What does financial freedom look like to you? Believe it or not, everyone has different definitions of what financial freedom is. What situation would you have to be in to feel financially secure? Linda P. Jones, the founder of Be Wealth & Smart VIP Experience, an online investment program that mentors woman financially, joins the show today to discuss common conceptions of financial freedom and how ordinary people can reach financial security. Listen to learn the three components of financial freedom and the best way to find your personal potential for creating wealth. Linda published the book You're Already a Wealth Heiress! Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now, which is geared specifically for women who want financial freedom and are just getting started in the world of investing. However, she assures us that men can also benefit from reading the book! Do you know what to ask your financial advisor? Take charge of your first meeting with a potential financial advisor, and make sure to ask the right questions. Listen to learn the questions you should ask at your first meeting. If you are considering opening a U.S. brokerage firm account from Israel, make sure to download a toolkit on his corporate site. To learn more about Linda P. Jones listen to her Be Wealthy and Smart and The Money Tree Investing Podcast. 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.

Goldstein on Gelt

How A Woman Can Achieve Financial Freedom

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 address might impact your ability to open an account? Listen to Doug’s discussion with Joe Saul-Sehy, podcast host of The Stacking Benjamins Show, to talk about the process a cross-border investor goes through when a U.S. brokerage account is opened from overseas. Further, Joe has a lot of experience with cross-border investing and understands what an investor can expect from the experience. Not sure if you would benefit from an American brokerage account? Download the free toolkit for investors considering whether they should open an account. Download free resource: Toolkit for Opening U.S. Brokerage Accounts from Overseas Joe Saul-Sehy hosts The Stacking Benjamins Show. Follow him on Twitter @AverageJoeMoney  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.

Debunking the Myth That It’s Hard to Open a U.S. Brokerage Account

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 what the current laws are. Did you, or are you anticipating receiving an inheritance? Doug wrote a book geared to those who have received, or are anticipating receiving an inheritance. The Inheritance Book. The book is a resource for people who recently lost a loved one. The book contains 5 essential checklists to streamline the paperwork involved in claiming an inheritance. If you need a little help getting your inheritance paperwork form in order, Doug has created a free checklist to keep you on track. Download free resource: Inheritance Paperwork Form If you have follow up questions about estate tax, be in contact with Ron Zalben: ron@aboulafia.co.il. He is also available on Facebook and LinkedIn. 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.

Understanding Estate Tax

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 a certificate can be a tedious process, but it is necessary to claim or transfer any assets. Ron explains how someone receives a transfer certificate. Have you recently received an inheritance? If you received an inheritance that included a beneficiary IRA account, in order to avoid needless taxation, you need to open a U.S. brokerage. Doug explains why it is essential to find a cross-border brokerage firm. If you need a little help getting your inheritance paperwork form in order, here is a free checklist to keep you on track. Download free resource: Inheritance Paperwork Form Buy a copy of Doug’s latest book The Inheritance Book Ron Zalben can be reached at 02-6294272 or at ron@aboulafia.co.il. He is also available on Facebook and LinkedIn. 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.

How to receive an inheritance

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 the most appropriate can be complicated. In fact, Americans who recently moved to Israel may be surprised to find that an American power of attorney will not be recognized in Israel. There’s more to know about receiving an inheritance, other than getting cash! During September every episode is focusing on a different aspect of receiving an inheritance. Today’s episode focuses on what happens if you inherit an (Individual Retirement Account). Taking money out of a beneficiary IRA can have tax consequences so before you use the funds consult with a tax advisor, and before you invest the funds, consult with your investment advisor, as some types of investments may not be appropriate for an IRA. Doug explains what you should do if you inherit an IRA or need to handle any assets domiciled in the U.S. If you need a little help getting your inheritance paperwork form in order, here is a free checklist to keep you on track! Download free resource: Inheritance Paperwork Form To learn more about Russell Mayer send him an email mayer@lmf.co.il. Russell is a co-author in Doug’s latest book The Inheritance Book. You can buy the book at GoldsteinonGelt.com/books. 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.

Why Do You Need a Power of Attorney?

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 having a separate will (some things just aren’t meant to be shared!). The death of a loved one is difficult, but the dividing assets doesn’t have to be emotionally wrought experience. Determining what arrangements you want for your family before you pass can save a lot of potential legal battles. Welcome to Inheritance Month September is Inheritance Month on The Goldstein on Gelt Show. Every episode this month, will discuss a different facet of giving and receiving an inheritance. How should you handle an inheritance? What kinds of decisions should you make during an emotional time in your life? In today’s episode, Doug outlines three decisions you should not make when receiving an inheritance. Download a checklist of the paperwork you’ll need to claim your inheritance here. Download free resource: What Paperwork Is Needed to Claim an Inheritance To learn more about Russell Mayer, a senior partner at Livnat Mayer & Company, you can email him at mayer@lmf.co.il or call 02-679-9533. Russell is also a co-author in Doug’s latest book The Inheritance Book. Call Doug if you’d like to pre-order a copy 02-624-2788. 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.

Why is Having a Will so Important?

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 remember if you are an American expat, you should always work with a cross-border financial advisor who has expertise in your countries. Download free resource: The Mutual Fund Buying Checklist August is “How to Make Money in the Stock Market” Month The month of August is “How to Make Money in the Stock Market” month. All of August’s podcast will feature ways to invest in the stock market. 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.

How to Choose a Mutual Fund

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 ETFs is the answer to having a stress-free portfolio. Download a free resource that outlines the key components of ETFs. Download free resource: How to Choose ETFs and Have a Stress-Free Portfolio August is “How to Make Money in the Stock Market Month” on The Goldstein on Gelt Show The month of August is How to Make Money in the Stock Market Month. Every episode this month will feature ways to invest in the stock market. 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.

The Benefits of ETFs

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 professional financial advisor to build their portfolio, making sure it will both meet their investments goals and match their risk tolerance. The Smart Way to Pick Stocks is an in-depth explanation on stocks. Download free resource: The Smart Way to Pick Stocks   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.

So Many Stocks – How Do I Pick a Good Stock?

 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. There is a simple solution. How Profile Can Help You With over 25 years of experience with cross-border investors, Profile is able to open and maintain U.S. brokerage and IRA accounts for people who live outside the United States. Even though our office is in Jerusalem, we work with Portfolio Resources Group, which has clients in 35 countries. Our Jerusalem office focuses on clients in Israel, Europe, and the Far East. Listen to this podcast episode which tells you the basic procedures that clients need to know about transferring their accounts. Then, call the office 02-624-2788, and let’s start a conversation. 

Wells Fargo Ending Relationship with Overseas Clients

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 possibility of going broke? Doug created a list of signs that might possibly indicate a widow (or anyone else) may be in an unstable financial position. This free resource, Do You Recognize the 5 Warning Signs a Widow is Going Broke?, highlights all of the warning signs, and tells you what you can do to prevent financial instability. Download free resource: Do You Recognize the 5 Warning Signs a Widow is Going Broke? 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.

5 Signs a Widow is Going Broke

 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 strengthening of international relationships. We custody our clients’ accounts at Pershing, LLC. Member NYSE/SIPC, a subsidiary of the Bank of NY Mellon Corp. That means that all the assets are held in America, the statements are all in English, and all the accounts are compliant with IRS regulations. Beware of moving assets to Israel! Not only will tax-deferred accounts like IRAs lose their U.S. tax-deferred status, but U.S. PFIC regulations can make it very costly to invest in Israeli funds. Bottom line: there are two easy steps to handle your American investments from overseas: Listen to this week’s podcast Be in touch with me (call my Jerusalem office 02-624-2788 or fill in the contact form) 

The Easy Way to Reliably Handle Your American Investments from Overseas

 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? When prices rise, the Consumer Price Index (CPI) also rises. It may be prudent to buy TIPS (Treasury Inflation-Protected Securities) because they are pegged to the CPI. REITS (real estate investment trusts) are a popular choice because rising prices also spill over to property values. Increases in rent are directly paid out to REIT owners in terms of higher dividends. Listen to the episode to learn which investments are better avoided during times of high inflation (hint, CDs and annuities may fit into this category). 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. 

The Surefire Way to Stop Inflation from Decimating Your Investments

 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 positions may be tax advantageous Tax-deferred growth is a positive… unless your stock drops in value and you lose the opportunity for a write-off Don’t forget to make sure you take your required minimum distributions as required to avoid penalty payments. For other tips on how to invest and manage your IRA accounts, listen now! 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. 

Proven Tips for Managing an IRA or 401K

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 investments to side-step this costly tax. Ron, a partner with Aboulafa Avital Shrensky & Company, specializes in American and Israeli tax planning and compliance. Find out when an offshore mutual fund comes in pretty handy for a non-resident alien. American citizens though, you should stay far away from such funds! Non-resident aliens should consult with a tax professional before making a financial decision regarding a “U.S. situs” investment. What happens when a non-U.S. citizen dies with U.S. assets? The Goldstein on Gelt Show listener “Matt” asked Doug what was going to happen to his Israeli wife’s American assets when she dies? The answer opens the door for an official legal consult, but Doug still gave Matt a brief overview of what happens on the Israeli side. To contact Ron Zalben about tax issues (Doug is not a tax advisor), email him, or contact him on Facebook and LinkedIn. 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.

Are There Ways to Avoid Estate Tax?

The Goldstein on Gelt Show is a global investment and financial planning radio show designed to educate and entertain its listeners with financial strategies and investment tips. Douglas Goldstein, CFP® hosts the weekly show, which can also be heard at www.goldsteinongelt.com, and is the director of Profile Investment Services, Ltd., www.profile-financial.com.

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Goldstein on Gelt

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