Professor Gary Becker, 1992 Nobel Prize Winner in Economics, shows you how to apply economic theory to family finance. Learn new ways you can make sound financial decisions, and resolve family conflicts about money.
What is “loss aversion,” and why does it cause investors to make mistakes? Professor Daniel Kahneman, winner of the Nobel Prize for Economic Sciences in 2002, is well known for his work on the psychology of judgment and decision-making. Find out what loss aversion is, why overconfidence can be bad for investors, and how to avoid making financial mistakes.
Many investors use “financial forecasting” and base their investment strategy on what they think might happen in the markets. Is that a good idea? Roger Whitney, CFP®, host of The Retirement Answer Man podcast, and Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., discuss the problems with choosing investments based on predictions of what might be. Learn the difference between assumptions and forecasts and find out what you should look for in both the short and long term. S...
Market trends are often reflected in indices, like the Dow Jones Index or the S&P 500. But what about an index based on social media? Douglas Goldstein, CFP®, a financial advisor specializing in cross-border investments, discusses the BUZZ Index, an index based on social media statistics, with its founder, Jamie Wise. Find out how the BUZZ Index works and why people may be more inclined to tell the truth on social media platforms than in polls. Why you and your spouse need to talk about mone...
Spousal U.S. social security benefits can add up, so if you are divorced (or know someone who is), make your claim accordingly. Devin Carroll, financial advisor at Carroll Investment Management, discusses with cross-border financial planner Douglas Goldstein, CFP®, the effects of divorce and remarriage on Social Security benefits. Find out why women in particular should research what they may be entitled to when they retire, whether single, married, or divorced. Depending on your situation, it m...
"Cheapskate" isn't necessarily a pejorative term, as cross-border financial planner Doug Goldstein, CFP®, finds out when he interviews Jeff Yeager, author of How to Retire the Cheapskate Way: The Ultimate Cheapskate's Guide to a Better, Earlier, Happier Retirement . Learn why cheapskates rarely suffer from “buyer’s remorse,” and get tips for how to teach children the advantages of delayed gratification. Follow Jeff Yeager at www.ultimatecheapskate.com and on Twitter @JeffYeager How using a check...
Why did Bituach Leumi decide to give Israeli children free money? Douglas Goldstein, CFP®, a licensed investment advisor who helps people meet their savings goals, speaks with Professor John Gal, chair of the Social Welfare Policy program at the Taub Center, about the program to alleviate child poverty. Professor Gal discusses how the program works and whether it will be successful in giving children a head start in life. Will the new program encourage increased savings? For an article about the...
Douglas Goldstein, CFP®, a financial advisor who helps people preserve the real value of their money, questions how safe it is for people to put money in the bank. Professor William Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City and author of The Best Way to Rob a Bank is to Own One: How Corporate Executives and Politicians Looted the S&L Industry , discusses bank safety and explains why OECD nations insure bank deposits. How does this insurance wor...
Many people believe that the typical "white coat investor," i.e. a doctor, surgeon, or dentist, must be wealthy due to the relatively high salary medical professionals earn. Dr. Jim Dahle, author of The White Coat Investor: A Doctor's Guide to Personal Finance , explains why this is not always the case. Many professionals are not financially astute, and they have no idea how to manage their money or prepare for retirement. Dr. Dahle discusses how to manage the financial jump from living on a low...
Although budgeting is an important part of personal finance, the real key to building wealth is to make more money. Matthew Paulson, author of The Ten Year Turnaround , discusses why you should think out of the box when deciding on a profession rather doing what seems easiest. Find out how giving charity can change the way you perceive money and help you to earn more. Can international investors own a trust? Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., explains how new...
Investing wisely is more than just choosing high-yielding investments and optimizing your asset allocation. Dan Solin, New York Times bestselling author of The Smartest Retirement Book You'll Ever Read and columnist in The Huffington Post , shares tips about investing wisely and how to plan your estate so that your spouse is financially safe when you pass away. Avoid Outliving Your Retirement Nest Egg No one wants to outlive their money. Creating a financial plan is one of the best ways of makin...
Douglas Goldstein, CFP®, a financial advisor who helps Americans living in Israel manage their investments, discusses the benefits and risks of using a credit card with Jason Steele, an expert in the credit card industry. Find out how credit cards really work, and who benefits from your credit card purchases. Can consumers benefit from points and reward schemes without falling into debt? Will the Trump Administration cause the markets to crash? Now that President Trump is Commander in Chief, we ...
Doug meets James Clear, entrepreneur and expert on personal habits. How easy is it to change your behavior to achieve your goals? And how can you improve your financial habits if they are deeply ingrained? Listen to your favorite personal finance show for the answers to these questions and more.
David Bach, author of Smart Women Finish Rich, talks about the “latte factor” and why women need to be in control of their finances. And is it too late to plan for retirement? Find out more on your favorite personal finance show.
What are the habits of the rich, and can they help you to succeed? On this week's show, Tom Corley, financial planner and author of Rich Habits: The Daily Success Habits of Wealthy Individuals, discusses the lifestyle of the rich. Does wealthy always equal healthy, and how do your personal relationships affect your financial success?
Meet legendary author and expert on lateral thinking Edward de Bono. What is lateral thinking? And what is the logic behind his famous book, The Six Thinking Hats? Find out which hat you're wearing.
This week, Julie Deane, founder and president of the Cambridge Satchel Company, returns to The Goldstein on Gelt Show. Find out how her company has mushroomed in the past twelve months, how Julie came to join British Prime Minister David Cameron on a trade delegation to China, and what the future may hold for the Cambridge Satchel Company, a business that originally began in the Deane family kitchen with just £600! And don't forget to listen to all of your favorite financial tips and tricks on t...
Financial resolutions are easy to make, but difficult to keep. In order to reach your financial goals, try using these ten investment strategies. Tune into the financial podcast to follow the countdown and learn about effective financial strategies.
Deciding between renting or buying a home is a difficult calculation. How can we balance the quality of life with financial risk? Doug deals with this issue on today’s show when he answers a listener’s question on how much money he should invest in buying an apartment. There are many advantages and disadvantages with renting or buying a home. Find out what all the considerations are, including the common pitfalls of buying a home. Takeaway: it depends on balancing today’s quality of life against...
Should the Nobel Prize in Economics be given to the person who can discover a way to invest for maximum return but little risk? Can you invest for a maximum return and with a conservative stance? Doug examines both of these concepts on this week’s show, giving advice on how to make smart investment choices. Listen to the whole show to get a link to a video clip (free) that can help you determine the proper asset allocation model for you. Today’s guest, Professor John Palmer of the University of ...
Many investors are concerned about the economy's prognosis. Is there an investment that can withstand economic turmoil and provide returns for investors? Exchange-Traded Funds (ETFs) are popular among investors and professionals. On today's show, find out what ETFs are and learn: What are the underlying assets within ETFs? How do they trade? What are the costs involved? Professor Donald J. Boudreaux of George Mason University explains why he is optimistic about the economy despite a nearly $20 t...
Is the recent market volatility a sign of hard times ahead? It depends who you ask. Some experts say the market's recent decline is a buying opportunity, while other analysts see it as the beginning of a bigger decline. Doug analyzes the options and shares the opinions of analyst Andrew Roberts (Royal Bank of Scotland) and previous Goldstein on Gelt guest Kimberly Foss. How should their forecasts affect you and your investments? While analysts debate whether recent market swings makes an efficie...
What happens if you have several children and many expenses to cover? Even if you work hard, the bills can seem never-ending. In today’s show, Doug answers a listener’s question on how to balance your budget and pay the bills. Learn 3 ways to help reduce debt and spend less money so that your paycheck lasts until the end of the month. Professor Aaron Ciechanover of the Technion–Israel Institute of Technology in Haifa, winner of the 2004 Nobel Prize in Chemistry, talks about the ubiquitin system ...
Comprehensive financial planning includes cash-flow, investments, and insurance. Are you properly insured? Doug answers a letter from a listener who asks about private insurance policies. How can you determine the most appropriate insurance policy, and make sure your pension plans are properly set up? Don’t forget the legal implications of your financial planning and insurance decisions. Veteran lawyer Ely Rosenzveig explains the legal pitfalls of retirement planning, why women have different le...
What is the best way to invest an inheritance so that its value can grow? Doug answers this question as well as giving tips on how to save money by automating your savings. And today’s guest is legal expert Timothy Sandefur. Find out what the status of “eminent domain” is and if local governments are abusing the power they have to confiscate land and property. Should you invest in real estate if the government could take it away? Follow Timothy Sandefur’s work at the Goldwater Institute here – h...
Market volatility leads many investors to make a big mistake when planning their finances. Learn how to avoid the most common investing mistakes. How can you make time work to your advantage, both in your investment portfolio and life in general? In today’s interview, Jeff Sutherland, former fighter pilot and author of Scrum: The Art of Doing Twice the Work in Half the Time , shares his unique model for achieving goals quickly and efficiently. Apply this model to personal finance, and get tips o...
Is it best to manage your money by yourself or to use a money manager? Today’s show discusses money managers: how can you measure a money manager’s success? Would you be better off buying an index fund? One of the biggest worries that investors have is market uncertainty. David D. Holland, radio host, author, and financial planner, returns to The Goldstein on Gelt Show to talk about the factors that cause fluctuations in the markets. How does the energy industry affect the economy, and what are ...
Does investing in rental property lower the risks posed by market volatility? Doug discusses the advantages and disadvantages of investing in the rental property market in the United States. Renting out a property involves challenges, such as finding responsible tenants, handling repairs, adhering to building and safety codes, and much more. Find out how to invest in property without all the hassles of being a landlord by purchasing a REIT (real estate investment trust). Are you worried about ma...
Who will control your finances if you lose your ability to make decisions? Many senior citizens suffer from memory loss, dementia, and other cognitive disorders as they age. The Alzheimer’s Society recently issued a report about the vulnerability of dementia sufferers to financial abuse and the need to protect them. Today’s show is devoted to aging and finance and what to do if you, your spouse, or your parents suffer from any health issues that affect their ability to make wise financial decisi...
How do dropping in oil prices, economic changes in China, and inflation affect your financial plan? What is the best way to respond to market volatility? On today’s show, Doug discusses what causes market fluctuations, and what economic changes really mean for your financial plan. Also, sample the new financial podcast " 4-Minute Money Ideas" This financial podcast is the audio version of Doug's articles in The Jerusalem Post . Today’s discussion is about "What Should You Do When You Get an Inhe...
