Estate planning may sound like a snooze, but there’s one powerful document you can’t afford to ignore: the enduring power of attorney. In this episode, Doug Goldstein and Mirit Hoffman uncover why this single document is your secret weapon for staying in control of your finances and healthcare, even when life throws unexpected curveballs. Plus, discover how to avoid the headaches of guardianship, and why all cross-border investors need to have their assets covered on both sides of the ocean. Whe...
Oct 10, 2024•19 min
What happens to your U.S. investments when you’re gone? Spoiler: It’s not as simple as your heirs calling dibs! This episode uncovers the hidden complexities of transferring U.S. brokerage and IRA accounts for those living in Israel. From joint accounts with rights of survivorship to individual IRAs, understanding the necessary paperwork—like death certificates and transfer certificates—can prevent a mountain of confusion later. Estate planning isn't just a 'someday' task, it's crucial for makin...
Sep 26, 2024•10 min
Ready to Master Your Finances in Israel? Discover the P4 Approach! 🌍💰 Are you an American living in Israel or planning to move and wondering how to take control of your financial future? This episode is your roadmap to building a personalized financial plan that aligns with your unique goals and circumstances, no matter where life takes you. Meet the P4 Approach—a proven strategy to help you stay ahead in a complex, cross-border financial world: Profile Vision: Get crystal-clear on where you s...
Sep 19, 2024•17 min
Navigating major life transitions can be overwhelming, especially when your financial stability is at stake. Whether you're approaching retirement, considering a career change, facing a divorce, or dealing with an inheritance, each of these milestones presents unique challenges that require careful planning and informed decision-making. If you're an American living in Israel with U.S. investments, the complexity of these transitions can feel even more daunting. But with the right strategies in p...
Sep 12, 2024•16 min
Understanding how behavioral finance impacts investment decisions is crucial for achieving long-term financial success. This episode dives into the psychological biases that often lead investors astray, such as overconfidence, loss aversion, and herd mentality. By recognizing these patterns, listeners can take control of their financial decisions, avoid common pitfalls, and build a more resilient portfolio. The discussion emphasizes the importance of setting clear goals, maintaining a diversifie...
Sep 05, 2024•16 min
Managing capital gains taxes is a critical aspect of financial planning, especially for cross-border investors with U.S. brokerage accounts who may be dealing with two (or more) tax jurisdictions. This episode explains the importance of understanding realized and unrealized gains, highlighting how misinterpreting these can lead to unexpected and often costly tax bills. The discussion focuses on the significance of proactively managing your portfolio and using key documents like your 1099 and Dec...
Aug 29, 2024•14 min
Overcoming money silence and fostering healthy financial dynamics within families are crucial for financial well-being. This episode delves into the challenges many face when it comes to discussing money with loved ones, especially across generations. Learn how to break the taboo of money silence , establish open financial communication, and create a supportive environment for discussing financial matters with family members. This episode provides actionable advice on starting these conversation...
Aug 22, 2024•18 min
Ever wondered why inheriting money can feel like a burden instead of a blessing? When you receive an inheritance, it's like a bittersweet hug from the past. Dealing with it can be both emotionally and financially challenging. This episode delves into the complexities of inheriting money and explores the psychological barriers that can prevent heirs from accepting their new assets. It offers practical strategies for managing inherited wealth and emphasizes the importance of taking ownership of in...
Aug 15, 2024•18 min
Donating appreciated stock can maximize charitable contributions and minimize tax liabilities. Recent changes in Israeli tax laws make this an ideal time for investors to leverage their appreciated stock holdings. Learn how to identify the best candidates in your portfolio for donation, understand core and satellite positions, and maintain a diversified portfolio. Enhance your financial planning by avoiding hefty capital gains taxes and obtaining valuable tax credits. Discover expert insights on...
Aug 08, 2024•20 min
Discover the Secrets of Estate Planning for Blended Families Estate planning for blended families presents unique challenges and opportunities to ensure financial security for both spouses and children. In this episode, we delve into the intricacies of crafting a balanced estate plan that meets the needs of all family members. By exploring the use of trusts, wills, and strategic investments, we provide essential guidance on maintaining harmony and fairness while protecting your loved ones’ futur...
Aug 01, 2024•13 min
Helping Your Adult Children Financially: Key Strategies Navigating financial support for adult children requires balancing generosity with responsibility. It is essential to understand their needs and set clear boundaries to ensure that the aid you provide promotes independence rather than dependency. By being fair and transparent with all your children, you can maintain family harmony and encourage financial responsibility. Differentiate between help and enablement: Provide structured support w...
Jul 25, 2024•16 min
Discover how risky investment behaviors can jeopardize your financial well-being. Douglas Goldstein shares an eye-opening analogy to highlight the importance of risk assessment and diversification in protecting your portfolio. Learn valuable strategies to avoid common pitfalls and make informed decisions. Key Takeaways: Understand the importance of diversifying your investments. Learn how to properly assess risks vs. returns. Avoid emotional investing and discover tricks to think logically about...
Jul 18, 2024•13 min
Discussing finances can be one of the most challenging aspects of marriage, yet it's essential for building a strong financial foundation. This episode explores effective strategies for how husbands and wives can talk about money without conflict. Learn how to align your financial goals, understand each other’s values, and make joint financial decisions that strengthen your relationship. The conversation delves into common financial issues couples face and offers practical advice for navigating ...
Jul 11, 2024•16 min
Understanding U.S. tax obligations is crucial for expats to avoid severe penalties and maintain compliance with the IRS. Allen Pfeister, a U.S. tax expert, explains the complexities of tax filing requirements for Americans living abroad, emphasizing that citizenship status mandates continuous tax reporting, regardless of residence. Allen discusses the importance of understanding the Foreign Earned Income Exclusion and the Foreign Tax Credit, which can help reduce tax burdens. Additionally, Allen...
Jun 27, 2024•18 min
Are you worried about having enough income in retirement? This episode dives into how dividend-paying ETFs can boost your monthly income in retirement. You’ll learn the basics of ETFs, discover how they generate a periodic income stream through dividends, and how to incorporate them into your investment portfolio. We also explore alternative options like CDs (Certificates of Deposit - insured bank deposits) for those seeking more stability. Plus, if you have US investments and a foreign pension,...
Jun 20, 2024•11 min
Fear can paralyze you from making crucial financial decisions. This episode of The Goldstein On Gelt Show offers practical steps to overcome that fear and take control of your investments. Learn how to transform financial anxiety into confidence, set clear financial goals, and take manageable steps towards achieving them. Some key takeaways: Set Clear Financial Goals: Define specific financial objectives to guide your investment decisions. Knowing what you want to achieve helps to create a focus...
Jun 13, 2024•12 min
Discover how Certificates of Deposit (CDs) can offer stable and predictable investment opportunities, especially valuable for expatriates managing their finances from abroad. In this episode, Douglas Goldstein delves into the advantages of purchasing CDs through U.S. brokerage accounts, focusing on benefits for those living overseas, such as in Israel. Learn the ins and outs of CDs within U.S. brokerage accounts, including FDIC insurance, diversification strategies to minimize risk, and the stra...
Jun 06, 2024•11 min
As we look towards retirement, the prospect of a long, fulfilling life is both a blessing and a challenge. With life expectancies on the rise, the crucial question we face is not just about living longer but ensuring our retirement funds do the same. This concern, widely known as longevity risk, is becoming a central theme in modern retirement strategies. It beckons us to rethink how we manage our finances, aiming for a balance that sustains us through more years than ever before. Understanding ...
May 30, 2024•10 min
Ever wondered about the best time to switch from a traditional IRA to a Roth IRA? Or what are the advantages of having a Roth IRA during a market dip? Or how an inherited IRA works if you’re living overseas? Join host Douglas Goldstein to discover: 🔍 What’s a Roth Conversion? 📉 Learn how a market downturn could be the perfect timing for a strategic Roth conversion, turning losses into potential long-term benefits ✈️ Living Abroad with an IRA? Discover solutions to common issues U.S. expats fac...
May 23, 2024•15 min
We all wish that one day we’ll get a call that a distant family member, who lived a long and happy life, left us a large inheritance. What would you do if you inherited a substantial sum unexpectedly? The financial decisions that follow such an event are crucial. Join Goldstein On Gelt host, Douglas Goldstein, CFP® and discover some considerations for managing newfound wealth in retirement, including the balance between capital growth of the inheritance and preservation, generating a steady inco...
May 16, 2024•10 min
Are you married to a non-US citizen? Make sure to protect your wealth! Estate taxes can cost you millions if you don’t plan carefully. What can you do about it? Give lots of gifts when you’re alive! Discover how gifting to your spouse and children during your lifetime can help mitigate estate tax burdens Learn about the benefits of setting up a QDOT (Qualified Domestic Trust) and how it can defer estate tax, providing an income stream to your non-American spouse Understand the importance of disc...
May 09, 2024•11 min
Managing U.S. pension plans and IRAs from abroad can be challenging. Difficulties with pension companies and tax consequences can be tough. Discover the pros and cons of moving your pension plan into a U.S.-based IRA account, and how to effectively manage your portfolio. Here are some key takeaways: Evaluate your pension plan and consider the option of moving funds to an IRA with the help of an expert Research and find a suitable IRA account provider that caters to expatriates, offering reasonab...
May 02, 2024•11 min
Financial planning is always important, but it’s especially crucial when health issues arise. A well-built plan allows you and your family to focus on health and family connections, without worrying about the day-after. How can you make sure you are setting yourself up for a smooth transition of wealth to your family? Tune in and learn about the nuances of managing shared accounts, the pros and cons of transferring control to family members, and the critical role of clear communication in preser...
Apr 18, 2024•12 min
Are You Overlooking the Importance of a Financial Plan? When was the first time you spoke with a financial planner? Let me tell you about a retired couple who I met who had never spoken to a financial planner before. The couple's lack of understanding about the role of a financial planner and the way their investment portfolio was built, highlighted a common misconception among individuals when it comes to managing their finances. When sitting down with a Certified Financial Planner™ practitione...
Apr 11, 2024•11 min
Family pressure can be overwhelming when it comes to finances. Learn how to handle those pressures correctly, allowing you to build a financial portfolio that suits you perfectly. Here are some key points discussed in the show: 1. Understand your investments: If you find yourself investing in products you don’t fully understand, seek advice from a qualified third party, such as a financial planner. 2. Address family pressures: In the face of conflicting advice from family members, it’s crucial t...
Apr 04, 2024•10 min
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 inves...
Mar 28, 2024•8 min
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, Dou...
Mar 14, 2024•13 min
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-...
Mar 07, 2024•10 min
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 Aspe...
Feb 29, 2024•22 min
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 pre...
Feb 22, 2024•13 min
