Goldstein On Gelt

This week, it’s Doug’s birthday, and to celebrate, he goes back to basics. He shares the wisdom that his mother, a 17-year veteran of Wall Street, taught him, and the stock-picking trick his grandmother, one of the first women to be licensed as a stock broker in America, used.   In today’s guest interview, Peter Schiff, economist, financial analyst, and president of the Euro Pacific Bank, discusses the U.S. government’s debt and its effects on the economy. How can the American government debt be repaid? Peter Schiff goes head-to-head with Obama’s policies. He believes America is heading for a rude awakening when the world realizes that the U.S. can’t pay back her debt. Learn about Schiff’s solution to the debt crisis.   Follow Peter Schiff’s work at: http://www.europac.com/ Listen to his podcasts at www.schiffradio.com Find out more about his books at: www.schiffbooks.com

Financial expert Peter Schiff returns to The Goldstein on Gelt Show with some advice for the 2016 president-elect on the American economy. Whether Clinton or Trump is elected, the American president must take America out of the current recession and restore America’s greatness. In his message to the next U.S. president, Schiff explains the effects of a weak dollar on stock prices and much more. The next U.S. president will inherit an economy in shambles. But what happens when you inherit a stock position from your parents? How will that inheritance affect your finances? Find out what you need to know when you inherit assets. What questions do you need to ask yourself when deciding whether to sell inherited stocks or keep the original positions? Learn more about Peter Schiff at: www.schiffradio.com (podcast), www.europac.com (financial advice), and www.schiffgold.com (gold company.) Follow on Twitter @PeterSchiff and watch his videos on YouTube at: The Schiff Report Channel.

Did you ever wonder why people make such a big deal about interest rates? Doug explains why interest rates affect you, what you should do if you think rates will keep rising, and how the risks of rising interest may impact your financial health.   In today’s interview, Doug meets Anne-Marie Slaughter, president and CEO of New America and author of Unfinished Business: Women, Men, Work, Family, who left her prestigious position as the first woman director of Policy Planning for the U.S. State Department to take care of her family. Shunned by many other feminists, she explains to the Goldstein On Gelt audience why she is still a feminist, but why the feminist movement hasn’t finished its job. What is the true meaning of equality, and why do attitudes need to change towards both men’s and women’s roles in order to achieve it? Follow Anne-Marie Slaughter on Twitter: @slaughterAM You can also find out more about her work at: http://www.randomhousebooks.com/authors/anne-marie-slaughter/ and https://www.newamerica.o

You don’t need to be an American to trade in U.S. securities. Find out how to invest in one of the most popular investment tools, Exchange Traded Funds (ETFs), even when you don’t live in America. Learn why  ETFs are such popular investments, and how they may improve your portfolio’s return. Listen for the link to a video that will tell you if you need a money manager to handle your ETFs. If you want to improve the way you handle your financial life, listen to the discussion with Marshall Goldsmith, author of Triggers: Creating Behavior that Lasts.He gives actionable tips that are easy to implement in order to improve your finances, and life in general. He even shares the details of the single most important phone call he has… every day! Follow Marshall Goldsmith at www.marshallgoldsmith.com. You can also email him for more information about his work at marshall@marshallgoldsmith.com

Do you know the implications of moving your money from one country to another? The San Bernardino terror attack had serious repercussions on the world banking system. Learn which measures to take to keep your money out of the hands of terrorists. Does having a U.S. brokerage account protect against money laundering and keep your personal information safe?  Steve Lohr, Pulitzer Prize winning journalist, editor, and author of Data-ism, weighs in on preventing money and personal data from falling into the wrong hands. He discusses information technology and data around the world. Data-gathering has many positive purposes, but it also has a dark side. How does data-gathering violate your personal privacy? Are banks doing enough to prevent money laundering? Follow Steve Lohr and his work on the technology blog at The New York Times and on Twitter at @SteveLohr.

Retirement planning isn’t only about accumulating enough assets. One of the secrets of financial success is developing good money habits. You can improve your financial habits by following the three T’s. Tune in to find out what these are. Preparing for retirement isn’t only about money. Doug speaks with  Stan Hinden, retired Washington Post financial writer and author of How to Retire Happy: The 12 Most Important Decisions You Must Make Before You Retire, talks about how the most important things to do to prepare for an enjoyable retirement. What are the two lists you should make when you retire? What happens if you don’t save enough money during your working years? Listen now to find out the answers to these questions.

“Save for Retirement” is a common mantra among financial professionals, but what are the specific strategies you should use? What is the secret of successful long-term saving and how can you make sure to stick to your goals? Don’t miss Doug’s top tips, as he explains the best way to save for retirement. Why is it so important to automate your savings? How do you know what you will need when you retire? Should you follow the movements of the markets? The beginning of the new fiscal year is a great time to review your financial plan, and update as necessary. If you have any financial questions that you would like discussed on the show, send them to: doug@profile-financial.com.

Did you give (or get) a gift recently?   If you give a sizeable financial gift, who pays the tax? The donor or the recipient? What are gift exclusions and how do they relate to couples?   In today’s Goldstein On Gelt interview, Doug speaks with futurist Martin Ford, New York Times best-selling author of Rise of the Robots: Technology and the Threat of a Jobless Future. Martin questions whether the rise of automation and increase use of robots means we need to fear for job security as well as economic security. He speaks about the limitation of computers, and the best way of investing in the financial markets in an automated world.   Follow Martin Ford on Twitter: @MFordFuture

What are the most common questions that investors ask? Doug created a series of 12 short videos with the answers to the questions he is most frequently asked.. Watch the videos at www.profile-financial.com/faq-video. Today, Doug  helps you with your financial paperwork, and lets you know what papers you really need to keep.   In today’s interview Roger Lowenstein, author of America’s Bank: The Epic Struggle to Create the Federal Reserve, explains why the Federal Reserve was created and suggests why the large debt may NOT be a harbinger of doom. With a more optimistic attitude than many experts, Roger explains how the Fed controls and stabilizes currency.   Follow Roger Loewenstein and his work at: www.rogerlowenstein.com

Is the bank really the best place for your money? And what are the best financial habits that you should try to adopt? Doug shares tips to implement financial habits such: When is taking money out of the bank an important financial move? What's the difference between a mutual fund and an ETF?   Today’s guest, Aviad Goz, representative of Franklin Covey in Israel, specializes in the Seven Habits of Highly Successful People, written by the late Steven Covey. Aviad talks about taking personal responsibility for yourself and your wealth. He explains the best way to become proactive instead of reactive, and how to properly set goals.   Follow Aviad Goz and his work at: www.momentum.org.il Read Aviad’s book: Self-Navigation: A Compass for Guiding Your Life and Career

The most common retirement planning mistakes are made by pre-retirees. These include: Overspending Underspending Social security mistakes Doug explains common mishaps people make and offers suggestions on how to avoid them.   Today’s interview with Professor Laurence Kotlikoff of the Economics Department at Boston University, author of Get What's Yours: The Secrets to Maxing Out Your Social Security, discusses the changes in Social Security rules, including  changes in claiming spousal benefits. Professor Kotlikoff explains how people’s retirement plans are getting knocked off course by new legislation, and advises when you should first claim your Social Security benefits.   Follow Professor Kotlikoff and his work at: http://www.kotlikoff.net/ For more information about making the most of your Social Security entitlements, visit: http://maximizemysocialsecurity.com/ For useful software, developed by Professor Kotlikoff, to help you plan your finances, visit http://esplanner.com/

In today’s show, Doug answers a commonly asked question: Should people entering a second marriage combine their assets? Doug explains the pros and cons of setting up joint accounts with a new spouse, and lists five important factors to consider when making this decision: Prenuptial agreements Financial privacy (separate doesn’t mean hidden) Compromise Account beneficiaries Finding a happy medium   For more information on this subject, read the following: http://finance.yahoo.com/news/5-mistakes-people-make-when-they-remarry-152317027.html http://www.thefinancegirl.com/how-to-combine-your-finances/   If basic money management skills are so obvious, why are so many people unaware of them? Cary Siegel, author of Why Didn’t They Teach Me This in School?-99 Personal Money Management Principles to Live By, teaches the vital personal finance lessons that we never learn in school. Find out the top 3 things that everyone should do to be financially responsible: Live below your means Keep a written budget Save half

On today’s show, Doug explains an important fact that everyone who has an IRA should know about bequeathing it to the next generation. Find out what a "stretch IRA" is and how it can save taxes for many generations!   For a clear definition of a stretch IRA, see: http://www.investopedia.com/terms/s/stretch-ira.asp   Today, we meet programmer Jeff Kaufman. Jeff and his wife Julia are an amazing example of how regular people can have a huge impact on the world. Jeff explains how he and Julia donate half of their income to charity. How does their generosity affect their lifestyle? Is it possible to save and plan for retirement if you donate a lot of your resources to charity?   Follow Jeff and Julia’s work at Julia’s blog: www.givinggladly.com

True story: someone had an IRA with a big U.S. brokerage firm, but he lived overseas. Recently, the firm told him that they would stop servicing his account and that he had to transfer his assets out. What should he do? What is the easiest way to transfer an IRA from one brokerage firm to the next? In today's episode of The Goldstein On Gelt Show, Doug explains what you should do if this happens to you. Doug also explains why you should care if your money guy is a "financial advisor" or a "money manager."   In today’s interview, Professor Tomas Lindahl, this year’s Nobel Prize in Chemistry, talks about his research with DNA and the human genome. Dr. Lindahl shares insights about the vulnerability of your DNA… and how it might be possible to fix it. Is a cure for cancer on the horizon? Discover why medical research is one of the most important investments there is.

Today, Doug returns to the theme of the habits of wealthy people. Adopt these habits of financially successful people  for yourself:   Pay your bills as soon as you get them Read personal finance books. Start by saving – pay yourself first. Set limits on purchases   Today’s interview explores how adding the human touch and a little fun to government policy and individual investing produces results. Dr. David Halpern, creator of the British government’s “Nudge Unit” explains how governments can use behavior finance research to dramatically influence the way people act. Can you apply these same tools to make yourself a better investor, saver, and philanthropist?   Follow Dr. Halpern and his work at: http://www.behaviouralinsights.co.uk/

On today’s show, Doug talks about good financial habits. The habits of wealthy and successful people include: Automate savings Control impulse spending Track expenses Take advantage of tax-deferred growth and compound interest Maintain an emergency fund Eliminate and avoid debt   When you set up good habits, use the sequence of the three Ts: Target, Trigger, Treat.   Today’s guest takes the theme of good financial habits a little further. Dr. Ben Tiggelaar, author of Dream, Dare, Do, talks about effective self-management and how to improve the way you manage your finances. Do your emotions affect the way you behave?  This interview has great tips on how to develop good financial habits and stick to them.   Follow Dr. Tiggelaar’s work on: www.Tiggelaar.com  

What should you do if your U.S. brokerage firm tells you that they don’t want you as a client anymore? Doug explains why this might happen, and why you should see this as an opportunity instead of a problem.  He also directs you to his popular 10-minute video, "U.S. Brokerage Accounts for Non U.S. Residents," which thousands of people have watched. Watch it here: http://profile-financial.com/videos/us-brokerage-accounts   In today’s interview, Robert K. Weiss, vice chairman and president of XPRIZE, discusses how incentive prizes boost investment and why they can be used instead of grants to boost research. How was the XPRIZE launched? Is research into space travel a good investment? What is Israel’s connection with the XPRIZE? Follow Robert K. Weiss and the XPRIZE at: www.XPRIZE.org

Today, investing and banking are processed electronically. What really happens to your money when you invest? Doug answers this question by revealing the differences between banks and brokerage firms and how each one uses and views your money.     In today’s interview, Milton Kotler, president of the Kotler marketing group and co-author of Winning Global Markets: How Businesses Invest and Prosper in the World’s High Growth Cities, talks about his company and why he decided to invest in China. Why did Kotler invest in China? How much of China’s economy is government controlled? Why does Milton believe that global growth is measured by city by city rather than country by country? Book: “Broken Abacus” by Daniel Rosen Book: “Winning Global Markets” by Milton Kotler www.kotlermarketing.com

Professor Irwin Horwitz of Texas A&M University returns to The Goldstein on Gelt Show to share his thoughts on the American education system. How will the decline in standards ultimately affect the economy? Are we focusing on the right things in education? Why is it important to stand up for your beliefs and how can you do so in a hostile environment? Doug spoke about: How to get things done Clear your mind How to become better investor Budget, Pay your bills as soon as get them, create a filling system, cleanup your debts, shred documents you don’t need anymore. Identity Thefts