Game and other issues affecting millennial

Can young people become millionaires? They can if they begin investing early! Listen to Grant Sabatier, “the millennial millionaire,” as he shares why and how he embraced an early investing strategy. Grant took advantage of a bear market and made millions of dollars when the market recovered. He stresses the importance of having both a short-term and long-plan for investing. Doug and Grant discuss his strategies and discipline, and explore the successes and failures of Grant’s investment journey. Should young investors invest aggressively? Doug answers the question of when someone should begin saving. The answer is simple… right now! Millennials should start putting aside a percentage of their income as soon as they begin working. Ignore the impulse to wait until “things are financially easier” to save, since saving is a habit. Doug explains how mutual funds and index funds work, and encourages creating a long-term plan for stock market investing. Unlike older or late investors, a young investor may be able t

Stretching is not only for the gym… if you have a “Stretch IRA” you can s-t-r-e-t-c-h out the taxes due on your inherited IRA (Individual Retirement Account). If you pay taxes later, you have more money to invest now! CPA and Estate Planning Attorney Jim Lange discusses with Doug how to best title and organize inherited IRAs so beneficiaries can defer taxes. Jim stresses the importance of setting up inherited IRAs properly in order to maximize the benefits of these accounts. Learn two critical mistakes people make when receiving an inherited IRA, and make sure that you prepare your paperwork properly. Investing for the future means that you’re optimistic If you ask Doug whether his cup is half full or half empty, he’ll say it’s full of promise for the future. Doug discusses his favorite new technologies (self-driving cars!!! – listen to another interview on the topic), and summarizes how to decide what technology to choose for your long-term money. If you are optimistic that the economy is growing, look to th

We are living in “the age of longevity” where 20-year-olds can expect to live to 100! Does this mean the current retirement system will soon be obsolete? Professor Andrew Scott, an economics professor at the London Business School and author of The 100-Year Life: Living and Working in an Age of Longevity, discusses how retirement planning needs to change to face the challenges of an extended lifespan. Listen what transformations need to take place both in the current attitude and infrastructure of retirement planning. Are governments adequately addressing the inevitable strain longer lives will place on their future economies? How can individuals and their retirement planners make informed choices to cope with a longer retirement? Professor Scott insists that the most important aspect of retirement planning may not be financial. Tune into the financial podcast to learn which specific aspect of retirement planning should be your focus. There is no such thing as a “no risk” investment Risk is an inherent part o

Retirement planner Nahum Daniels, CFP®, discusses with Doug how retirees can maintain a steady cash flow in retirement without receiving a paycheck. Nahum and Doug compare and contrast the benefits of fixed annuities, index funds, passive investing and bonds. Is one investment vehicle better than the others? Are bonds appropriate for retirees? Many retirees have a large percentage of bonds in their retirement portfolio. However, the risk of inflation can lower the real value of your fixed income (bond) returns. So what is a retiree to do? Consider a bond investment strategy that may improve your returns: bond laddering Bond laddering may pay a higher long-term rate while staggering interest payments to provide steady income during retirement. Learn more about bond laddering at www.profile-financial.com/bond-ladder. Listen in as Doug explains asset allocation strategies to balance safety with higher returns. To learn more about Nahum Daniels, visit his website.   If you’re not already receiving updates on new

Does a stock market trader need to be lucky? Or is there a skill that can be learned to get stock market trading success? Jack Schwager, author of the Market Wizard series, examines the difference between having “luck” in stock market trading and having a well-informed system or algorithm to choose trades. Unfortunately, some investors think intuition is all they need to make great stock choices. Intuition and luck shouldn’t be the basis of trading decisions. How do you know if you just got lucky or if you discovered a winning algorithm? Jack emphasizes that vigilance and good research are the most important criteria for success with an investment portfolio. Being well-educated about the current market is really the best course for any investor. Is the P/E ratio a reliable measure of a good stock? Many investors depend on the P/E (price earnings ratio) of a stock as an indicator of whether it is a “good buy.” Doug explains how the P/E ratio is calculated, discusses whether it really is a reliable measure of a

Can analysts predict the factors that drive investment returns? Does the “dual momentum” approach improve investment returns? Gary Antonacci, winner of the Wagner Award for Advances in Active Investment Management, explains how he combines two strategies in his dual momentum approach. Can relative momentum (buying stocks that perform better than their peers) and time series momentum (buying on positive momentum and selling on negative momentum) actually improve investment performance? How do performance-based strategies reconcile with the investment refrain “past performance can’t predict future performance?” The sting of great investment returns: Capital Gains Tax Once you are fortunate to have profits in your investments, don’t neglect your capital gains tax. Learn how capital gains tax strategies can be especially useful to dual citizens who may be liable to pay taxes in two countries. Make sure that you have a great CPA for each country you owe taxes to – and that each one knows what the other is doing. J

Are you afraid to begin market trading? Aaron Fifield, the host of the financial podcast, Chat with Traders takes the mystery out of market trading is and explains how to get started. Doug and Aaron discuss what sort of attitude best serves a trader. They also debunk misconceptions people have about market trading. Aaron offers advice for newcomers who might be intimidated by bigger traders and confirms that even a small trader has a place in the market. How much money should a trader start investing? Do you know what’s in your portfolio? Doug warns investors not to ignore their portfolio. Investors need to review their statements and have a full understanding of what is going on. He has some options for investors who may have lost interest in their account. He explains the difference between a basic financial advisor relationship and a “separately managed account” (SMA) with a money manager. If you are out of the loop on your investment portfolio, then let Doug help you get back up to speed. If a SMA sounds

Attitude is everything and Jen Sincero, New York Times bestselling author of You Are a Badass at Making Money: Master the Mindset of Wealth, explains how a positive money mindset is critical to financial success. Jen is a firm believer that you create your financial situation based upon how you think about money. She and Doug discuss common delusions people have about money, and provides tips on how to connect with your personal money beliefs, so you can weed out the bad ones. Lots of people are looking at money wrong. Are you one of them? If you are ready for a money mindset change, listen to this interview! What is the difference between a stockbroker and a financial planner? While some financial professionals are both stockbrokers and financial planners, they are really two separate professions. Doug compares the two positions and offers advice about when it is best to consult one or the other. Here’s a hint, if you are planning for retirement: the financial planner is your best bet. To get more informatio