Goldstein on Gelt

Even though the United States is strict about opening U.S. brokerage accounts from overseas, if you're not a money launderer or criminal, it is easy to open a U.S brokerage account from overseas. As a financial advisor specialized in cross-border financial matters, Doug has over two decades experience in opening U.S. brokerage accounts for people who don't have an American address. Unsure why your...

When you die will your heirs need to pay estate tax? The distribution of a deceased person's assets is a complicated process that may become more complicated when estate tax is involved. Ron Zalben, CPA at Aboulafa Avital Shrensky & Company law firm and frequent guest on The Goldstein on Gelt Show , shares insights on estate tax. Listen to learn if your estate will be subjected to estate tax, and...

If a loved one recently passed, do you know what you need to do to claim your inheritance? Israeli law requires heirs to have a transfer certificate to claim an inheritance. What is a transfer certificate? Where can you get one? Today's guest has the answers… Ron Zalben, a partner at Aboulafa Avital Shrensky & Company , has extensive knowledge of estate tax laws and transfer certificates. Getting...

What exactly is a power of attorney, and when would it come into play? Russell Mayer, a Senior Partner at Livnat Mayer & Company , explains what a power of attorney (POA) is and when people would typically need to use one. A power of attorney gives someone else the authority to handle your affairs in the event you can't. There are several different types of power of attorney, and knowing which is...

Why is it important to have a will, if it only comes into play after you no longer are alive? Russell Mayer, an estate attorney based in Israel, explains how the law distributes an investor's assets after their death and why having a valid will makes a difference. Doug and Russell examine how a will works and who needs to be involved in creating it. Russell stresses the importance of each spouse h...

Do you know how to choose a mutual fund to best meet your investment goals? Doug just created The Mutual Fund Buying Checklist to help you choose mutual funds! Download it now! In a recent listener's letter, Doug was asked if mutual funds were still a good investment. He was also asked if it is illegal for Americans living abroad to purchase them. Listen to today's episode to get the answers. And...

Do you know the benefits of ETFs (Exchange Traded Funds)? While some investors like to pick their own individually stocks, statistically their overall returns tend to be lower than someone who invests in a mutual fund or ETF. Listen to today's episode to learn what to look for in choosing an ETF and how to use them effectively. Long-investors who want to hedge their bets may find that investing in...

How does an investor pick a good stock when there are so many to choose from? What if choosing a stock didn't have to be so complicated? Download Doug's free resource to help you make educated stock choices. The eight-point list is complete with practical advice on picking stock. However, don't only use this list as your criteria for choosing stocks. Investors should always work closely with a pro...

Wells Fargo announced they are going to end their relationship with their overseas clients and close those accounts just because the address on the account is not in America. Does Wells Fargo's move leave you and your investments out in the cold? If you received a letter from Wells Fargo (or any other American brokerage firm) informing you that you must move your account elsewhere, don't panic. Th...

One of the biggest problems facing a widow (other than the devastating loss of their spouse) is the fear of going broke. Losing your life's partner is a very emotional time. Many times a widow is faced with decisions she has never had to consider before, including financial decisions. If you are close to a widow, would you know if she were having financial problems or if she was facing the possibi...

A question that I'm asked frequently these days is "how do I handle my American investments from overseas if my current American brokerage firm wants to close my account?" It's common for me to get inquiries from people who received letters about their accounts being closed/frozen. Happily, I can help them. While many American firms are dismissing clients with foreign addresses, we welcome the str...

Climbing prices are bad for consumers and investors. What is the best way to stop inflation from eating away at the real value of your investments? While most consumers view higher prices and inflation as a bad thing, the stock market frequently rises during periods of high inflation. This means your stock prices and dividends may increase. How to stop inflation from eroding your purchasing power?...

Managing retirement funds doesn't need to be confusing or overwhelming. Rolling over a 401K into an IRA (individual retirement account) frequently makes it easier for the client. I am often asked for tips on what investments should be inside of an IRA account. Here's what I tell folks: Depending on your situation, you can have stocks, bonds, ETFS, mutual funds in the account High-dividend position...

If you are a non-resident alien of the U.S. (meaning you do not live there and you do not have citizenship) and own investments or assets in America, your American assets may be subject to inheritance tax. With the help of smart tax advisors, many people have found some great solutions. Ron Zalben, The Goldstein on Gelt Show's tax tip expert, discusses how a non-resident alien can choose investmen...

What does financial success look like? There isn't a formula for financial success, but there are steps you can take to achieve financial stability. The step are your "financial plan" – and everyone's financial plan looks different. Doug explains how a financial advisor should guide you towards success through a deep understanding of your financial position. Dealing with American financial advisor...

Monte Carlo simulations take a huge amount of data and possible variables and let you know the chance of a specific outcome. Financial planners use Monte Carlo simulations to look at all sources of cash flow, income from investments, possible market scenarios and predict whether you'll "make it" in retirement. Watch a short video about Monte Carlo simulations. While Monte Carlo simulations are a s...

Are you up to date with your FBAR (Reports of Foreign Bank and Financial Accounts)? If not, a cross-border financial advisor might be able to help you get things straightened out. Eli Noff is a U.S. based cross-border CPA and tax attorney who helps American citizens living abroad be U.S. tax compliant. Specifically, Eli outlines how FBAR reports are a determining factor in tax compliance. He expla...

How can you prepare and encourage your children to develop their own financial identity? Parents don't necessarily have a financial obligation to their grown-up children, but situations can arise where they may want to help their children. There's a fine line between helping and enabling financially bad behavior. How do you define that line? Listen to the show for the answer, or download the free...

What is the difference between term and whole life insurance? Term life insurance is pure insurance; you pay the insurance company a premium, and if you die within the predetermined period, then they'll pay your heirs/estate a lump sum of money.  Whole life insurance has a cash component – part of your premium goes into a savings account which you can access if you ever are short of cash.  The res...

How can you financially prepare for a divorce? Lili Vasileff, founder of the financial firm Divorce and Money Matters, helps people prepare for their financial future after a divorce. Doug and Lili discuss the common conflicts couples have regarding money before divorce is even mentioned. Lili shares advice that makes financial communication easier and takes some of the dread out of financial plan...

Exchange Traded Funds (ETFs) provide a different way to trade stock. But it's not simply another way. ETFs open themselves to multiple strategies. First of all, Doug discusses the fact that ETF tend to mirror a benchmark. But why not aim to outperform the benchmark? Then, the discussion extends to discuss some tax saving strategies you could implement using ETFs. (Remember, I never give specific t...

Mutual funds are frequently used by investors as a way to diversify their portfolio, and thereby minimize investment risk. One of the popular types of mutual funds is index funds . How are they traded, and who arranges the list of stocks in the index? What is the difference between active funds and passive funds ? Is one more aggressive than the other? Should you "feed your fund?" And, if you want...

Investors are continually bombarded with rules of thumb as to the best asset allocation. However, determining an asset allocation is not a simple formula. Tom Jacobs, money manager for Huckleberry Capital Management, doesn't believe in the old-fashioned asset allocation rules. He underlines unrealistic expectations of investment strategies and explores some of the industry rules that have created...

A global savings glut occurs when investors drive down interest rates. Is this trend coming to an end, meaning interest rates will climb? Do higher interest rates bring inflation? Today's guest, Will Denyer, an economist at the financial research company Gavekal, explains how the global savings glut impacts inflation… and your pocketbook. What would you do if the market was flat? Generally, the ma...

Does receiving stock dividends eliminate or mitigate the risk of investing in stocks? Why would an investor choose stocks without dividends? Ben Reynolds, founder of Sure Dividend, provides guidelines for investors who are looking for stocks which pay high-quality dividends. He explains what a dividend is and how investors can use dividends to their advantage. However, dividends also have disadvan...