4-Minute Money Ideas
160 episodes - English - Latest episode: about 5 years ago - ★★★★★ - 3 ratingsDouglas Goldstein, CFP® contributes a weekly piece to “The Jerusalem Post” about retiring in Israel, managing your U.S. investment, brokerage, 401K, and retirement accounts (IRAs) from Israel. He talks about financial planning in Israel, investment basics, stocks, bonds, mutual funds, and bank deposits in easy-to-understand language. For American olim and “nefesh b nefesh” folks thinking about aliya, everyone can use the tips and financial advice of these four minute audio articles, a Profile Investment Services’ financial podcast.
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Episodes
How to Overcome the Challenges of Receiving an Inheritance
January 19, 2017 17:00 - 3 minutes - 3 MBHow to Overcome the Challenges of Receiving an Inheritance By Douglas Goldstein, CFP®, - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What would be your first reaction if you received an inheritance? When a client received an inheritance from her elderly aunt, she told me: “I thought she was going to leave everything to my cousin. I never imagined in my wildest dreams that any of it would come to me. Although the extra money will come in useful, I don...
Avoid This Portfolio Management Mistake
January 12, 2017 14:00 - 3 minutes - 7.88 MBAvoid This Portfolio Management Mistake By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel At an initial meeting, a new retiree told me, “I’m not really sure what stocks I own.” When I asked how he had put together his portfolio, he explained that some of the positions came from an inheritance, while others… “Well, I’m not really sure,” and a couple of stocks were recommendations from “this guy who sits next to me in shul.” When...
What Happens to Your Retirement Plans When You Make Aliya?
January 05, 2017 14:00 - 3 minutes - 7.95 MBWhat Happens to Your Retirement Plans When You Make Aliya? By Douglas Goldstein, CFP®, - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel As a Certified Financial PlannerTM sitting in Jerusalem, I work mostly with American immigrants who keep the majority of their assets in American investment accounts. When a recent oleh listed the various retirement plans that he held in the United States, he mentioned: Individual Retirement Account (IRA) 401(k) reti...
4 Points to Remember at the End of the Financial Year
December 08, 2016 21:00 - 3 minutes - 7.51 MB4 Points to Remember at the End of the Financial Year By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel The end of the financial year is a good time to conduct an annual review of your financial situation. If your savings plan, or the market as a whole, has swerved off course, now is an opportune time to adjust accordingly. Saving goals Are your long-term and short-term goals the same as they were last year? If your...
What Happens When You File U.S. Taxes From Abroad?
December 01, 2016 21:00 - 3 minutes - 7.1 MBWhat Happens When You File U.S. Taxes From Abroad? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel American citizens living overseas often need to file U.S. taxes from abroad, even if they don’t owe any money. If you live in Israel, gathering the information you need to complete your taxes from Israeli banking and financial institutions can be tricky since foreign institutions don’t produce 1099 forms. So what is an American ...
Did You Get an Unpleasant Surprise From Your Stateside Broker?
November 24, 2016 21:00 - 3 minutes - 7.28 MBDid You Get an Unpleasant Surprise From Your Stateside Broker? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel When your stateside broker sent you a surprise letter, did it contain good news? Many Americans in Israel (and non-Americans, too) have received a letter from their U.S. investment firm or bank informing them that they need to close out their account. In some cases, the brokerage firm does not shut down the account, ...
How to Grow Your Money Twice as Fast: Save More
November 17, 2016 21:00 - 3 minutes - 3.48 MBHow to Grow Your Money Twice as Fast: Save More By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What’s the best way to save, and how much money should you save? As a panelist on the “Money Tree Investing Podcast,” I recently answered a question about how to invest monthly savings. Here’s what I advised: Save more Before discussing specific investment tactics, I suggested doubling the amount of money the listener was...
How Living in Israel Affects Your IRA and 401(k)
November 10, 2016 21:00 - 4 minutes - 4.23 MBIf you worked in America before your move to Israel, chances are you have an IRA account. What should you do with this American account if you live an ocean away? Should you transfer your retirement accounts to Israel? An IRA is an “Individual Retirement Account.” There are several categories of IRA, including traditional, Roth, Simple, and SEP IRAs. The main differences between them relate to when taxes are paid. (Check with your accountant about your own situation since this articl...
Should Your American Assets Stay in the United States?
October 20, 2016 20:00 - 4 minutes - 9.18 MBShould Your American Assets Stay in the United States? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel When making aliya, many olim move their American assets to Israel and convert all their dollars to shekels. However, there is a strong case to be made for leaving your dollars in America. Here’s why: Efficiency U.S. securities markets may still be the most efficient, and individual-investor friendly in the world. You can ha...
Why Gender Bias is a Good Thing in Financial Planning
October 13, 2016 20:00 - 3 minutes - 7.89 MBWhy Gender Bias is a Good Thing in Financial Planning By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel One area where gender bias isn’t discussed enough is in financial planning. Financial planning for women must be different than for men. What do women need to know when planning their financial future? Women work fewer years than men Even though men are more involved with domestic duties than in previous generations, typica...
Is Risk Management the Best Financial Strategy?
October 06, 2016 20:00 - 3 minutes - 7.29 MBIs Risk Management the Best Financial Strategy? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What is risk management, and how does it affect your investment decisions? Every investment is risky Every investment carries a chance of making a profit – and a risk of sustaining a loss. However, some investments are riskier than others. Generally speaking, the more profitable investments contain the most risk; if an investment c...
Estate Planning: What Happens to Your Money After You Die?
September 29, 2016 20:00 - 3 minutes - 7.06 MBEstate Planning: What Happens to Your Money After You Die? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel One of the most important issues in estate planning is what happens to your money after you die. How quickly your heirs receive the inheritance depends largely on your estate planning. (If you’re having any difficulties with an inheritance, please email me at [email protected].) 3 things to consider when planning ...
Avoid These Common Mistakes When You Receive an Inheritance
September 15, 2016 20:00 - 3 minutes - 8.95 MBAvoid These Common Mistakes When You Receive an Inheritance By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel A new client recently told me, “My late father left me an inheritance of an IRA (Individual Retirement Account) worth $1.5 million, and I’m the sole beneficiary. What should I do with it? If I bring the money to Israel, I’ll have to sell the stocks and wire the money to my account here. But if I do that, I’ll have to pay ta...
A Guide to the Tax Implications of a Legal Settlement
September 08, 2016 20:00 - 3 minutes - 8.44 MBA Guide to the Tax Implications of a Legal Settlement By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel This is a two-part article addressing questions that arise when people receive lump sums. For the entire article, go to: www.profile-financial.com/settlement. I recently helped a number of people who are in the midst of receiving a cash settlement from a lawsuit, and had to point out that winning a lawsuit is not “free money.” ...
Do U.S. Citizens in Israel Pay Tax to the IRS on a Legal Settlement?
September 01, 2016 20:00 - 3 minutes - 8.44 MBA Guide to the Tax Implications of a Legal Settlement By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel This is a two-part article addressing questions that arise when people receive lump sums. For the entire article, go to: www.profile-financial.com/settlement. I recently helped a number of people who are in the midst of receiving a cash settlement from a lawsuit, and had to point out that winning a lawsuit is not “free ...
Did You Make a Mistake When You Opened Your Bank Account?
August 25, 2016 20:00 - 3 minutes - 7.76 MBDid You Make a Mistake When You Opened Your Bank Account? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel What happened when you opened your first Israeli bank account after making aliya? A new oleh recently told me: “I just tried your online tool [www.profile-financial.com/olim] to find out what I need to know about having a U.S. brokerage account now that I’ve made aliya. But I think I made a mistake when I opened my new Isra...
What You Need to Know About Premium Bonds
August 18, 2016 20:00 - 3 minutes - 8.12 MBWhat You Need to Know About Premium Bonds By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Premium bonds may be a good investment choice for retirees looking to increase their income. (For solutions to other problems retirees face, download a free copy of The Retirement Planning Book at www.profile-financial.com/rpb.) Consider premium bonds In today’s low interest rate environment, if you park your money in bank deposits or mo...
The Best Way to Invest When You Want to Gift Money
August 11, 2016 20:00 - 2 minutes - 6.46 MBThe Best Way to Invest When You Want to Gift Money By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Recently, a couple with four children of various ages asked me for advice on how to invest funds that they had just inherited. They didn’t need the inheritance for themselves, and they wanted to pass it along to their children. The couple’s oldest child was married and wanted to buy a house, so getting her share of the funds now m...
Why Interest Rate Risk is Important
August 04, 2016 20:00 - 3 minutes - 3.19 MBWhy Interest Rate Risk is Important By Douglas Goldstein, CFP® Conservative investors who buy bonds to avoid high risk might inadvertently be exposing themselves to a potentially devastating risk: interest rate risk. If you are concerned that you may have interest rate risk or other hidden risks in your investments, call my office at 02-624-2788 to discuss your portfolio. Are bonds safe? When you buy a bond, you lock in a specific interest rate that you'll earn until the bond matur...
What You Need to Know About Financial News
July 28, 2016 20:00 - 3 minutes - 7.77 MBWhat You Need to Know About Financial News By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Should financial news and media reports affect the way you make your investment decisions? Recently, a client said: “I just read about _________ (fill in Israeli company name) in The Jerusalem Post, and I’d like to buy 1000 shares.” I hear comments like this fairly often. Since I help people who live in Israel with their U.S.-based IRA an...
How to Increase Your Retirement Cash Flow
July 21, 2016 20:00 - 3 minutes - 7.37 MBHow to Increase Your Retirement Cash Flow By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel When you retire, your cash flow changes. Since most pensions won’t replace 100% of your pre-retirement income, you need other ways to increase your monthly cash flow. A bank may not meet your needs If you put your money in a regular savings account in the bank, you have little risk of losing your principal. But, you also will receive rel...
What to Do When You Inherit an IRA
July 14, 2016 20:00 - 3 minutes - 7.37 MBWhat to Do When You Inherit an IRA? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel If you inherit an IRA (Individual Retirement Account), you may be tempted to simply withdraw the funds and put them into your own name. But if you do, you would possibly be making a big mistake. Instead, you should transfer the money into a “beneficiary IRA” account. Money in an IRA is tax deferred in America, meaning that any interest, dividend...
Do You Need to Worry About a Market Crash?
July 07, 2016 20:00 - 3 minutes - 7.17 MBDo You Need to Worry About a Market Crash? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel No one knows if or when there will be another market crash. Anyone who could accurately predict the ups and downs of the market on a consistent basis would make an absolute fortune. Even if the market’s exact moves can’t be predicted, you can be sure that the market will take a hit sometime in the future. In fact, if you’re planning to ho...
What Really Happened in the 2008 Market Meltdown - A Book Review and Analysis of Ben Bernanke's Book
July 06, 2016 20:00 - 16 minutes - 15.1 MBWhat Really Happened in the 2008 Market Meltdown: A book review and analysis of Ben Bernanke’s book, The Courage to Act: A Memoir of a Crisis and Its Aftermath Douglas Goldstein, CFP® As a financial advisor who worked with clients throughout the 2008 market meltdown, I was particularly interested in understanding the Chairman of Federal Reserve Bank’s perspective of that period. Ben Bernanke’s book The Courage to Act: A Memoir of a Crisis and Its Aftermath is an exceptionally well-writte...
How Non-Americans Can Benefit from American Brokerage Accounts
June 30, 2016 20:00 - 3 minutes - 3.13 MBHow Non-Americans Can Benefit from American Brokerage Accounts By Douglas Goldstein, CFP®, helping people in Israel with their U.S. IRA and investment accounts This past week, my office phone rang several times with non-Americans inquiring about opening American brokerage accounts. Given the hassles of dealing in some of the more popular offshore jurisdictions, and given the many benefits of keeping investments in the United States, these people were happy to see how they could easily i...
What Should You Do About the FBAR?
June 23, 2016 20:00 - 2 minutes - 6.62 MBWhat Should You Do About the FBAR? By Douglas Goldstein, CFP® - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel Whenever I mention the acronym FBAR, Americans often say one of two things: “F what??” or “I don’t need to do that.” What’s an FBAR? The “Report of Foreign Bank Accounts” (FBAR) is a required U.S. government form, which is important in the post-9/11 world. The purpose of the form is to alert the authorities about accounts held outside the U...
Is Your Brokerage Account in Danger of Being Sold Out?
June 16, 2016 20:00 - 3 minutes - 7.96 MBIs Your Brokerage Account in Danger of Being Sold Out? By Douglas Goldstein, CFP® Imagine if your brokerage firm called you up and told you that they were going to sell out all of the positions in your brokerage account within the next 60 days. “Why?” you ask them. They respond that due to increasing regulatory restrictions they will no longer service your account. They give you two options: Transfer your assets to another financial institution, Distribute the assets directly to you. ...
Can Your Israeli Bank Provide Investment Services?
June 09, 2016 20:00 - 3 minutes - 3.35 MBCan Your Israeli Bank Provide Investment Services? By Douglas Goldstein, CFP® Have you found that your Israeli bank no longer provides investment services for Americans living in Israel? Because if onerous reporting requirements to the American government, many Israeli banks have stopped opening investment accounts for U.S. citizens. While dual American-Israelis can continue with banking and checking services, they need to look elsewhere for their long-term investing. Where can...
Read This Before You Transfer Your Money to Israel
June 02, 2016 20:00 - 3 minutes - 8.93 MBRead This Before You Transfer Your Money to Israel By Douglas Goldstein, CFP® Making aliya doesn’t mean you need to close your American brokerage accounts. In fact, there are many sound reasons for maintaining assets in America even if you move away. Think twice before converting your American retirement accounts to shekels and bringing them to Israel. Recently, some American brokerage firms asked their non-resident clients to transfer out their accounts. To the shock of many clients i...
Is Financial Success Just a Matter of Luck?
May 26, 2016 19:00 - 3 minutes - 7.12 MBIs Financial Success Just a Matter of Luck? By Douglas Goldstein, CFP® Is financial success more about planning or luck? In the book Rich Kids, Tom Corley discusses three different kinds of luck: Random luck is the kind of luck we can’t control. Random good luck includes winning the lottery or getting an unexpected windfall. Conversely, examples of random bad luck include sudden illness or being struck by lightning. Opportunity luck is good luck created as a result of your actions....
How Modern Portfolio Theory Can Make You a Better Investor
May 05, 2016 19:00 - 3 minutes - 7.83 MBHow Modern Portfolio Theory Can Make You a Better Investor By Douglas Goldstein, CFP® Can “Modern Portfolio Theory” increase your investment returns? Recently, on The Goldstein on Gelt Show, I spoke with the inventor of Modern Portfolio Theory, Nobel Prize in Economics winner, Dr. Harry Markowitz. Dr. Markowitz explained various aspects of Modern Portfolio Theory and its impact on the individual investor. His theory explains how to construct an investment portfolio by optimizing expecte...
Avoid Making This Mistake with an Inherited IRA
April 28, 2016 19:00 - 3 minutes - 8 MBAvoid Making This Mistake with an Inherited IRA By Douglas Goldstein, CFP® If you are the beneficiary of an inherited IRA, avoid immediately withdrawing the money. If you make an immediate withdrawal, you might forfeit the tax-deferred status of the account and be subject to paying taxes. A proper withdrawal strategy for an inherited IRA can minimize your tax bill. What you need to know when you inherit an IRA In an effort to encourage savings, America lets the assets inside an IRA accou...
How to Avoid Tax Mistakes When You Receive an Inheritance
April 21, 2016 19:00 - 3 minutes - 7.89 MBHow to Avoid Tax Mistakes When You Receive an Inheritance By Douglas Goldstein, CFP® When receiving an inheritance, it’s important to avoid making tax mistakes. Certain tactics, such as opening a U.S. brokerage account (see below for an interactive tool) can help. Watch out for these mistakes: Mistake #1 – Taking money out of an IRA To maintain the tax-deferred status of an inherited IRA (Individual Retirement Account), the money must remain in a specially titled account. As an heir, you...
Why You Might Benefit from Having a U.S. Brokerage Account
April 14, 2016 19:00 - 3 minutes - 8.18 MBWhy You Might Benefit from Having a U.S. Brokerage Account By Douglas Goldstein, CFP® Unsure of the benefits of a U.S. brokerage account? Use a free interactive form to find why it may be helpful to keep some of your investments in America even though you live in Israel. See the URL below. One of the most common financial problems Americans living in Israel face is when their U.S. investment company closes their account because of their Israeli address. There is no legal reason why you c...
The Best Way to Pay for a Wedding
April 07, 2016 19:00 - 2 minutes - 6.34 MBThe Best Way to Pay for a Wedding By Douglas Goldstein, CFP® After accepting all the good wishes and mazal tovs, the first thing parents of a newly engaged couple need to think about is the best way to pay for a wedding. Making a wedding can be costly. If you have savings to cover the cost, great. That’s the topic of today’s article. If you haven’t saved for the big day, however, you’ll need to adjust your child’s expectations since you should certainly not take on debt to cover a four-ho...
Should You Have a Shared Savings Account With Your Spouse?
March 31, 2016 19:00 - 3 minutes - 8.05 MBShould You Have a Shared Savings Account With Your Spouse? By Douglas Goldstein, CFP® What’s the best way to invest with your spouse? Should you have a shared savings account or separate accounts? Whenever I help a couple set up U.S.-based brokerage and investment accounts, I ask whether they want a “joint” account, or whether they want to keep their money separate. Shouldn’t couples always invest together? In an ideal world, spouses would combine both their personal and their financial...
What Parents Need to Do If They Want Rich Kids
March 24, 2016 19:00 - 2 minutes - 1.19 MBSome people say the next best thing to being personally financially successful is having rich kids. However, teaching children good financial habits can be challenging. Here’s where Tom Corley and his book Rich Kids comes in handy. This is a great resource for teaching children (of all ages) about money. The three paths to wealth There are three paths to wealth: Live below your means. If you put 20% of your monthly salary into savings, as well as save all raises and bonuses, you are se...
The Surprising Results of an Investment Evaluation Tool
March 17, 2016 19:00 - 3 minutes - 2.98 MBNote: After reading the following true story, try the free Investment Evaluation Tool to determine if you are invested more aggressively than you should be. Details for accessing the tool are below. When I talk with people about how they should structure their U.S. investment accounts, one of the common questions I ask is how long do they plan to keep the money invested. Folks who see themselves as “long-term” investors can often take on the added risk of the stock market. What about long-...
Is Panic the Best Reaction to a Drop in the Market?
March 14, 2016 19:00 - 3 minutes - 1.34 MBIs Panic the Best Reaction to a Drop in the Market? By Douglas Goldstein, CFP® As an investment advisor who helps olim manage their American brokerage accounts, I’m often asked, “Why should I invest in the stock market when it only goes down?” If you believe that the stock market only goes down, then putting your money in stocks is a big mistake. The people who tend to make money in the stock market aren’t investing for the short term. They realize the market can, and sometimes does, dro...
How to Solve this Common Problem with American Brokerage Accounts
March 10, 2016 20:00 - 3 minutes - 1.25 MBHow to Solve this Common Problem with American Brokerage Accounts By Douglas Goldstein, CFP® I often receive calls at my office from people who say that their U.S. investment advisor asked them to change firms. It’s not because they don’t meet the minimum balance requirements. Rather, it’s just because they have chosen to live overseas. For various regulatory reasons, several large investment companies in the United States have decided to stop servicing clients who live abroad, many Ameri...
What You Need to Know When Blending Two Families
March 07, 2016 20:00 - 3 minutes - 2.97 MBWhat You Need to Know When Blending Two Families By Douglas Goldstein, CFP® Many second marriages are the blending of two families, not just two people. This situation raises various questions about child support, how to divide household bills, and inheritance issues. To ensure a smooth financial union, make sure to discuss these issues before the actual ceremony takes place. Sign on the dotted line A financial prenuptial agreement detailing which assets belong to whom and which funds wi...
Why You Need to Think Big and Start Small to Get Rich
March 03, 2016 20:00 - 2 minutes - 1.01 MBWhy You Need to Think Big and Start Small to Get Rich By Douglas Goldstein, CFP® One of the most effective ways to achieve your financial goal is to develop good habits. Here’s what you need to know: Rome wasn’t built in a day Acquiring good financial habits does not happen overnight. First, you need to decide what you want to change, such as your spending or saving habits, budgets, etc. Whatever you decide to change, make sure you are beginning with a small step. Habits built on small...
What is the Best Way to Transfer Dollars to Israel?
February 29, 2016 20:00 - 3 minutes - 1.33 MBWhat is the Best Way to Transfer Dollars to Israel? By Douglas Goldstein, CFP® When clients ask to transfer dollars from their U.S. investment account to their Israeli bank, the details they must provide sometimes take them by surprise. Living in a different country from your assets means that money transfers are necessary to meet your cash-flow needs. Following procedures properly can expedite the process. The easy system of transferring funds Although we help people choose investment...
Do All Married Couples Need to Share Their Money?
February 25, 2016 20:00 - 3 minutes - 2.77 MBDo All Married Couples Need to Share Their Money? By Douglas Goldstein, CFP® What’s the ideal way to handle your money? In a perfect world, married couples merge their lives as well as their finances, and have joint accounts. However, sometimes a couple can be connected at the heart but have separate bank accounts. While partners should look at their overall assets together, depending on the circumstances, sometimes having separate accounts is more appropriate. A second marria...
How to Make the Most Out of Your Parents’ Stocks
February 23, 2016 20:00 - 3 minutes - 2.76 MBHow to Make the Most Out of Your Parents’ Stocks By Douglas Goldstein, CFP® What should you do if you inherit a portfolio of stocks from your parents? Should you sell them? To answer the question of whether you should sell the stocks, start by asking yourself whether you would buy these stocks if you had extra cash. You have no moral or legal obligation to keep the positions just because your parents owned them. I’ve had people come into my office with stocks that their parents bought ...
What You Need to Know About Start-Up Investing
February 21, 2016 20:00 - 3 minutes - 3.04 MBWhat You Need to Know About Start-Up Investing By Douglas Goldstein, CFP® In a dramatic repeat of what I saw many times in the late 1990s-2000, another start-up company just collapsed, taking with it millions of dollars from investors’ pockets. Not only are the founders’ dream shattered, but its investors’ profits are destroyed and cash lost. As a financial advisor, I review many new companies from the investor’s viewpoint. In almost every case, the story ends badly. Don’t invest unless ...
What to Do With Your Money at the End of the Year
February 18, 2016 20:00 - 2 minutes - 2.66 MBWhat to Do With Your Money at the End of the Year By Douglas Goldstein, CFP® As the fiscal year draws to a close, it’s time to review your financial plan. Here are three important aspects that you need to look at: Savings goals What are your long-term and short-term goals? Are they the same as they were last year? If your goals are both time and dollar specific, it’s easy to tell whether you are on target to meeting them. Take a look at your pension plan. Is the division of funds among i...
Do You Suffer from “Inheritance Loyalty Syndrome?”
February 16, 2016 20:00 - 3 minutes - 2.75 MBDo You Suffer from “Inheritance Loyalty Syndrome?” by Douglas Goldstein, CFP ® It is common to feel emotional angst after receiving an inheritance. Inheritors may have doubts as to whether they are “allowed” to use the assets as they wish, or whether they somehow have to use them in a way the benefactor would have chosen to use them. There are two ways to approach a sudden influx of money into your control: Spend it on things you would never have been able to afford otherwise. The downsi...
Don’t Leave Tax-Loss Harvesting to the End of the Year
February 15, 2016 20:00 - 3 minutes - 3.34 MBDon’t Leave Tax-Loss Harvesting to the End of the Year By Douglas Goldstein, CFP® Many investors optimize their portfolio to minimize capital-gains tax. One popular strategy is to do tax-loss harvesting. What is tax-loss harvesting? Tax-loss harvesting is the practice of selling a position at a loss, and matching the loss against a gain of different stock that you sold. By offsetting losses against gains, capital growth taxes are only paid on the net profits. While this may be a temptin...
What Should You Do When You Get An Inheritance?
February 14, 2016 20:00 - 2 minutes - 2.43 MBWhat Should You Do When You Get An Inheritance? By Douglas Goldstein, CFP® Many of my client relationships began as a result of receiving an inheritance. The sudden infusion of money is a good impetus for a review of one’s goals. The first thing to do when you get an inheritance is – nothing. There’s usually no rush to spend or invest the money. Let the pain you may feel at losing a loved one and the excitement of “coming into money” die down. Before you make any decisions about what to ...