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...
Feb 15, 2024•10 min
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-l...
Feb 02, 2024•16 min
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 adviso...
Jan 31, 2024•10 min
Yosefa Uber, an expert accountant specializing in American taxes for residents of Israel, sits down with Doug to go over: Qualified Charitable Distributions (QCDs) allow you to donate money from your IRA directly to charity tax-free instead of taking required minimum distributions To qualify, the money must go directly from your IRA to the 501(c)(3) charity - You can donate up to $100,000 per year per individual this way Benefits: Helps you meet your required minimum distribution without paying ...
Jan 25, 2024•18 min
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: The importance of passing on not just money, but also financial values and responsibility to heirs Pitfalls of relying solely on professional trustees to manage family money long-term Even a perfect trust doc...
Jan 18, 2024•7 min
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 tu...
Jan 11, 2024•6 min
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: It is absolutely legal for Israelis to keep money and investments in U.S. accounts like brokerage, bank, IRA, etc. Some big U.S. firms ask Israeli clients to leave due to bureaucrac...
Jan 04, 2024•7 min
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 Understanding the precise value of your portfolios is essential. An approximate ballpark isn't adequate. Need clarity? Look it up. Update any impending changes that can affect your investments, such as income alterations, revised gifting plans or fluctuating portfolio values. 💡 Why It Matters...
Dec 28, 2023•6 min
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: Make sure to report a...
Nov 30, 2023•13 min
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 dow...
Nov 25, 2023•10 min
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: Foster family connections Support charitable causes Leave a lasting leg...
Nov 23, 2023•12 min
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 ...
Nov 16, 2023•7 min
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 ...
Nov 09, 2023•16 min
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...
Nov 02, 2023•15 min
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: Why, as a cross-border financial planner, working with an advisor who understands both your situation in Israel and your investments in the United States is crucial. The limit...
Oct 26, 2023•14 min
How do you think Bill Gates' financial advisor would have advised him regarding the concentration of his wealth in Microsoft stock? Welcome to another episode of The Goldstein On Gelt Show with your host, Douglas Goldstein. In this episode, Doug dives into the topic of over-concentration in investment portfolios. He discusses: The risks and little benefits associated with being heavily invested in one or two positions The importance of diversification and the potential consequences of neglecting...
Sep 28, 2023•11 min
When you choose to go on vacation, you're prioritizing experiences over money in the bank or investments. It's a value decision. But that doesn't mean you shouldn’t invest in experiences with your family or put all your money in the stock market! Let's talk specific goals and why you should always start with why. Join host Douglas Goldstein as he shares important financial insights he uncovered during his recent family vacation. When planning a vacation, we often make value decisions, prioritizi...
Sep 21, 2023•10 min
In what ways does Rosh Hashana impact our financial situations for the coming year? Doug explores the connection between Rosh Hashana and your financial future. Discover how the decisions made on this auspicious day can impact your investments and money matters for the entire year. You’ll uncover the fascinating concept of predetermined finances and learn how your choices can shape your financial destiny. Doug also shares insights on the importance of giving back, with a special emphasis on the ...
Sep 14, 2023•10 min
Are you an entrepreneur looking to run a thriving business in Israel? 🇮🇱 Then you don’t want to miss this episode of The Goldstein On Gelt Show with host Douglas Goldstein. In this episode, Doug shares his top 5 tips for business management in Israel that will take your company to the next level. From the importance of networking and building connections to navigating the complex world of taxes, Doug dives deep into the key strategies every business owner needs to know. Plus, discover: The cri...
Sep 07, 2023•12 min
Americans living abroad still need to pay U.S. taxes, so if you are an oleh , it might be a good idea to find an American CPA in Israel. Why would an American CPA in Israel be better than hiring an American CPA who sits in America? Yosefa Huber, an American CPA in Israel answers this very question. She helps American citizens living in Israel stay compliant with U.S. tax laws. Yosefa explains why American citizens, even those living abroad, aren’t exempt from filing a U.S. tax return. She also d...
Aug 24, 2023•22 min
Have you recently received an inheritance? Did you inherit a brokerage account, an IRA, a bank account, real estate, or property in Israel? Receiving an inheritance can be complicated. Each type of asset has its own way of being passed onto the heir. Inheriting an IRA is different than inheriting other assets, and in order to maintain the tax-beneficial status the paperwork needs to be done in a specific manner. Download the free resource, “What You Need to Do After You Inherit an IRA” which sum...
Aug 10, 2023•15 min
Is investing in the global economy really that important? Andrew Vonnegut, author of Inside the Global Economy: A Practical Guide , is an expert in global economics. He explains why global economics should matter to individual investors. Events like wars and market crashes affect every corner of the world. How can investors best prepare for the ripple effect to reach their portfolio? Andrew gives practical advice on how to pick investments in an ever-changing global economy. If you ever wondered...
Jul 20, 2023•18 min
Stock market bubbles have a way of putting the financial world into on edge as they try to attempt to predict when it will burst. Is there a way to predict a bubble? Bubbles transform entire industries including the technology bubble of the 1920s and the 1990s transformed entire industries. Are we on a cusp of another bubble? William Goetzmann, a Professor of Finance at the Yale School of Management, researches the phenomenon of market bubbles. He explains the characteristics of a bubble and the...
Jul 13, 2023•21 min
Is the corporate world an ‘insiders only’ club, or do ordinary shareholders have a real say in the company? Learn how shareholder activism may be changing the face of corporate America. Jeff Gramm, a portfolio manager at Bandera Partners, adjunct professor at Columbia Business School, and author, discusses what shareholder activism means for companies in the long run. Jeff gives examples of how shareholders can make significant changes to a company’s board of directors. How shareholders can have...
Jun 29, 2023•23 min
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 Ameri...
Jun 15, 2023•24 min
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 ...
Jun 01, 2023•8 min
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 specia...
May 18, 2023•21 min
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 countri...
May 04, 2023•23 min
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 o...
Apr 20, 2023•15 min
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...
Mar 30, 2023•23 min
