In an unexpected twist, corona and the economic turndown may turn out to be a good thing for your pocketbook. Even though you may be required to take distributions from your IRA account, as part of the U.S. economic stimulus package, Uncle Sam is allowing people to skip their 2020 required minimum distributions (RMDs). This means that you may not have to sell your stocks at historic lows in order to raise cash to withdraw and pay taxes. Listen to this podcast for an explanation....
Apr 23, 2020•7 min
Everybody wants to make more money in investing, but do you really need to? Investing is a personal choice that you should be able to customize to your own needs. Some people invest for growth while others just want to maintain their principal. Financial journalist Miranda Marquit shares her own investment challenges. Miranda describes the life of a freelancer and how saving money can be difficult. She explains her money saving approach as well as why index investing fits her needs. The 3 rules ...
Apr 16, 2020•23 min
Traditionally people feel that the bond market is a safer place to put money than the stock market. But recent swings in the market have highlighted the risks of both the bond and stock markets. Listen to this timely podcast I on what is happening with the bond market, and why bond prices might drop. Should you buy or sell bonds now? And remember while maintaining bans on social distancing and quarantine guidelines, it is imperative for all of us to strengthen our social bonds however we can. Pl...
Apr 02, 2020•16 min
Tim Prosch, author of The Other Talk , discusses why he wrote his book. The Other Talk refers to the conversation every parent should have with their adult children about their end-of-life wishes. It’s hard to have these conversations, and Tim’s book is meant to be a catalyst to begin this important dialogue. You’ll hear the negative consequences of what may happen if you avoid this talk, and get practical pointers on how to get the discussion rolling. Invest for your children’s future Are you t...
Mar 26, 2020•24 min
Doug speaks about the corona virus, the global economy, market volatility, and your investment allocation. Despite the ban on amusement parks, we are on a roller coaster ride. Buckle up, and tune in for this special update. Full disclosure: I washed my hands before recording this episode.
Mar 19, 2020•11 min
Do you own stocks, and if you do, do you understand stocks? Some people don’t even know they own stock! For instance, if you are a mutual fund owner, you might also own stocks. Since you may be a hidden stock owner, it’s important to understand how stocks work. Doug explains what a stock is, how to pick the right stock for your portfolio, and how “price earnings ratio” affects stock prices. Jackson Grant Investment Advisors Chief Investment Officer, Julie Jason, joins the show to discuss how to ...
Mar 12, 2020•24 min
The Retirement Answer Man Roger Whitney shares his insights on investment risk and how having the right retirement plan makes all the difference. Life is messy, and you can’t always prepare for a crisis. Roger explains his “barbell strategy” of investing and offers a lot to think about while you build your portfolio. What is the meaning of “risk” in the investment world? Doug and Roger explore this question and the answer might surprise you! Risk is a key ingredient in investing, and Doug and Ro...
Mar 05, 2020•20 min
Do you agree with the pundits who predict a global market crash? Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., and Joe Saul-Sehy, host of the Stacking Benjamins podcast, discuss what should take priority: planning for retirement or planning for potential economic disaster? Should your estate plan include a trust? Is creating a trust appropriate for your estate plan? Learn about the ramifications of trusts on probate, inheritance, and maintaining control of your assets. ...
Feb 27, 2020•21 min
Spending money can be an educational experience. Joe Saul-Sehy, host of the Stacking Benjamins podcast, and Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd., discuss how to turn a shopping trip into an enjoyable personal finance lesson. Find out how to teach your kids how to make better choices about spending money. Should you ask a financial advisor for references? When a professional provides client references, will you get an objective opinion? Douglas Goldstein, CFP®, e...
Feb 20, 2020•19 min
Did growing up during the 2008 recession cause millennials to distrust the financial system? Millennial financial expert Amanda Abella, author of Make Money Your Honey , discusses the unique issues facing millennials with Douglas Goldstein, CFP®, director of Profile Investment Services, Ltd. Why do so many young people have financial fears? How can they overcome them and begin investing? Find out what millennials need to know in order to plan for the future. Don’t use email for financial transac...
Feb 13, 2020•24 min
How much does your address affect your chances of reaching financial independence? Personal finance blogger Pauline Paquin discusses the importance of considering where you live when deciding upon retirement. She tells cross-border financial advisor Douglas Goldstein, CFP®, why she moved from her native France to Guatemala. Find out which financial steps you need to take if you relocate before retirement. Find your magic number to reach retirement Is there a magic amount of savings that enables ...
Feb 06, 2020•22 min
Good investment advice reflects the big picture, taking into account an investor’s goals. Eric and Wendy Nissan, co-founders of DIY.FUND, discuss with Douglas Goldstein, CFP®, why investors – and their advisors -- need a holistic approach to managing money. Find out why practicing trading with investment simulation games won’t help you deal with the reality of working with the financial markets. What is the hardest part of personal finance? The hardest part of investing is not being able to pred...
Jan 30, 2020•21 min
Is there a way to be certain that you will always have enough money to follow the retirement lifestyle of your choice? Personal finance commentator Jane Bryant Quinn, author of How to Make Your Money Last: The Indispensable Retirement Guide , explains why there is no magic formula for retirement planning and how one of the keys to making your money last is to “right-size” your expectations. Can the economy change for the better? Doug Goldstein, CFP®, talks about looking at the longer-term view o...
Jan 23, 2020•30 min
As life expectancy continues to increase, what can you do to make your money last longer? Douglas Goldstein, CFP®, cross-border investment advisor, speaks with Steve Vernon, researcher at the Stanford Center for Longevity and author of Money for Life: Turn Your IRA and 401(k) Into a Lifetime Retirement Paycheck and Recession-Proof Your Retirement Years . Get an overview of the various long-term income options available to you when you retire. Three things to do in 2017 to become financially secu...
Jan 16, 2020•21 min
As time is a valuable commodity, why do people undervalue it? Roger Whitney, CFP®, host of The Retirement Answer Man podcast, discusses the connection between saving time and saving money. Find out why spending hours just to save a few dollars can cost a fortune in the long run. Is it fair to say investing in stocks is like gambling? Financial planner Douglas Goldstein, CFP®, and guest co-host Linda P. Jones, host of the Be Wealthy and Smart podcast, talk about placing bets, beating the odds, th...
Jan 09, 2020•18 min
How can you boost your credit score? Liz Weston, columnist at NerdWallet and author of Your Credit Score : How to improve the 3-digit number that shapes your financial future , explains why your credit score is important, what it’s used for, and how to build it. Learn responsible ways to use a credit card, so it won’t hurt your credit rating. How to invest in a low-interest environment Doug Goldstein, CFP®, discusses how investors can lose money by leaving it in the bank. Why are low interest ra...
Jan 02, 2020•24 min
Does your teen know how to balance a checkbook or other basic points of financial literacy? Mindy Ajzner, founder of Chaim BePlus, an organization that teaches personal finance skills to young people, discusses what teenagers need to know about keeping track of their money. Many teenagers have no idea about how banks work, budgeting, or bill paying, and as a result can fall into the cycle of debt from an early age. Learn how to become fiscally responsible with a personal mentor. Listen to the po...
Dec 26, 2019•20 min
How does retiring in Israel compare with retiring in other countries? Liora Bowers, director of Policy Analysis at the Taub Center for Social Policy Studies in Israel, explains why retirement planning in Israel is based on work-based pensions rather than on relying on bituach leumi . Find out why most Israeli retirees have better health coverage than they would in the United States, and what you need to know about nursing care for the elderly. How can you benefit from economic growth? As living ...
Dec 19, 2019•20 min
Cyber crime is on the rise. How can you keep your money safe? James Lyne, global head of security research at the security firm Sophos, explains how to protect yourself and your money against the malicious codes that hackers create every day. Discover: Why individual investors are targeted more often than banks and large companies The most common tactics that cyber criminals use What could happen if a scammer steals your email login and password What should you do at the end of the fiscal year? ...
Dec 12, 2019•27 min
It is possible to achieve financial freedom after a string of failures. Nearly every successful entrepreneur and investor has a “failure story” to tell. John Lee Dumas, host of the Entrepreneur on Fire podcast, explains the difference between using failure to make a comeback and giving into despair. Learn how to persevere and use your failures to build success. Listen to get guidance on how to handle business partnerships and your marriage when money problems strike. How to handle your money whe...
Dec 05, 2019•32 min
Is being frugal the best way to ensure financial stability? Steve and Annette Economides, authors of America’s Cheapest Family Gets You Right on the Money , show how frugality can be fun, and why avoiding debt is the best tactic for financial stability. Discover how the Economides family became known as “America’s Cheapest Family.” How to create a solid financial foundation for your family Building a financially secure home is a family matter. Show host Doug Goldstein, CFP ® and his wife, BatShe...
Nov 14, 2019•23 min
Economist Arthur Laffer, creator of the "Laffer Curve" and author of Return to Prosperity: How America Can Regain Its Economic Superpower Status , explains why high taxes don't necessarily produce more income for the government. Find out why the next U.S. government should consult with the Laffer Curve in order to create prosperity and growth. How should you invest to increase income? Governments can increase income through taxation, but individual investors need to think about others ways to ge...
Nov 07, 2019•24 min
Teaching teens to be financially responsible is one of the most important jobs a parent can do. How can you present budgeting, saving, and other financial concepts in a way that teenagers can relate to? Tamsen Butler, author of The Complete Guide to Personal Finance for Teenagers , explains why it’s important to talk to your children about money from an early age and how giving teens an allowance helps them learn basic financial concepts. Should a volatile market worry investors? Should a volati...
Oct 31, 2019•19 min
Behavioral finance, or the psychology of investing, explains how and why people make money decisions. John R. Nofsinger, professor of finance at the University of Alaska and author of The Psychology of Investing , describes the biases that can cause investment failure and gives tips on how to avoid making investment mistakes. Why does emotion play a role in financial decision making, and why is it so important to keep track of the bigger picture?< While behavioral finance dictates how individ...
Oct 24, 2019•21 min
Modern Portfolio Theory is important strategy that many financial advisors use to minimize risk and maximize returns for their clients . Today's guest on The Goldstein on Gelt show is Dr. Harry Markowitz, winner of the 1990 Nobel Prize for Economics, who invented Modern Portfolio Theory. Find out what Modern Portfolio Theory is and why it is has become the cornerstone of financial planning. Dr. Markowitz advises how to navigate today's turbulent markets. How does Modern Portfolio Theory compare ...
Oct 17, 2019•24 min
What should you think about when making an investment decision? David Stein, host of the Money for the Rest of Us financial podcast, explains what you need to consider when making decisions about your money. Learn how to measure an investment’s performance, and find out how you should react to a volatile market. What makes stock values rise and fall, and how should these influence your investment decisions? Doug Goldstein, CFP® explains the influences behind the stock market, and how to respond ...
Oct 10, 2019•24 min
Kiplinger’s columnist Jane Bennett Clark explains why your retirement plan should include doing a “test retirement” to see whether your retirement goals are feasible. Make sure to include practical issues, such as where you will live, what you will do, and what your sources of income will be, in planning for retirement. Should you invest in the stock market when you retire? Doug Goldstein CFP® explains the nature of investing in the stock market and why trying to double your money at a casino is...
Oct 03, 2019•21 min
Coach Todd Tresidder shares how he retired at the age of 35. He discusses effective retirement investing strategies and compares owning a piece of real estate to investing in REITs. Although past performance is not a guarantee for future returns, there are useful financial lessons that you can learn from looking at how people have handled certain market situations in the past. Doug Goldstein, CFP® talks about the most common investing mistakes, and how to avoid them. Follow Todd Tresidder at htt...
Sep 26, 2019•24 min
Parents often want to give financial assistance to their children. How much should parents give, and what’s the best way to do it? On today’s show, Doug Goldstein, CFP® examines generational giving. Learn about the tax considerations involved in gifting money to your children, and how the wrong kind of assistance can make your children more dependent on you and less able to manage their money. Apart from the issue of helping your children financially during your lifetime, is it important to leav...
Sep 19, 2019•30 min
Why do intelligent people make irrational decisions about their money? Financial writer Emily Guy Birken, author of The 5 Years Before You Retire , explains impulsivity in making financial decisions. Can you protect yourself against financial scammers, who thrive on their victims’ irrationality, and keep your finances safe? Did you inherit your parents’ irrational financial decision making gene? Are you able to discuss managing their finances with them? Financial advisor Doug Goldstein, CFP® sha...
Sep 12, 2019•23 min
