Goldstein On Gelt

Welcome Generation Y! The United States is in the middle of a millennial economy thanks to the largest population boom after the baby boomer generation. What does this millennial economy mean for investors? Our guest, Ken Gronbach, author and demographer, has a very optimistic opinion. Ken, a human capital analytics expert, explains why demographics define an economy. What’s the most important thing for any business to succeed? Quality people! Listen to learn why Ken has high hopes for the American economy and Generation Y. How to choose investments that give you income Download the free resource “Simple Tools for Increasing the Income You Get From Your Investments” and learn potential ways to increase the return of your investments. Doug explains why an investor would want to focus on income-based investments and which investments can be used to supplement your income. Free download: Simple Tools for Increasing the Income You Get From Your Investments To learn more about Ken and demographics, read his books 

If you are like many of my clients, you might not want to take too many risks with investing your money. If you want a “very safe” portfolio, what does this actually look like? Recently, I spoke with a woman who thought she had a “very safe” portfolio… I was shocked to review her statement and saw she was heavily invested in stocks. Typically, investors who want a “very safe” portfolio should NOT be invested in the stock market, but should choose bank deposits for their money. The power of your portfolio comes from knowing what is inside your investment portfolio. "Risk comes from not knowing what you're doing." - Warren Buffet It is normal for someone’s risk profile to change over time. If this happens to you, when was the last time you mentioned your increased/decreased appetite for risk with your investment advisor? Listen to learn what steps you should take to ensure your risk profile and investments are properly aligned.

When making a decision, do you take ALL facts into account – including your “future self?” When most people make a decision it’s hard for them to see the impact of their decision on their “future self” – but this is a critical piece of information to take into account. Professor Hal Hershfield, Associate Professor Marketing and Behavioral Decision Making at UCLA Anderson School of Management, breaks down the reasons why people make poor financial decisions. As a behavioral decision making specialist, his research covers if, and how, better decision making skills can be taught. He cites his findings that people can make better financial choices if they keep in mind their “future self” - the person you will be later on in life. Unfortunately, when the majority of investors are planning their portfolios, they very seldom consider their future self’s needs. Professor Hershfield has some insight on why it is difficult to think about the future. He also has some advice on how to make better financial decisions. Und

Anti-money-laundering rules have become stricter since 9/11, in order to stop terrorism at the financial level. How does AML (anti-money-laundering) legislation affect international investors? David Kuenzi, a certified financial planner with Thun Financial, explains why AML legislation has made opening an American brokerage account from overseas difficult. David clarifies how the Patriot Act has changed the way financial institutions do business with American citizens residing in foreign countries. While it is not illegal for an expatriate to have a financial account in the U.S., a financial institution’s perspective is much more complicated than the legality of the account. David and Doug advise how to find a cross-border advisor who can address your needs. Are you an American citizen living abroad? Doug has a checklist for American expatriates living in a foreign country. If you’re moving to a foreign country, learn how to keep your U.S. Ira and brokerage accounts open after you move. Download this free res

How can couples have better financial communication? Doug defines six ways spouses can keep the lines of communication open. Whether it is discussing money in a certain way or scheduling a meeting with your spouse, Doug’s free resource How to Talk to Your Spouse When You’re Careful with Money and He’s a Spender will keep all of your financial conversations on track. Download free resource: How to Talk to Your Spouse When You’re Careful with Money and He’s a Spender Are your U.S. tax returns in order? CPA Yosefa Huber discusses the importance of making sure your U.S. tax information is accurate. If you are not completely confident in your U.S. tax returns, make sure to see a qualified tax professional. To learn more about Yosefa Huber and how she helps Americans in Israel with their American tax obligations, go to www.hubertaxcpa.com. 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.

Why are many millennials broke? Is there negative cash flow due to circumstances beyond their control or poor money management? Erin Lowry ,author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together, is an American expatriate with an unusual financial perspective. Erin’s international experience made her view the millennial generation through a different lens. Are you guilty of the observations she makes of the broke millennials generation? Learn how millennials can make better financial decisions early on in their career to avoid this financial epidemic. Thank you, Saul, for your letter The Goldstein on Gelt Show listener, Saul, wrote to Doug asking for advice on his personal financial situation. Saul wants to know how you can invest your money and still be able to access it easily. After all, it’s your money and you should be able to use it when you want. Doug offers practical advice for investors about liquidity. Learn more about Erin Lowry on her a website Broke Millennial, or follo

Professional stock researchers can serve as stock pickers for investors who don’t know where to start. Is it better to pick your own stocks or to use a professional stock picker? Tao Wang, a portfolio manager for Alpha Architect, explains how to begin researching stocks. He outlines the differences between value, growth, and momentum stocks. He also emphasizes the importance of having multiple qualifiers when choosing a stock. If you are lost on how to start to build your portfolio, listen to today’s episode. The nine steps to build a good money relationship with your spouse Doug has put together a process called The Secrets of Talking to Your Spouse About Money for couples who need to get on the same page regarding their finances. These steps are down-to-earth suggestions that will make financial discussions a little easier. Free Download: The Secrets of Talking to Your Spouse About Money Tao Wang can be contacted through Alpha Architect. If you’re not already receiving updates on new episodes, sign up now,

Conventional wisdom says that if you want to be in good financial standing, you need to be debt free. However, is all debt bad? If you take into consideration tax breaks and liquidity, can debt be considered financially sound? Tom Anderson, CEO of Supernova Companies and author of The Value of Debt: How to Manage Both Sides of a Balance Sheet to Maximize Wealth, shares his financial philosophy which revolves around balance. Tom argues that debt may have long-term financial gain because debt gives someone liquidity and flexibility. He also breaks down debt into three groups and warns about oppressive debt. Should you pay your mortgage off? Listen to what Tom has to say. Issues widows and widowers need to face in financial decision-making Losing a spouse is life-altering. But does it need to change your financial status? Death opens up unforeseen heartaches, and Doug has created a comprehensive financial guideline for widows and widowers called Answers to Tough Financial Questions for Widows & Widowers. Fre

Want to increase the potential profit on your investment portfolio?  What would happen if you could use disproportionate strength to increase your portfolio’s profits? Then you would be using a strategy called “leverage” or “margin.” In today’s show, Doug, and his son Efraim, talk about the pros and cons of investing using a leveraged strategy. When an investor decides to invest on margin, he is actually borrowing money from his broker in order to have a larger sum of money to invest. That way, if the stock goes up, he makes a larger percentage, and ultimately walks away with a larger sum of money.  If all goes well, an investor can make a lot of money. But, if the market goes down, one can find himself losing more money faster...  Listen to understand why a “long-term investor” needs to understand what a “margin call” is and why this may not be the best strategy for long-term investments. Don’t wake up one day to find out that your brokerage firm sold out your portfolio. Efraim is a business

People hate talking about debt, disability, death, and divorce. And that’s exactly why we need to have a discussion about these four topics. In today’s show, Doug and his son, Efraim, discuss these difficult subjects. Debt When people acquire a large debt, and then suddenly get a large sum of money (inheritance or a raise), should they invest the money or pay off their debt? Listen to learn why paying off all your “bad” debt may be a better move than investing in the stock market.. Disability Is disability insurance necessary in today’s post-corona work environment when many folks work remotely from their house? Young people especially need to understand that if they get hurt, not only do they stop providing income to their household, but they are also an ongoing expense.    Divorce Divorce not only affects the couple’s relationship, but its ripple effects are felt in many areas, including finance. Since divorce isn’t something you wish or plan for, it’s not something you want to have a part o

Investing is more than just throwing money in the stock market. If everyone’s goal was to grow their portfolio, then shouldn’t everyone do the same thing? In this week’s show, Doug and his son Efraim, go through the 6-step checklist that every investor needs to use. Listen to understand why it’s so important to have a goals that match your values and beliefs before you put money in the market. The 6-Step Checklist to Investing √ Set goals for you and your family √ Get the facts about all your holdings and where you are saving money and paying money √ Identify upcoming potential financial opportunities and challenges, in order to prepare accordingly √ Create an actual investment plan that is suitable to your tolerance risk level √ Action! Implement your financial plan √ Review and follow up on a regular basis. Some numbers need to be looked at monthly, quarterly, and annually Need help putting together your financial plan? Don’t hesitate to contact us at profile-financial.com Efraim is a busine

There’s lots of talk about how alternative energy sources are good for the environment, but how does green energy affect the financial markets? Listen to Doug’s discussion with Arie Addi, the tech lead at Mada Analytics, an Israeli startup, supporting alternative energy solutions using a Machine Learning approach. Discover how green energy and fossil fuels have a growing influence on financial markets. If you want to invest in renewable energy, what is the best way? Should you invest in ETFs or individual stocks? Tune in to hear the pros and cons of each. How diversified are individual funds, and what does it mean when a fund is “weighted?” To learn more about Mada Analytics, visit www.madaanalytics.com

Nearly everyone has heard of stocks and bonds, but sometimes investors feel that they could profit more from alternative investments. This week Doug chats with Stefan von Imhof, co-founder of Alts.co, about alternative investments. Stefan believes that alternative investments are a powerful way to grow your money, compared to other investment classes. Learn about active quick flips, passive buy & holds, and cashflow-producing assets. Listen to the show to learn about investments that are on the opposite end of the spectrum… the more conservative, but not boring, Certificates of Deposit (CDs). 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.

Doug discusses his recent meeting with someone who received an inheritance. Not only did the guy receive significant funds, but the inheritance included financial disorganization. The father’s investments were scattered in different companies, private equities, and over 20 physical stock certificates. His investment portfolio was not only big, but a big mess! Both generations’ disorganization caused the inheritor to lose huge sums of money. Listen to find out the 5 things you must do to keep track of your investments. If you’re afraid your own disorganization may be causing you to lose money, click here for an excellent article you can read on the topic. 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.

Listen to this important episode where I discuss the best way for busy investors (like you) to track the markets. Focus on five critical points that need your attention: Focus on interest rates and inflation Review market trends Examine your specific investments Turn to your advisors Review your overall plan Look at how great investors are managing their money in good and bad market by tuning into this episode. These can be the most important few minutes of your day. For more information, visit the show notes at https://goldsteinongelt.com/investing-basics-strategies/the-best-way-for-busy-investors-to-track-the-markets

Major American brokerage firms are closing accounts of clients who don’t have U.S. addresses. They are also closing accounts of clients who use American addresses but don’t live stateside. If you’re like many of the people who’ve recently called my office, you’re probably curious how the firm knew there’s a discrepancy on the account address and where you actually lives? Your IP address (the computer address where you login to access your accounts) may be giving you away. Before bending over backwards to “outsmart” the system, realize that your American brokerage firm wishing you farewell may be a good thing. What could be good about being forced out? Listen to the show to discover one potential tax problem you could avoid by not using a relative/friend’s American address learn the advantages of using a cross-border friendly firm to manage your American investments For more information, visit the show notes at http://goldsteinongelt.com/use-your-real-address-for-your-u-s-investment-account-when-you-live-ove

Are you looking for a way to choose better investments? If so, consider “factor investing.” Professor Elroy Dimson of the Cambridge Judge Business School believes factor investing leads to better results. This is because, he says, if you expose your portfolio to a variety of factors (different from just investing in different industries or sectors), these distinctive attributes have a very important impact on how a portfolio performs. When selecting investments, consider factors like: Sensitivity to inflation Company size High/low dividend yield How to talk to your parents about their finances. Doug shares “10 Secrets to Talking to Your Parents About Money.” It’s hard to discuss money with a parent, but it is essential for solid financial planning. This top ten list is available for people who need help beginning that conversation. To receive your copy of the list, enter your email address here:   (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.crea

If there was a market crash what would happen with your investments? Doug discusses the emotional turmoil and the possibility of real monetary loss in the event of a market crash. Some investors just can’t take the uncertainty of the stock market. But since market crashes are a likelihood that must be taken into, if you can’t tolerate risk, consider more conservative investments. For those who can’t imagine weathering a market crash, Doug suggests some safer options for investing your money. StockX is changing how business is done Josh Luber, co-founder of StockX.com, shares how a stock market based model can be used to sell any luxury item... including sneakers. StockX is the place to find the latest brand name sneakers. He explains the 3 principles of how StockX works and how anyone can use his site to sell a commodity. To check out StockX, visit stockx.com. 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.  

Do your spending habits and investments align with your values? In other words, what do want your money to do for you? Do your habits, practices, and investments reflect that? Sarah Li-Cain, a financial storyteller for High Fiving Dollars explains the importance of knowing what you value as an investor. Sarah and Doug discuss how to identify your values and how to be mindful about what you do with your money. If your spending habits and investments don’t help you meet your goals, then a realignment is in order.   What should you do if you inherit money from the United States? If you find yourself at the receiving of an inheritance, what should you do next? If you inherit money from America, there are different consideration than receiving an Israeli inheritance. An inheritor of American investments (especially a beneficiary of an IRA) need to know what to do next. Doug has some questions to ask your cross-border financial advisor to avoid unnecessary taxes and overall general headaches. To learn more about Sa

Good communication skills can not only bring a couple closer together, but can also improve their finances! A conversation is a two-way street. It is OK if you don’t see eye to eye with your spouse. Talk, explain your position to your spouse. And then stop… and listen to what your spouse says. There are two things which can directly impact your family’s financial success:  1. Good communication skills 2. A working budget Listen to this podcast for more specific tips in how good communication skills can improve your finances. Send me a selfie of you and your spouse listening together!