Goldstein On Gelt

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

When you plan for retirement, what are the choices you need to make? Joel Kranc, author of Retirement Planning in 8 Easy Steps: The Brief Guide to Lifelong Financial Freedom, explains why your retirement planning should not always follow “rules of thumb.” Instead, you should base your retirement on personal choices. Discover the eight steps you need to take when you plan for retirement. Are you worried in case there could be another economic crash like in 2008? Doug Goldstein, CFP®, who counseled his clients through the credit crunch, talks about how the central bankers handled the situation and what might happen next. Read Doug’s review of Ben Bernanke’s book about the 2008 crash. Follow Joel Kranc at http://kranccomm.com/ and on Twitter @kranccomm

Risk management is an important strategy in investing. On today's show, Professor Lewis Mandell, financial economist, author, and former Dean of Business at the State University of New York at Buffalo, discusses risk management and explains why he thinks the popular tactic of portfolio rebalancing may be a mistake. Read Professor Mandell’s book What to Do When I Get Stupid , and visit his website http://lewismandell.com/ Follow him on Twitter: @lewmandell. Doug answers a listener’s question on today's show when he tells you what you need to know about opening a U.S. brokerage account in Israel. Click here for a free interactive tool that will guide you in what you need to know when opening a U.S. brokerage account.

What are the necessary qualities for successful investing? Very often, investing success comes from making the right decisions. On today's show, find out: how you can improve your decision making skills, what "decision fatigue" is, why you should choose the sources of financial advice carefully. Another important tool for achieving investment success is self-discipline. Rory Vaden, best-selling author of Take the Stairs: 7 Steps to Achieving True Success, talks about the skills that you need to stick to your plan and why it is a good idea to work hard at the beginning to get good long-term results. Follow Rory Vaden and his work at: www.roryvaden.com and on Twitter at @rory_vaden.

Can you avoid stringent U.S. tax legislation aimed at Americans living abroad by renouncing your American citizenship? On today's show, Doug answers a letter from a listener asking how to deal with U.S. tax obligations and whether it is worthwhile to renounce American citizenship. Get a link to the video of an interview with Bitcoin pioneer Roger Ver, who explains why he gave up his citizenship. What should an individual investor do when devising a personal investment strategy? Should you own individual stocks? George Sisti, CFP®, a former U.S. air force pilot and certified financial planner, shares a simple strategy for personal investing. Read George Sisti’s columns on Marketwatch - http://www.marketwatch.com/ and sign up for his newsletter at http://www.oncoursefp.com/

Are you guilty of making these common investment mistakes? Larry Swedroe, director of research at Buckingham Asset Management, gives tips on avoiding investment mistakes and reviews important financial concepts investors frequently forget. Larry Swedroe’s blogs at http://mutualfunds.com/ and http://www.etf.com/ Follow his work here: http://buckinghamadvisor.com/ and on Twitter @larryswedroe One common financial mistake people make is giving their adult children too much financial assistance. Doug discusses how much money you give your children, and should this be at the expense of your future retirement? Get tips on what to do if you think you are falling behind with saving for retirement

James Rickards, best-selling author of The Death of Money and Currency Wars, and editor of Strategic Intelligence, talks about the approaching world economic crisis. Why does James Rickards say that this crisis will “resemble nothing in history”? How can individual investors protect themselves? What is the similarity between these predictions and earthquake science? Why is investing in fine art a good idea? Follow James Rickards on Twitter on @JamesGRickards and at: www.Jamesrickardsproject.com

What are the best ways to save money and manage your investments successfully? Behavioral finance categorizes investors into five different categories. Where are you, and where should you be? Learn why timing the market does not necessarily make you a better investor. In order to save money, you need to make effective financial choices. Professor Terrance Odean of the University of California at Berkeley returns to The Goldstein on Gelt Show to talk about how to make smart financial decisions. He talks about: why living on credit is not a good idea, how to make the right choices when purchasing life insurance, if money can actually make you happy. Follow Professor Odean and his work at: http://faculty.haas.berkeley.edu/odean/ and on Twitter at:@terranceodean

The way that you invest is very individual, as what may be good investment choices for one person may not be appropriate for someone else. It’s easy to find articles about successful billionaires and their investments on the internet. But are articles such as “Top 5 Positions in T. Boone Pickens’ Portfolio” relevant to you since your background and situation are very different? On today’s financial podcast, find out what you need to keep in mind when choosing investments, and why reading about a billionaire’s investments may not be helpful to you. MarketWatch contributor and financial writer Paul Merriman explains how to make investment decisions that aren’t based on emotions. Which are the best sources of financial information, and how can you find a financial advisor you can trust? Read Paul Merriman’s articles and books at: http://paulmerriman.com/ Follow him on Twitter: @SavvyInvestorPM

Kurt Cobb, author, journalist, and expert on energy and the environment, returns to Goldstein on Gelt to discuss the energy crisis. Are natural sources of energy, such as thorium and molten salt, effective alternatives to oil?