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Goldstein on Gelt

Talk Show Replays

The Goldstein on Gelt Show is a global investment and financial planning radio show designed to educate and entertain its listeners with financial strategies and investment tips. Douglas Goldstein, CFP® hosts the weekly show, which can also be heard at www.goldsteinongelt.com, and is the director of Profile Investment Services, Ltd., www.profile-financial.com.

Location:

Petah Tiqwa, Israel

Description:

The Goldstein on Gelt Show is a global investment and financial planning radio show designed to educate and entertain its listeners with financial strategies and investment tips. Douglas Goldstein, CFP® hosts the weekly show, which can also be heard at www.goldsteinongelt.com, and is the director of Profile Investment Services, Ltd., www.profile-financial.com.

Language:

English


Episodes

When Real Estate Investments Turn Sour

3/28/2024
Are you considering investing in real estate? Or perhaps you already have real estate investments in your portfolio? If so, it's crucial to understand the potential risks and challenges that can arise. The following stories of two individuals who encountered unexpected scenarios with their real estate investments provide valuable insights and lessons for anyone navigating the world of real estate. The first case revolves around a client who initially appeared to be a successful real estate investor. He exuded confidence in his portfolio, claiming lucrative real estate deals and assured cash flow from his properties. However, as time unfolded, the reality did not match his optimistic projections. Unforeseen circumstances such as the impact of external factors, including the COVID-19 pandemic, led to a drastic reduction in the expected income from his real estate investments. One of the crucial insights gleaned from this story is the significant impact of underestimating risk and overestimating returns. The client's assumptions about the reliability and sustainability of his real estate income proved to be misplaced, resulting in unanticipated financial strain and the need to reevaluate his entire investment strategy. The second story featured a younger client who had invested $50,000 in a real estate deal in Wisconsin. He initially contemplated withdrawing additional funds from his brokerage portfolio to invest in another promising real estate opportunity. However, after sharing the challenges faced by the first client, he reconsidered his decision. He understood the risk of putting all his eggs in one basket and preferred to stick with a more secure, diversified portfolio. While real estate can be a valuable component of a well-structured investment portfolio, allocating a significant proportion of one's assets solely to real estate can expose an individual to heightened risks and vulnerabilities. The allure of real estate, with its promises of passive income and appreciation, should be balanced with a comprehensive understanding of the potential downsides and the need for diversification. It's vital to approach real estate investments with prudence, ensuring that they complement a comprehensive investment strategy rather than overshadowing or dominating it. By building a diversified investment approach and thoroughly understanding the nuances of each area of your portfolio, you can navigate potential challenges while maximizing the opportunities for financial growth and stability. Consider conducting a comprehensive review of your investment portfolio. Assess the proportion of your assets allocated to real estate investments and evaluate how they harmonize with your overall investment strategy. 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.

Duration:00:07:49

How to Invest for Growth

3/14/2024
Financial planners frequently meet with folks who want to invest for growth. After all, who doesn’t want to see their portfolio grow? But, growth also means capital gains tax. Are there any investments that encourage portfolio growth but have limited tax liability? On today’s show, Doug answers a listener question about investing for growth. “Jeff” asks if there are investments that encourage portfolio growth, but have little tax liability. While an investment advisor, and not a tax advisor, Doug answers several aspects of the question: One way to invest for growth is through a SMA – a Separately Managed Account. Watch a short clip on What is a SMA - Separately Managed Account. 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.

Duration:00:14:34

Getting Ready Financially for Divorce

3/7/2024
Tips for Managing Your Finances During Divorce for a Smooth Transition Divorce can be a daunting and emotional journey, one that is fraught with legal, emotional, and financial challenges. In this post, we'll explore key takeaways Douglas Goldstein discussed on The Goldstein on Gelt Show and delve deeper into essential financial considerations when navigating divorce. Seeking Professional Assistance One of the most critical pieces of advice is to seek professional help when dealing with divorce-related financial matters. Consulting with an experienced lawyer is essential to navigate the legal complexities inherent in divorce proceedings. Additionally, engaging the expertise of a financial advisor is invaluable in assessing the impact of divorce on long-term financial planning. Understanding Expenses and Budgeting Many individuals are often unaware of the actual amount they spend every month. It's crucial to have a clear understanding of your expenses, including routine spending and potential future financial obligations resulting from a divorce. Keeping meticulous records of financial transactions, and anticipating upcoming expenses are essential steps during a divorce. These records serve as invaluable tools for financial advisors and lawyers when negotiating asset division and settlements. Gathering Financial Information Organizing all your financial information is paramount when preparing for divorce. This includes gathering statements from bank accounts, credit cards, retirement funds, investment portfolios, mortgages, and tax returns. Having comprehensive documentation at hand facilitates the process of evaluating assets and liabilities, thus enabling fair and informed decision-making. Avoiding Major Financial Decisions During times of emotional distress like divorce, making major financial decisions may seem enticing as a temporary escape. However, avoiding substantial financial decisions amidst marital discord is imperative. Big-ticket expenses like buying a new house, a car, or making substantial investments can further complicate the financial implications of divorce. Hence, refraining from significant financial commitments is vital for minimizing additional financial strain during a divorce. Building a Reserve Fund Creating a reserve fund is a prudent measure, especially during the tumultuous period of divorce. Accumulating cash reserves safeguards individuals from potential liquidity challenges that could arise during the divorce process. This fund can be instrumental in covering legal fees, and unexpected expenses, and ensuring financial stability during the subsequent transition. Reevaluating Tax Implications Divorce often carries significant tax implications, warranting a comprehensive assessment of tax responsibilities related to asset division, alimony, and child support. Consulting with a tax professional ensures a thorough understanding of the tax implications linked with divorce settlements and financial decisions. Crafting a Long-Term Financial Plan Formulating a robust and realistic long-term financial plan is indispensable post-divorce. This may involve establishing new financial goals, revising investment strategies, and reassessing retirement planning to ensure financial stability under the altered circumstances. Securing Professional and Emotional Support Navigating divorce involves not only financial complexities but also emotional and psychological challenges. A support network comprising legal professionals, financial advisors, and emotional support resources can provide comprehensive assistance during this tumultuous phase. Navigating a divorce is a multifaceted and challenging process, particularly when viewed through a financial lens. Taking proactive steps to mitigate possible financial issues, is pivotal in ensuring a smooth and equitable transition through the complexities of divorce.

Duration:00:10:21

6 Strategies for Happier Investment Decisions

2/29/2024
Behavioral finance is a critical area that merges psychology with finance to understand why people make irrational financial decisions. It’s important to note that people’s emotions, cognitive errors, and biases often drive these decisions, leading to poor investment choices. Being happy while dealing with investments is crucial. Let’s examine some of the psychological aspects of investing and how they can be managed to create a better and less stressful investment experience. Psychological Aspects of Investing Analysis paralysis is a common issue many investors face. With countless investment options available, individuals can become overwhelmed, and as a result, they may not make any investment decisions at all. This can lead to missed opportunities and unproductive financial stagnation. The fear of missing out (FOMO) is another psychological challenge that investors often grapple with. This fear, driven by the desire to replicate others’ financial successes, can lead to impulsive and high-risk investment decisions. Recognizing and managing this fear is essential to avoid detrimental financial choices. Another psychological challenge in investing is placing excessive emphasis on short-term market fluctuations. Reacting emotionally to daily market movements can lead to poor decision-making and can negatively impact long-term investment strategies. For those dealing with cross-border investments, the complexity of managing investments in multiple countries can be overwhelming. Regulatory hurdles, tax implications, and cultural differences in investment philosophies can create significant stress for expatriates and immigrants. Managing Your Stress Investing your money is stressful, but it doesn’t have to be overwhelming. Managing stress effectively can lead to better investment outcomes and a more enjoyable investing experience. Here are some strategies to help lower stress and improve investment decision-making: 1. Simplification and Focus Consolidating and simplifying investment accounts can help you gain a clearer understanding of your financial situation. By focusing on a defined investment strategy, you can avoid being overwhelmed by too many choices and better manage your portfolios. 2. Diversification Diversifying investments is an essential strategy to spread risk and avoid excessive exposure to any single investment. By diversifying across different asset classes and sectors, investors can lower the risk of significant losses caused by a single investment’s failure, thus leading to a more relaxed investment. 3. Develop a Plan Having a clear financial plan can help you stay focused on your long-term objectives and avoid making impulsive decisions based on short-term market movements. A well-defined plan provides a roadmap for achieving financial goals and reduces anxiety about investment decisions. 4. Build a Resilient Mindset Engaging in stress management techniques, such as meditation, physical exercise, or taking regular breaks from financial decision-making, can promote a resilient mindset. A calm and focused approach to investing can lead to better decision-making and reduced emotional reactivity to market swings. 5. Educate Yourself Continuously learning about investment concepts, market dynamics, and financial planning can empower you to make better-informed decisions. Well-informed investors are better equipped to manage their financial stress and maintain a long-term perspective on their investments. 6. Choose a Good Advisor Selecting the right financial advisor who prioritizes understanding the client’s individual needs and goals is essential. A good advisor should focus on building a personalized financial plan aligned with the client’s objectives rather than pitching investment products. Armed with these valuable insights and tips, it’s time to implement them so you can...

Duration:00:21:46

Moving to Israel in Retirement: Financial Planning and Practical Tips for Olim

2/22/2024
Doug delves into the topic of retirement planning and financial considerations for Americans moving to Israel. He shares insights on the practical aspects of living in Israel and the financial implications of the move. Retirement is often depicted as a time of relaxation, but as Doug reveals, many retirees find themselves busier than ever, having the time of their lives. For those contemplating a move to Israel, it's essential to have a well-thought-out plan, especially in terms of financial preparedness. To do this, it’s crucial to seek professional guidance to help you navigate the complexities of cross-border financial matters and estate planning. What should you do now? 1. If you have questions about financial planning and moving to Israel, reach out to a financial professional with expertise in cross-border financial matters. 2. Sign up for both the Goldstein on Gelt and the Profile Investments email lists to receive valuable insights and updates on retirement planning, financial considerations, and cross-border financial matters. By taking these two steps, you can better equip yourself with the knowledge and guidance needed to navigate the financial aspects of moving to Israel and ensure a secure and well-planned retirement. Correction: In this episode, Doug said that you get a 10 year tax holiday in America after making Aliya, when the tax holiday is in Israel

Duration:00:13:22

Understanding RMDs: A Simple Explanation

2/15/2024
Are you approaching the age of 73 or have inherited an IRA account? If so, understanding Required Minimum Distributions (RMDs) from IRAs is crucial. In a recent episode of The Goldstein On Gelt Show, Douglas Goldstein discussed RMDs in detail and answered a listener letter regarding RMDs for inherited IRAs. Here's a summary of the key points to help you navigate RMDs and avoid potential penalties. What Are RMDs? RMDs are the IRS's way of ensuring that the funds in your IRA, which have grown tax-deferred over the years, are eventually taxed. Once you reach the age of 73, the IRS mandates that you withdraw a certain amount from your traditional IRA each year. This amount is determined by a formula based on your age and the total value of your IRA at the end of the preceding year. Inherited IRAs and RMDs If you have inherited an IRA from a someone, you might also be subject to RMDs. In the case of an inherited IRA, the IRS requires beneficiaries to withdraw the entire amount within a specific timeframe, usually within ten years of the original account holder's death. Penalties for Failing to Take RMDs It's essential to stay on top of your RMDs to avoid potential penalties. For instance, failing to take your RMD can result in a 50% tax penalty on the amount you were supposed to withdraw. However, recent legislation has reduced this penalty to 25% or even 10% under specific conditions. Donating RMDs to Charity One strategy to potentially reduce the tax impact of RMDs is to donate the withdrawn funds directly to a qualifying charity. This can potentially help reduce your tax burden while supporting a cause you believe in. What should you do? Seek professional advice to ensure your portfolio complies with IRS regulations, and to make sure you are informed about any changes in relevant legislation. If you're living outside the United States and need personalized financial guidance, reach out to Profile Investments Services, Ltd. Profile specializes in assisting individuals outside the United States with U.S. investment accounts. Subscribe to the Profile and Goldstein On Gelt email lists for more valuable financial tips and updates.

Duration:00:09:31

The Journey to Expatriation

2/2/2024
In "The Journey to Expatriation," we delve into the complex world of expatriation, featuring the real-life journey of a couple navigating the process of giving up U.S. citizenship. Join Doug as he uncovers the emotional, legal, and financial considerations behind this significant decision. Discover how this life-altering choice impacts estate planning, tax implications, and even charitable giving from an IRA. If you've ever wondered about the intricacies of expatriation, this episode is a must-listen. Tune in to gain valuable insights and hear firsthand experiences on this compelling journey. Reach out to Doug Goldstein at Profile Financial for more personalized advice, and make sure to give a 👍 to the “Goldstein on Gelt” show for insightful financial podcasts tailored for life in Israel.

Duration:00:16:16

Don't be a DIYer: U.S. Cross-Border Investments in Israel

1/31/2024
Taking Control of Your Finances or Partnering Up With Experts? A Critical Decision for U.S. Expats Living in Israel! Are you a DIY investor? Curious about the benefits of working with a financial advisor? Join Doug as he discusses the pros and cons of managing your own portfolio versus seeking professional guidance. Discover the importance of expertise, personalized strategies, portfolio diversification, and ongoing support from a financial advisor. Find out why more DIYers are turning to advisors for financial stability and explore how you can make informed investment decisions. If you're considering working with a cross-border financial professional, this episode is a must-watch! Enjoyed learning from this post? Don't forget to share it! Reach out to Doug Goldstein at Profile Financial for more personalized advice, and make sure to give a 👍 to the "Goldstein on Gelt" show for insightful financial podcasts tailored for life in Israel.

Duration:00:09:45

Tax Planning Tips for Americans Living in Israel | Reduce Tax Liabilities and Maximize Savings!

1/25/2024
Yosefa Uber, an expert accountant specializing in American taxes for residents of Israel, sits down with Doug to go over: Resources: Interview guest Yosef Huber provides US tax services for Americans in Israel (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.

Duration:00:17:56

Being a Good Steward of Family Wealth

1/18/2024
Doug discusses what it means to be a good steward of family wealth and how to pass on your financial legacy to future generations. He provides advice for teaching children financial responsibility from a young age and bringing adult children into important financial discussions. Key points: Listen and share now! 🎧 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.

Duration:00:06:52

Are You in Danger of Getting Dropped by Your U.S. Investment Advisor?

1/11/2024
Are you an American living abroad, specifically in Israel, facing difficulties with US brokerage firms terminating your accounts? Join Doug Goldstein, licensed in both the US and Israel, as he sheds light on this ongoing issue and provides expert advice. Discover why compliance with international regulations poses challenges for these firms, leading to account closures. But fret not! Goldstein recommends specialized companies like Profile Investments to help address your financial needs. Stay tuned for more fascinating discussions on the Goldstein on Gelt Show and don't forget to leave a positive review, like, and share with your fellow expats globally. Let's navigate through these challenges together!

Duration:00:06:27

One Common Myth About Receiving a Cross-Border U.S. Inheritance While Living in Israel

1/4/2024
Doug discusses the myth that it is illegal for people who move to Israel or inherit money from the U.S. to keep their investments in American accounts. He explains why this myth exists and how it can actually be beneficial to maintain U.S. investments after making Aliyah or receiving an inheritance. A few key points: 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.

Duration:00:07:12

Year End Financial Planning Tips

12/28/2023
Financial advisors and investment professionals, As we bid goodbye to 2023, let's take a moment to reflect on the state of our portfolios and plan for the new financial year. 📌 Year-End Portfolio Snapshot 💡 Why It Matters ⚖️ Planning for the Future The roller-coaster that was 2023 brought several ups and downs. Let's use the lessons we've learned to make more informed financial decisions in 2024. Let's empower ourselves with awareness and plan strategically for a sound financial future. 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.

Duration:00:05:40

How to Play Nice with the IRS When Transferring Money Overseas

11/30/2023
Living in Israel with U.S. investment accounts? Be careful when transferring money overseas! In this insightful recording, Doug Goldstein, CFP®, GFP®, founder of Profile Investment Services, Ltd., unveils essential tips and best practices for successful cross-border investing. From working with reputable financial institutions to maintaining meticulous records, he shares expert advice on navigating the complexities of transferring money overseas. Key pointers from the show: These are valuable points to consider when dealing with cross-border financial transactions. Please share your thoughts and experiences on this in the comments below. 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.

Duration:00:12:50

Managing Sequence of Returns Risk

11/25/2023
In the world of investing, it's not just about the highs but managing the lows, especially when approaching retirement. Here's why discussing sequence of returns risk is crucial: - 📉 **Volatility Management**: Buying high and selling low is a surefire path to investment failure. It’s important to understand the importance of timing in the withdrawal phase. - 🏦 **Portfolio Diversification**: Balancing your investments with bank deposits, cash, and bonds can help mitigate risks during market downturns. - 🌎 **Cross-Border Considerations**: For those living abroad, integrating financial advice that's specific to your residency and situation, like tax implications, is key. Don't fall victim to sequence of returns risk. Let's pave the way for your secure financial future! 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.

Duration:00:09:51

Investing with Purpose: Understanding the ‘Why’ for Financial Success

11/23/2023
The biggest mistake many investors make is focusing solely on returns without considering why they are investing in the first place. In this insightful recording, Doug shares valuable insights on the importance of understanding the ‘why’ behind your investments. By identifying your financial goals and motivations, you can align your investment strategy to achieve meaningful results. Discover how purpose-driven investing can: Doug also delves into the benefits of solving financial problems today, rather than leaving them for future generations. Tune in to this empowering discussion and design your investment portfolio to reflect your personal goals and beliefs. 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.

Duration:00:12:04

Don’t Get Undercut by Sequence of Returns Risk in Retirement

11/16/2023
In this insightful recording, Doug sheds light on the critical concept of ‘Sequence of Returns Risk’ and its impact on retirement planning. Discover why timing is everything when it comes to investment returns, especially during the crucial early years of retirement. Doug provides expert advice on diversifying your portfolio and shares valuable tips on safeguarding your wealth by allocating a portion of your investments towards more conservative, more liquid assets such as cash, bonds, and bank deposits. Learn how to protect your retirement nest egg and navigate potential tax implications with the help of a knowledgeable financial advisor. 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.

Duration:00:07:15

Shabbat Everyday

11/9/2023
Doug Goldstein is diving into a topic that has been bothering him lately—unrealistic expectations in financial goals. Instead of focusing on sound investment strategies and long-term planning, people are consumed by the desire for quick and massive returns. But is that really the right approach? In this episode, Doug delves into why setting realistic goals is crucial for financial success and how chasing high returns can lead to unnecessary risk. He also shares insights from a recent networking event and discusses the importance of communication in the world of investing. So, sit back, relax, and join us to explore the true value of financial planning on The Goldstein On Gelt Show. 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.

Duration:00:16:15

Access Your Money: Lessons from a Five-Year Inheritance Battle

11/2/2023
How can a lack of estate planning and clear instructions regarding asset distribution lead to family disputes and disagreements? Welcome to another episode of The Goldstein On Gelt Show, where we delve into the world of finance, estate planning, and everything in between. In today's episode, titled "Access Your Money: Lessons from a 5-Year Inheritance Battle," Doug shares a cautionary tale of an individual who faced a frustrating and lengthy ordeal to inherit his mother's assets. Topics include: 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.

Duration:00:14:53

Why Working with a Cross-Border Advisor is Crucial for Olim with US Investments

10/26/2023
What are some specific challenges that Americans living in Israel face when it comes to managing their US investments? How can a cross-border investment advisor assist in addressing these challenges? Doug addresses the importance of understanding what your advisor truly understands about you when it comes to your finances: Doug also shares real-life examples of the risks and challenges faced by Americans living outside the US, emphasizing the need for specialized knowledge in navigating tax issues and financial planning. If you're a cross-border investor or planning to become one, this episode is a must-listen as Doug delves into the importance of working with a cross-border investment advisor who can provide the comprehensive understanding and guidance you need. 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.

Duration:00:14:25