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 Help Your Children Become Financially Independent
February 12, 2016 20:00 - 3 minutes - 2.74 MBHow to Help Your Children Become Financially Independent By Douglas Goldstein, CFP® A client told me about her married daughter who is in a financially dysfunctional marriage. The young couple finds it hard to make ends meet, and often applies for help from charitable organizations. Yet despite their lack of funds, they still live a fairly extravagant lifestyle. Occasionally, the daughter asks her mother for money, but the mother refuses. My client realizes that she doesn’t have the mean...
How To Break Your Bad Habits And Get Rich
February 11, 2016 20:00 - 3 minutes - 2.75 MBHow To Break Your Bad Habits And Get Rich By Douglas Goldstein, CFP® Money woes are generally not due to a market gone awry or a low salary. The number one cause of most money problems is bad financial habits. Do you spend without tracking what is leaving your wallet, neglect to make regular deposits in savings, and overlook regular financial reviews and discussion of financial goals with your partner? If so, you may be guilty of harboring negative financial habits. Bad financial habits c...
Are Bonds a Good Investment for You?
February 10, 2016 20:00 - 3 minutes - 3.34 MBAre Bonds a Good Investment for You? By Douglas Goldstein, CFP® Bonds are a very popular investment, but before you buy any, let me tell you what I share with my clients about them. Think of a bond as a loan between you and a company or government. Assuming all goes normally, here’s how it looks: You lend them a sum of money They pay you interest periodically until “maturity.” They return the principal of the loan on a specified date. Why buy bonds? Investors looking for steady curre...
Problems With Your U.S. Brokerage Account?
February 04, 2016 20:30 - 3 minutes - 3.06 MBProblems With Your U.S. Brokerage Account? By Douglas Goldstein, CFP® Many readers have recently contacted me because they received a letter from their U.S. brokerage firm informing them that either “You can no longer purchase additional shares of mutual funds in your account,” or “We will no longer provide investment advisory services to you and/or you may only enter liquidating orders or non-solicited orders in your account.” This letter is not a result of new American legislation...
How Quickly Should You Invest The Money You Inherit?
February 03, 2016 20:00 - 3 minutes - 3.07 MBHow Quickly Should You Invest The Money You Inherit? By Douglas Goldstein, CFP® Though I often advise people to wait before investing an inheritance, sometimes you must take quick action. When do you need to act quickly? If you inherited a risky position, you should consider liquidating it. For example, the grandfather who always managed the stock portfolio passes away, leaving large amounts of money invested in a few individual stocks. Unable to live on her own, the grandmother who now ...
Are You Getting The Social Security You Deserve?
February 02, 2016 20:00 - 4 minutes - 3.82 MBAre You Getting The Social Security You Deserve? By Douglas Goldstein, CFP® The “Greenberg Settlement,” the resolution of a class-action lawsuit brought against the Social Security Administration (SSA), changes the way American olim receive their American Social Security payments. Under the SSA’s Windfall Elimination Provision, if you receive a foreign earnings-based pension, your American benefits are reduced. Until now, claimants of Social Security living in Israel who also received Bit...
When Should You Give Trading Authority to Your Children?
January 20, 2016 10:18 - 3 minutes - 3.26 MBWhen Should You Give Trading Authority to Your Children? By Douglas Goldstein, CFP® Recently, one of my clients had a serious fall at home, breaking his hip, and ended up in the hospital. As a result of his injuries, it was clear that he could not deal with his finances for the foreseeable future and had to hand over trading authority to his daughter. As this all happened suddenly, decisions had to be made in a hurry, leading to mediocre results. If my client, who is over 80, had agreed ...
What You Need to Do After You Inherit an IRA
January 20, 2016 10:07 - 3 minutes - 3.16 MBWhat You Need to Do After You Inherit an IRA By Douglas Goldstein, CFP® If you receive an inheritance, it might come in the form of property, a bank account, or brokerage account. But what if you receive an inheritance from someone’s individual retirement account (often called an “IRA”)? IRAs are different from regular brokerage accounts A regular brokerage account is normally structured as either an “individual” or a “joint” account, and a person’s will determines how the assets will b...
What Women Need to Know About Personal Finance
January 20, 2016 09:05 - 3 minutes - 2.78 MBBy Douglas Goldstein, CFP® Regardless of the more modern way people look at gender, there are significant differences in how men and women should invest their money. Here’s why: Women’s pensions tend to be smaller Women’s pension payouts tend to be lower than men’s payouts, because most women work fewer hours and have lower salaries than their male counterparts. Even though “paternity leave” is becoming more common, most women still take additional non-paid time after having a baby. And,...
A Quick Solution for Non-Americans Investing in the U.S.
January 15, 2016 11:24 - 3 minutes - 3.27 MBNon-Americans who want to invest internationally often use U.S. brokerage accounts. While it may seem counter-intuitive for a non-American to open an American brokerage account from overseas, there are several reasons why this is a good move. 2 reasons why non-U.S. folks use American accounts Efficiency – U.S. securities markets may be the most efficient and individual-investor friendly in the world. American regulations place customer protection and transparency at the top of their concer...