Goldstein On Gelt

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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 place, you can confidently manage these shifts and protect your financial future. Retirement: Planning for a Smooth Transition Retirement is often the most significant financial milestone that people prepare for, yet it can be filled with uncertainty. As you approach retirement, the question of how to sustain your lifestyle without a regular paycheck becomes paramount. It’s not just about saving enough; it’s about knowing how to turn those savings into a steady income stream that will last through your retirem

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 diversified portfolio, and staying disciplined in the face of market fluctuations. Key Takeaways: Recognize and address common behavioral finance biases to improve investment decisions Set clear financial goals and stick to a disciplined investment strategy Diversify your portfolio to manage risk and enhance long-term returns For show notes and resources mentioned in the show, go to https://goldsteinongelt.com/personal-finance/are-your-emotions-sabotaging-your-investments The information provided here is intended for educational

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 December statements to ensure accurate tax filings. By reviewing these documents carefully and working closely with your accountant, you can avoid common pitfalls and optimize your tax strategy. This episode also emphasizes the value of a collaborative approach between you, your financial advisor, and your accountant to minimize your tax liability effectively. Key Takeaways: Understand the difference between realized and unrealized gains to optimize your tax planning. Always review both your 1099 and Decemb

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 conversations, navigating the complexities of family dynamics, and ensuring everyone is on the same page financially. Key Takeaways: Strategies to initiate open and honest financial conversations with family members. Understanding the importance of financial transparency and how it can strengthen family bonds. Tips for handling intergenerational financial discussions and overcoming common barriers. For more insights and detailed guidance, contact us here.

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 inherited funds. We’ll address emotional hurdles and provide guidance on creating a financial plan that aligns with your personal goals and values. Listeners will learn the importance of transforming inherited wealth into a personal financial asset, the impact of language on financial mindset, and the need to actively engage with inherited money. By the end, you'll have the knowledge to turn your inheritance into a powerful financial tool for your future. Key Takeaways and Action Points: Recognize and addr

  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 rebalancing your portfolio, maintaining diversification, and making impactful donations that align with your long-term goals. Key Takeaways and Action Points: Identify Profitable Positions: Review your portfolio to find stocks with significant unrealized gains as potential donation candidates. Evaluate Your Strategy: Consider which positions to hold for the long term and which to donate, keeping your overall financial goals in mind. Understand Tax Benefits: Learn about the tax advantages of

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’ futures. (Note that we do not provide legal or tax advice, and the show is for educational purposes only.) Tune in to learn how clear communication, thoughtful planning, and professional advice can help you navigate these complex dynamics.  Key Takeaways and Action Points: Set Up a Trust: Discover why establishing a trust can secure your spouse’s financial future and ensure a fair inheritance for your children. Communicate Clearly: Learn how open discussions with family members can prevent conflicts and ensur

  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 with clear expectations and timelines. Ensure fairness among siblings: Communicate openly about your reasons for various levels of support. Set boundaries: Encourage fiscal responsibility by having limits and setting goals. Long-term planning: Prioritize your financial health and consult a professional for personalized advice. If you're not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug's free ebook The Retirement Planning Book.

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 your portfolio. Regularly review and adjust your portfolio based on life changes. If you're not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug's free ebook The Retirement Planning Book.

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 these discussions with ease and understanding. Key Takeaways: Understand the importance of aligning financial goals and values in a marriage. Learn strategies for open and effective financial communication between spouses. Discover ways to handle financial disagreements and make joint decisionsharmoniously. For more insights and detailed strategies, visit our blog post on the website. Ready to take control of your financial future? Contact us today to schedule a consultation and start building a stro

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 addresses common misconceptions and the critical need for proper reporting of foreign accounts to avoid hefty fines. Key Takeaways: 1. US expats must file tax returns and report income, no matter where they live. 2. The Foreign Earned Income Exclusion and Foreign Tax Credit are essential tools for reducing tax liabilities. 3. Properly reporting foreign accounts is crucial to avoid significant penalties. Make sure you have you taxes under control! 1. Review your tax filing obligations and ensure updat

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, we cover crucial cross-border financial planning tips. Tune in to find out how to enhance your retirement income and plan your financial future. A few key takeaways from the show: What ETFs are (and how they differ from traditional mutual funds) How ETFs generate an income stream How to incorporate ETFs into your investment portfolio  How to build a cross-border investment portfolio strategically If you're not already receiving updates on new episodes, sign up now, and as a special bonus, recei

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 focused and purposeful strategy. Start with Small Steps: Overcome financial fear by taking manageable actions. Begin with simple tasks, like setting aside a small emergency fund or writing down your financial goals, to build momentum and confidence. Consult with a Financial Advisor: Work with a professional to gain personalized advice and strategies tailored to your financial situation. Regularly review and adjust your portfolio to stay on track with your evolving goals and market changes. Address Emotio

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 strategic advantage of creating a CD ladder to optimize returns over various terms. Key topics include: Simplifying management of diversified CDs through a single brokerage account Structuring a CD ladder to capture the best interest rates over time Navigating the secondary market for CDs to meet liquidity needs without incurring significant losses If you're not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug's free ebook The Retirement Planning Book.

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 Longevity Risk Longevity risk can be likened to planning a long voyage. Just as you would ensure your ship is well-stocked for an extended journey, your retirement plan must be robust enough to support you well into your later years. This means not only saving enough but also investing in ways that provide steady, reliable income no matter how long your retirement lasts. As such, exploring diverse financial products and income streams becomes not just beneficial but essential. Integrating Healthcare and Lifestyle into

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:

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 income, and reducing risk. Learn some critical steps retirees must take to secure their financial future. Some key takeaways: Assess the needs of your portfolio based on current priorities and risk tolerance. Understand how the new wealth can change your portfolio’s balance. Seek a financial advisor who tailors a plan to your needs and risk tolerance Navigating an Inheritance During Retirement: A Practical Guide Picture this: You're comfortably settled into your retirement, your days filled with l

Are you an American married to a non-U.S. citizen? If so, understanding the complexities of cross-border financial planning could save you and your heirs millions of dollars in estate tax (depending on how much money you have).  When it comes to financial planning for cross-border families, especially those with substantial assets, it’s crucial to plan ahead of time how the family wealth will be passed on. One of the first things to consider is your estate plan. Determine how you want your assets to be distributed in the event of your death, whether to your non-resident alien (NRA) spouse, your kids, or to charity. For American couples, leaving the entire estate to the second American spouse comes with no estate tax. However, if you’re married to a non-resident alien (a non-U.S. citizen), there are tax considerations to address during your lifetime and potential estate tax implications afterward. To mitigate these tax payments, gifting assets to your spouse up to the allowable limit during your life

If you are an American living in another country, it’s important to understand your US pension plan. This guide will help you know how to manage your pension or 401(k) from abroad, whether you are in Israel, Europe, or anywhere else. Perhaps you worked in the U.S. and saved money in a 403(b), 401(k), or other type of pension plan. Now, you live in a different country and you’re finding it difficult to manage your retirement account. One possible solution is to move your pension plan into an IRA. Moving your pension plan into an IRA may allow you to control your money better, letting you choose different ways to invest, like in stocks or funds. Moreover, there are practical challenges, too. Sometimes, dealing with pension companies from another country can be hard, and you might not get much help. Furthermore, it’s tricky when advisors in your new country don’t know much about U.S. pensions. Bad advice can lead to big tax problems and loss of money. You need an expert who knows about U.S. pensions