Goldstein On Gelt

An important, yet neglected, aspect of financial success is organizing your paperwork. Melanie Cullen, author of Get It Together: Organize Your Records So Your Family Won’t Have To, explains why organized paperwork helps you manage your finances efficiently. Find out the best ways to organize your information and why storing it in the cloud is not always the best idea. After your paperwork is organized, and you can see your financial situation clearly, it’s easier to think about retirement planning. This week’s show discusses how to plan for retirement when you there are so many unknowns.  Special guest: Zack the Puppet, CFPP. What’s a CFPP? Listen to the show to find out. Learn more about Melanie Cullen at: http://getittogetherbook.com Contact Zack, CFPP by clicking here.

Efficient estate administration minimizes the amount of time it takes heirs to receive an inheritance.  Estate expert Peggy Atkins Munro, author of Estate and Trust Administration for Dummies, explains the basics that everyone should know when dealing with an estate, whether it is preparing your own estate or an inheritance. Find out the difference between a will and an estate plan and why both are important. In addition to estate planning, it is also important to pay attention to your investments while you are still alive. On today’s show, Doug Goldstein CFP® discusses how a brokerage firm works. Where does your money go when you invest it in a brokerage account, and how is it handled? Follow Peggy Atkins Munro at www.taxpanacea.com

What’s the first thing you should do if you receive a sudden windfall, such as an inheritance, legal settlement, or bonus? Robert Pagliarini, president of Pacifica Wealth Advisors and author of The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth Into Lasting Wealth, gives advice on how to take control of the situation. How do you get proper financial help and guidance, and how should you deal with people who want a slice of your newfound wealth? Most of us accrue wealth not through a windfall but through savings and compound growth. One popular investment vehicle to grow wealth is ETFs (Exchange Traded Funds). Listen to learn more about ETFs and if they are suitable for your situation. Also on the show is surprise guest Zack the Puppet, CFPP, who talks about a new financial educational resource. Follow Robert Pagliarini on http://suddenwealthsolution.com and on Twitter @rPagliarini

Can an investment failure ultimately lead you to financial success? Yahoo Finance columnist Rick Newman, author of Rebounders: How Winners Pivot From Setback to Success, talks about how to rebound from a loss. Find out how to determine whether you should quit and minimize your losses or ride out a difficult situation till the end. Instead of being afraid of failure, use it as a learning tool. Doug Goldstein, CFP® talks about the upcoming U.S. presidential elections and how their influence on market volatility. Listen for information about a free webinar on how the election results may affect your retirement savings. (Reserve your spot here.) Also find out about a common investment strategy that leads many investors astray – and what you can do instead. Follow Rick Newman at: http://rickjnewman.com and on Twitter @rickjnewman

Since schools don’t make financial education a required subject, many people grow up not knowing how to manage their financial affairs. Andrew Fiebert, host of the Listen Money Matters podcast, explains the best ways you can learn about personal finance and how to manage your money. Find out how to avoid the most common financial mistakes and better your personal financial education. When should you sell your investments? How do you know when to sell a stock? If you sell it when it is profitable, you may miss out on potential further gains if it continues to increase in value. But if you sell it when it decreases in price, you have lost money. Douglas Goldstein, CFP®, gives tips on how to make the right decision about when to buy or sell. Don’t forget to sign up for the upcoming free webinar about the possible effects of the U.S. election on your retirement savings – http://bit.ly/Profile_USElections Follow Andrew Fiebert on https://www.listenmoneymatters.com/ and on Twitter @andyfieb

Being a disciplined investor is an important character trait of successful investors. Andrew Horowitz, CFP®, author of The Disciplined Investor: Essential Strategies for Success explains the necessity of self-discipline when investing. What is the best way to deal with media frenzy, risk, and drama in the markets? Being a disciplined investor is more than watching the markets. It also plays into how you discuss financial concerns with your spouse and teach money to your children. Show host Douglas Goldstein, CFP®, brings his wife, BatSheva Goldstein, to the show to discuss their personal strategies for financial discipline and what financial messages they try to convey to their own family. Follow Andrew Horowitz at http://www.thedisciplinedinvestor.com/ and on Twitter @andrewhorowitz

Financial fitness isn't only about staying within your budget and savings. It's also about monitoring your stress level on financial issues. Shannon McLay, founder of The Financial Gym, discusses financial health and why every individual needs their own personal "diet" and "workout". Find out why it's important to work on your money habits while you are still young.   Should you sell your house when you retire? Doug Goldstein, CFP®, answers the question of whether it's a good idea to sell your house before you retire. He also gives tips on when you should hand over financial control to the next generation. Watch the 12-minute video of a recent seminar on this subject at: http://www.profile-financial.com/letting-go Follow Shannon McLay at http://financialgym.net and http://financially-blonde.com/, and on Twitter @theshannonmclay

How much of an influence should your personal beliefs have on your money values and choices? Patricia Aburdene, author of Conscious Money: Living, Creating, and Investing with Your Values for A Sustainable New Prosperity, explains why making financial choices in accordance with your conscience may help you become a better investor. Find out what "conscious money" is and why doing a value review should be an important step in deciding how you invest. What happens if you are "retirement rich" but "cash poor"? Doug Goldstein, CFP®, addresses the problem of having sufficient retirement savings but not enough liquid assets. How can you deal with liquidity issues and improve your cash-flow? If you are an American citizen residing abroad click here to register for our free webinar on U.S. investments for Americans living overseas. Follow Patricia Aburdene at http://www.patriciaaburdene.com and on Twitter @paburdene

Trying to save money is never easy, but you can save more when you avoid common mistakes. Professor Ofer Azar of Ben-Gurion University explains what the most frequent money mistakes are. Find out why people scramble to save on smaller purchases rather than to save larger sums on bigger ticket purchases. Should you invest in your home country or abroad? While it might seem best to invest in your home country because you are familiar with it, investing abroad and geographic diversification may be more profitable. Douglas Goldstein, CFP®, explains what may be the easiest way to invest internationally. To read the article quoted on the show, click here. Follow Professor Ofer Azar at: www.oferazar.com

Now that Donald Trump has won the elections, investors are wondering what may happen to the U.S. economy. Economist Professor Lewis Mandell shares his opinions on the possible effects of the president-elect’s future policies on equity and bond markets, the national debt, and changes in taxation. How might this affect stocks and other investments? Keep your finances in shape Doug Goldstein, CFP®, and guest co-host Shannon McLay, founder of the Financial Gym, give tips and advice on how to stay financially fit. Get ideas on how to save more money and build your wealth on this financial podcast. Follow Professor Lewis Mandell at: http://www.lewismandell.com Follow Shannon McLay at: http://financialgym.net and on Twitter @theshannonmclay

Should corporate social responsibility be a factor in determining your investment decisions? Devin Thorpe, Forbes columnist and author of Adding Profit by Adding Purpose, explains why a company’s profits aren’t antithetical to social good. He also gives tips on how to identify companies that genuinely do good as opposed to those that promote a false image of social responsibility. Should retirees keep any money in the stock market? According to some opinions, retirees should cash out all of their stocks, while others say they should leave their money in stocks to protect them from inflation. Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., looks at both opinions on today’s financial podcast. Is there a “right” or “wrong” answer? Follow Devin Thorpe at http://devinthorpe.com/ and on Twitter @devindthorpe

Why do investors need to know about the central banking system? Have the banks learned anything from the 2008 market crash? Neil Irwin, The New York Times economic correspondent and author of The Alchemists: Three Central Bankers and a World on Fire, discusses whether the economy is on the verge of another crash, the impact of having banks that are considered “too big to fail”, and how the central banking system affects the decisions of individual investors. When planning your investments or for retirement, you don’t only need to look at the central banking system, but also at the circumstances in your own life, such as your age. Doug gives focused investment advice on how to plan for retirement when you are in your 30s, 40s, and 50s. Find out how your age affects your risk level, what kind of expenses you may have, and the best kinds of investments for you, depending on your age. Follow Neil Irwin at: www.nytimes.com/section/upshot and on Twitter @Neil_Irwin

If you are an American living in Israel, how do you claim Social Security? Due to a class action lawsuit, the Windfall Elimination Provision (WEP) is no longer applicable to pensioners who receive bituach leumi. However, if you receive another Israeli pension, you may still be affected by WEP. Watch this video, “Are You Getting the Social Security You Deserve,” which will tell you more about how to plan successfully for retirement and avoid Social Security mistakes. You may also be wondering when the best time is to take Social Security. Andy Landis, author of Social Security: The Inside Story, explains why sometimes it’s a good time to take it early, but why it is usually better to wait. What is the future for the Social Security system, and is it linked to inflation? If so, how will that affect your financial future? Follow Andy Landis and his work at: http://www.andylandis.biz

Considering early retirement? At first the idea of this may sound very appealing. But is retiring at a young age possible or even a good idea in your situation? Today's show provides three points to consider when determining the ideal retirement age. The second half of the show looks at planning the future of the younger generation. Cameron Herold, founder of 1-800-GOT-JUNK and author of Double Double: How to Double Your Revenue and Profit in 3 Years or Less, explains why children should be trained to become entrepreneurs when they are very young. He also shares the Vivid Vision business model that you can adapt to build your own financial future. Read more about Cameron Herold and his work at: www.cameronherold.com Watch his TED talk here and follow him on Twitter at: @CameronHerold.

If there is one investment strategy that financial professionals agree on, it may be…objectivity. Relying purely on your emotions when making financial decisions can seriously damage your investment strategy. Dr. C. Thomas Howard, co-founder of AthenaInvest, talks about why objectivity should be an important component of your investment strategy. He describes the five emotional triggers that cause the most damage, and why he thinks Modern Portfolio Theory may lead to emotional investing. However, don’t be discouraged if you do make a wrong investment decision. You can always learn from your mistakes. This is also an important lesson to teach your children. Find out why it’s a good idea to let your children make financial mistakes… and learn the best way to help them understand the importance of financial responsibility. Follow Dr. C. Thomas Howard at: http://www.athenainvest.com/

Many people believe that frugality is the key to getting rich. Self-made multimillionaire and financial podcaster Linda P. Jones disagrees. Listen to her interview on The Goldstein on Gelt Show to find out why being frugal isn’t enough. Linda explains why you should follow the lead of billionaires rather than millionaires when making investment decisions. When considering where to put your money, you need to understand what is “reasonable,” and what rate of return would be a cause for alarm over a period of ten or twenty years. Follow Linda P. Jones at: http://www.lindapjones.com/ and on Twitter: @LindaPJones

When you retire, will you spend all day at home in your “empty nest?” What do you want to do after you retire, and do you have the funds to do it? Roger Whitney, “The Retirement Answer Man,” talks about how to plan life after retirement. Find out how to get ready to live your dreams and how to avoid some of the most common retirement mistakes on the way. Since it is now “wedding season”, remember that making a wedding should empty your house, not the bank account. Get tips and advice on how to make a budget conscious wedding that is well-planned, fun, and a great foundation for a secure future. Follow Roger Whitney at http://rogerwhitney.com, and on Twitter @Roger_whitney

Making money mistakes can have ramifications that can take years to correct.  What are the most common mistakes people make with their money, and how can you avoid them? In today’s show, Doug shares common financial errors people make, and gives suggestions on how to be a more successful investor. Many money mistakes happen when a couple is getting divorced – both in the negotiations and immediately afterwards while setting up separate lives. Financial advisor Ted Jenkin of oXYGen Financial explains the three money issues that you must think about during a divorce. He also answers crucial questions about how divorce affects Social Security when you retire, and whether financial pre-nuptial agreements are really effective. Ted Jenkin blogs about money, divorce, and other financial issues at http://www.oxygenfinancial.net/ Follow him and his work at: @oXYGenFinancial

How do interest rates affect the way you plan for retirement? Dan Moisand CFP® explains how interest rates affect retirement planning. He also discusses the best way to withdraw money from retirement plans (including IRAs) without incurring any penalties, and the circumstances in which you may end up paying an extra 10 percent. Follow Dan Moisand at his work at: http://www.moisandfitzgerald.com How do retiring to Israel and making aliya affect your finances? Will you still have to pay U.S. taxes, and will you still be able to maintain your American retirement and investment accounts? Listen to today’s show to get access to an article that answers these questions. Also, find out how you can take Doug’s upcoming course on investing for free.

How can you best plan for retirement in Israel? On the show, Doug discusses retirement planning, including: When should you start to take Social Security? How to get regular income from your investments to supplement your pensions How to maintain U.S. brokerage and IRA accounts while living in Israel Bestselling author Jay Papasan, co-author of The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results, explains how to find the one thing that motivates you to achieve your goals, retirement or otherwise. Jay shares techniques for developing good money-building habits that lead to a meaningful life and successful retirement. Follow Jay's work on Twitter at @jaypapasan and on LinkedIn and Facebook. Visit his website: www.the1thing.com