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 ...
Dec 30, 2016•25 min
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 fi...
Dec 30, 2016•28 min
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 the...
Dec 30, 2016•21 min
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 fo...
Dec 22, 2016•30 min
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 Due to a class action lawsuit, the Windfall Elimination Provision (WEP) is no longer applicable to pensioners who receive bituach leumi .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 w...
Dec 22, 2016•21 min
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 tra...
Dec 22, 2016•24 min
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...
Dec 22, 2016•25 min
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...
Dec 22, 2016•25 min
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 m...
Dec 22, 2016•21 min
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 expla...
Dec 22, 2016•25 min
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...
Dec 22, 2016•22 min
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, ...
Dec 22, 2016•28 min
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 counsel...
Dec 22, 2016•26 min
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 t...
Dec 22, 2016•25 min
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...
Dec 22, 2016•21 min
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 in...
Dec 22, 2016•23 min
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. Dou...
Dec 22, 2016•22 min
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.co...
Dec 22, 2016•26 min
What are the best ways to save money and manage your investments successfull y? 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. ...
Dec 22, 2016•27 min
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...
Dec 22, 2016•19 min
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?
Dec 22, 2016•23 min
Tom Corley, author of Rich Habits: The Daily Success Habits of Wealthy Individuals and Rich Kids , talks about the habits that self-made millionaires learned from their parents. How can you teach rich habits to your children, even if you are not wealthy yourself? What are the most important financial lessons that your children can learn from you? Why are wealthy people less likely to gossip? Follow Tom Corley and his work here: www.richhabits.net...
Dec 22, 2016•25 min
In the second part of the show, Doug introduces a new podcast about chess and investing that is connected to his upcoming new book Rich as a King, which he is co-authoring with Grandmaster Susan Polgar. Find out how the tactics used in chess can help you become a better investor – even if you’ve never played chess in your life.
Dec 22, 2016•23 min
ETFs (Exchange Traded Funds) are a popular investment tool. Today's show is devoted to ETFs and gives you an idea what these investments are and how they work. Instead of a guest interview, get a taste of a financial podcast with a twist. The Rich As A King financial podcast is based on Doug's bestselling book, co-authored with Susan Polgar, Rich As A King: How the Wisdom of Chess Can Make You a Chess Grandmaster . Doug also discusses how he manages his own money, providing a link to a 4-minute ...
Dec 22, 2016•20 min
Harry S. Dent, Jr. is the founder of Dent Research, an economic forecasting firm specializing in demographic trends and author of The Demographic Cliff: How to Survive and Prosper During the Great Deflation Ahead . Discover why the study of demographics so important for predicting the economic future. What's the connection between demographics and economic forecasts? What is the geopolitical cycle and how does it affect markets? What are inflation and deflation, and what lies ahead in the near f...
Dec 22, 2016•24 min
In today's show, Doug talks about investing in technology. Despite the risks involved in technology investments, there may be subdomains within technology that can be good returns. A few of the big picture domains include: Semiconductors or chips: basically, anything that has a chip inside. This industry is worth millions, if not billions, of dollars. Software: from Facebook to Twitter to your operation system, everything runs on a code that someone wrote. When investing in technology watch out ...
Dec 22, 2016•28 min
The U.S. Social Security Administration redefined WEP and bituach leumi , so that people in Israel may receive more Social Security. Doug explains the changes in WEP, and warns about being complacent. Social Security is one of the tools in the fight against poverty, but why are there so many poor people? 2015 Nobel Prize Winner in Economics, Professor Angus Deaton, author of The Great Escape: Health, Wealth, and the Origins of Inequality , provides some interesting answers. Professor Deaton desc...
Dec 22, 2016•28 min
Should you invest in emerging markets like China and Brazil? The rapid economic growth and rising stock prices in emerging markets may look enticing, but don’t ignore the high risks involved. Consider diversifying investments into mutual funds, ETFs, and ADRs, or even a separately managed account (SMA). For an in-depth discussion of investing in the Russian emerging market, Doug speaks with former world chess champion Garry Kasparov. After he retired from professional chess in 2005, Garry became...
Dec 22, 2016•24 min
How can you invest for retirement in a low-interest rate environment? One answer is to invest in bonds. Learn why many retirees choose to invest in bonds, what the risks are, and how to buy them. Investing in a bond fund can help diversify your portfolio. This week’s Goldstein on Gelt podcast gives a link for a video about bond laddering and an article that explains how bond funds can increase your portfolio’s diversification. Professor Burton G. Malkiel of Princeton University, bestselling auth...
Dec 22, 2016•28 min
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 r...
Dec 22, 2016•27 min
