Goldstein On Gelt

Is minimum wage important for workers? Professor Dale Mortensen, winner of the Nobel Prize in Economics in 2010, explains what the movie Moneyball teaches about the minimum wage. Find out what friction is in terms of markets, and what may encourage workers to be more productive.

Professor Peter Diamond, winner of the 2010 Nobel Prize in Economics, explains the purpose of Social Security and how recent policies may affect the U.S. economy. What can retirees expect from Social Security in the future?

Magnus Carlsen is one of the world’s most famous chess players, becoming a grandmaster at age of 13. In this interview, he shares his thoughts on the question of whether talent is innate or if it is something you have to work at. He also gives advice on how to develop your chess skills and shares what a day in the life of a top chess professional is like.

Macroeconomic data such as inflation, interest rates, and employment figures often appear in news reports. But what does this information mean, and how does it affect the ordinary person? Professor Christopher Sims, winner of the 2011 Nobel Prize in Economics, explains what macroeconomic data teaches us about the state of the economy. Follow Professor Sims at: http://www.princeton.edu/~sims/

What’s the difference between quasicrystals and regular crystals, and how does this affect your life? Professor Daniel Shechtman, winner of the 2011 Nobel Prize in Chemistry, tells the story of how he defied scientific opinion to discover quasicrystals. Find out which industries use quasicrystals today, and why Israel produces so many successful scientists.

Are margin accounts a smart way to build a portfolio? Ever thought about borrowing money to invest? Don’t do it! At least, not till after you listen to this episode of The Goldstein on Gelt Show! Margin accounts, borrowing money to invest, is a risky investment strategy that shouldn’t be done without careful consideration Find out what a margin account is and why it may be a bad idea. Four questions to consider before creating a margin account Doug has four questions that every investor should ask if they are tempted to borrow money for investing. Margin accounts are a high-risk move, and most people aren’t comfortable with such a drastic investment strategy. Ask these four questions to decide if borrowing money makes financial sense for you. Richard Duncan, the developer of Macro Watch and author of The Dollar Crisis and The New Depression, forecasts an upcoming recession in the global economy. Richard also points to recent events that could lead to an American recession. He and Doug discuss how investors ca

Often the financial world advocates “more money” and “more growth” – but can you live with less? Graham Hill is a firm believer that you can live on less. Graham’s awesome TED Talk, “Less Stuff, More Happiness” set off a lively debate. He shares his unique view on society’s need to get more money, more power, more stuff…just “more” in general. Yet, studies show that beyond a certain minimum income level, people’s happiness levels don’t increase the more money they earn. Doug and Graham discuss why having more money doesn’t necessarily mean you’ll have more happiness, and why the idea less = happiness is true for many people. You need to be picky about your financial advice. Everyone has an opinion on everything, particularly money. Who should you turn to for financial advice, and how can you separate sound advice from nonsense? Doug talks about the advice given in a Kiplinger article, 12 Reasons You Will Go Broke in Retirement. To learn more about Graham’s radical lifestyle ideas visit www.lifeedited.com. If

What is graphene, and where and how is it used? Andre Geim, who won the Nobel Prize in Physics in 2010 for his work in discovering graphene, discusses his work and its practical implications. How easy is it to turn a scientific breakthrough into a viable consumer product?

Is it possible to make an income from passive income, or is it all internet hype? Online entrepreneur Pat Flynn, from the Smart Passive Income blog, explains how more and more people are running successful online businesses. He also shares how he earns money from passive income and gives tips on how to begin an online business. Follow Pat Flynn at: www.smartpassiveincome.com and on Twitter @PatFlynn.

Does being an optimist have hidden benefits? Benjamin Zander, music director of the Boston Philharmonic Orchestra and the co-author of The Art of Possibility, explains how learning from your failures can turn you into an optimist. Follow Benjamin Zander at: www.benjaminzander.com and on Twitter @BenjaminZander

Professor Gary Becker, 1992 Nobel Prize Winner in Economics, shows you how to apply economic theory to family finance. Learn new ways you can make sound financial decisions, and resolve family conflicts about money.

What is “loss aversion,” and why does it cause investors to make mistakes? Professor Daniel Kahneman, winner of the Nobel Prize for Economic Sciences in 2002, is well known for his work on the psychology of judgment and decision-making. Find out what loss aversion is, why overconfidence can be bad for investors, and how to avoid making financial mistakes.

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-minute video on bond laddering and how it can help you make the most of rising interest rates. Follow Roger Whitney on The Retirement Answer Man podcast on iTunes and on Twitter @Roger_whitney

Market 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 money and why both of you should attend financial planning meetings together. Watch a 3-minute video that explains the necessity for both spouses to be involved in all major financial decisions. Follow Jamie Wise at: www.buzzindexes.com and on Twitter @BUZZIndexes.

Spousal U.S. social security benefits can add up, so if you are divorced (or know someone who is), make your claim accordingly. Devin Carroll, financial advisor at Carroll Investment Management, discusses with cross-border financial planner Douglas Goldstein, CFP®, the effects of divorce and remarriage on Social Security benefits. Find out why women in particular should research what they may be entitled to when they retire, whether single, married, or divorced. Depending on your situation, it may be more than you think. How to help seniors handle their investments One of the toughest financial questions people ask is when to let go of financial responsibility. When should you consider adding additional names to your financial accounts and train someone to follow through with your financial values? Get the answers in a 12-minute video about how to let go of responsibility and pass it onto the next generation. Follow Devin Carroll at www.socialsecurityintelligence.com and listen to his podcast, Big Picture Ret

"Cheapskate" isn't necessarily a pejorative term, as cross-border financial planner Doug Goldstein, CFP®, finds out when he interviews Jeff Yeager, author of How to Retire the Cheapskate Way: The Ultimate Cheapskate's Guide to a Better, Earlier, Happier Retirement. Learn why cheapskates rarely suffer from “buyer’s remorse,” and get tips for how to teach children the advantages of delayed gratification. Follow Jeff Yeager at www.ultimatecheapskate.com and on Twitter @JeffYeager How using a checklist can help you become a better investor The Checklist Manifesto promotes the use of checklists for pilots and in minimizing medical mistakes. But could using a checklist improve your financial situation? Look at a real example of an interactive checklist for how to open a U.S. Brokerage Account from Overseas, and send an email to get a checklist on how to choose a good investment advisor.

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, written by Professor Gal, about the savings accounts, click here. Follow the work of the Taub Center at taubcenter.org.il and on Twitter @TaubCenter Should you invest your money in a casino instead of the stock market? Roger Whitney, the Retirement Answer Man, co-hosts this episode of The Goldstein on Gelt Show. Find out why some people prefer to bet in a casino, where the odds are stacked in favor of the house, rather tha

Douglas Goldstein, CFP®, a financial advisor who helps people preserve the real value of their money, questions how safe it is for people to put money in the bank. Professor William Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City and author of The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry, discusses bank safety and explains why OECD nations insure bank deposits. How does this insurance work? Also, find out about the complex investments that brought Wall Street to its knees. What is a "safe stock"? If you want your money to grow faster than the bank’s interest rates, should you invest in the stock market? Is there a "safe stock?" What should conservative investors do with their investments? Follow Professor Black's blog at: http://neweconomicperspectives.org/category/william-k-black and on Twitter @WilliamKBlack. Listen to his TED talk here.

Many people believe that the typical "white coat investor," i.e. a doctor, surgeon, or dentist, must be wealthy due to the relatively high salary medical professionals earn. Dr. Jim Dahle, author of The White Coat Investor: A Doctor's Guide to Personal Finance, explains why this is not always the case. Many professionals are not financially astute, and they have no idea how to manage their money or prepare for retirement. Dr. Dahle discusses how to manage the financial jump from living on a low-income to becoming a high-salaried professional. If you live a long life, will you run out of money? Many retirees’ biggest worry is that they will outlive their savings. Douglas Goldstein, CFP®, director of Profile Investment Services Ltd., shares tactics for preparing financially for a long life, so that you will always be able to pay your bills. Follow Dr. Jim Dahle at www.whitecoatinvestor.com and on Twitter @WCInvestor.

Although budgeting is an important part of personal finance, the real key to building wealth is to make more money. Matthew Paulson, author of The Ten Year Turnaround, discusses why you should think out of the box when deciding on a profession rather doing what seems easiest. Find out how giving charity can change the way you perceive money and help you to earn more. Can international investors own a trust? Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., explains how new legislation affects trusts and their owners. Follow Matthew Paulson at www.mattpaulson.com and on Twitter @MatthewDP