Goldstein on Gelt

Your IRA (Individual Retirement Account) is a great retirement tool. Are you using it in the most efficient manner? Kirk Chisholm, Principal of the Innovative Advisory Group, shares some common misconceptions and mistakes people make with their IRA account. Kirk explains the difference is between a standard account and a self-directed account. He encourages investors to consider the self-directed approach because of its flexibility. He stresses the importance of understanding your investments and knowing your options. Listen now learn how to use an IRA account to its fullest potential.

Fear plays a part in every investor's decisions. Are you letting fear paralyze your investments or are you able to manage your financial anxiety? In 2013, Doug interviewed Nobel Prize winner Gary Becker, and discussed the role fear plays in people's financial decisions. Doug compiled a summary of the interview along with a list of tips for nervous investors. Click here to download the tips. Free Download: If You're Afraid the Market Will Crash, Here's What to Do Learn more about Kirk Chisholm at www.innovativewealth.com. He is offering a free resource for Goldstein on Gelt listeners, download: 9 Common Mistakes Made By Self Directed IRA Investors. To learn more about Roger Whitney and his 5-minute retirement plan, go to rogerwhitney.com/5minuteretirementmakeover. 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 much money do you need to be happy? In other words, can financial stability bring happiness? Bestselling author of The Five Secrets You Must Discover Before You Die, Dr. John Izzo and Doug explore what happiness really is and the underlying question, "Does money make a person happier?" Dr. Izzo spoke to 250 people with 18,000 years of cumulative life experience and found one thing in common: your internal mindset about how you see money impacts your happiness more than the dollar amount in your bank account. Listen to his research that shows if financial stability really brings happiness.

Doug discusses the many different ways you can choose to handle your money – with or without a professional's help. He compiled a list of "7 Different Ways to Handle Your Money.* (Click here to download) which covers the right ways and the wrong ways to plan. Whichever way you choose to handle your money, make sure you and your spouse agree on it! If you would like a little more insight on including your spouse in portfolio planning, watch this video. Learn more about Dr. John Izzo can on Twitter, LinkedIn, or his website. 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.

Most people think of networking as a good way to find a job or make other type of connections. J. Kelly Hoey, author of Build Your Dream Network: Forging Powerful Relationships in a Hyper-Connected World, shares how networking can help or hinder your financial decisions. This is because networking is based on trust… a necessary ingredient in any financial advice you get. Kelly offers advice to listeners about how to build a trustworthy network that may open up new financial opportunities.

Saying no to your grown children requests for money teaches them self-reliance. While it may be a difficult lesson to implement, Doug presents a list of methods of "cutting your grown children off" so you can preserve your own retirement funds as much as possible. Create a realistic course of action to teach your adult children how to be financially independent. For a full list of steps to stop your enabling practices click here. Learn more about J. Kelly Hoey by reading her book Build Your Dream Network: Forging Powerful Relationships in a Hyper-Connected World, by visiting her website, or following her on Twitter @jkhoey. 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.

What is the difference between a stock's price and intrinsic value? Learn how to determine a stock's intrinsic value, and how to make sure you pay less than the value you receive. John Szramiak of Vintage Value Investing joins Doug to discuss the importance of knowing the intrinsic value of your stock selections. John is a firm believer that the intrinsic value of a stock is its real strength. Should you look at a stock's current price or the stock's potential? You don't even know how aggressive of an investor you really are! Believe it or not, many of your "safe investments" carry some level of risk (like inflation risk and interest rate risk). Doug compiled a list of these risks, and steps you can take to minimize the aggressiveness of your portfolio. Download this list now. To learn more about John Szramiak visit his website or follow him on Twitter @Vintage_Value 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.

Do your elderly parents need help with managing their finances? This is a difficult realization both for child and parent, and accepting and giving help needs extreme sensitivity. Letting go of the reins of a financial account is a process. Since this is a difficult conversation to have, consider inviting a financial professional to be an objective voice. Doug gives advice for adult children – and their parents - who find themselves in this challenging position. If you and your parents are at this crossroads, watch this video that might help adult kids and their parents discuss when to hand over financial decisions and accept help with finances. At a certain point being too trusting, or making bad financial decisions, is an invitation to a con artist. The financial bad guy isn't necessarily a stranger – it can be someone you know, maybe even someone who is close to you.

Financial planner Benjamin Brandt of the Retirement Starts Today podcast joins Doug to discuss the importance of having a written financial plan and flexibility. These two aspects aren't as contradictory as they seem, because both put the individual's financial goals first. Benjamin shares the values he emphasizes with his financial planning clients. Should you emphasize these points in your own personal financial plan? Follow Benjamin on his podcast on iTunes and at www.retirementstartstodayradio.com. Benjamin has even created a special page for The Goldstein on Gelt Show listeners at www.retirementstartstodayradio.com/gelt. 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.

Bobbi Rebell, author of How to be a Financial Grownup: Proven Advice from High Achievers on How to Live Your Dreams and Have Financial Freedom discusses how to be a financial grownup. Bobbi uses her journalist background to offer a how-to guide for responsible money habits. Although the book was originally intended for the millennial generation, Bobbi soon discovered that people of all ages need practical money advice. Bobbi suggests automation as a tool for making sure you have the necessary discipline to maintain financial responsibility. She and Doug talk about David Bach and support financial automation as a tool to reach financial goals.

Doug tackles the question, "can you save too much?" Doug also explores the potential pitfalls of pensions. While financial professionals tend to put an emphasis on saving, there comes a time when it is OK to withdraw principal from retirement accounts. Doug give pointers on when retirees can make the switch from saving to withdrawing. Follow Bobbi Rebell on her website, Twitter, Instagram, and Facebook. Her book is available on Amazon and in major bookstores. 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.

Stig Brodersen, host of The Investors Podcast, joins Doug on this episode to discuss exactly what gives a stock its value. Many times people are shocked are by an expert's valuation of a home, a car, or other personal item. The reason behind the surprise of a professional evaluation is because folks' emotional attachment to items tend to inflate their value. Follow Stig and Doug's discussion to learn why stocks value reflect investor expectations. Stig offers guidance about how to take the emotional component out of stock and investment selection. He also explains why a stock's value increases/decreases and why people are willing to pay more when a money manager is involved.

Doug discusses early retirement. Even if you want to retire early, should you? And if so, what do you need to do to make sure you have enough money? He answers the last question with two suggestions to change your investing habits in order to maximize chances of financial success. You can follow Stig Brodersen at The Investors Podcast and on twitter at @stig_brodersen 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 S&P 500 is an index (collection) of 500 broadly traded large-cap stocks. If your portfolio includes it, will you be properly diversified? Doug explains why even though historically the S&P 500 has had positive returns over long periods of time, past performance can't predict future results. Moreover, he explains why most people are mistaken in their understanding of how diversified – or not – the index actually is. Listen for tips on how to make sure your portfolio is well-diversified. Sometimes the best way to diversify is getting outside help. Watch here to see what type of money managers can help diversify your portfolio.

Jill Schlesinger, CFP® and business analyst at CBS news, joins Doug to explore whether today's economic landscape is significantly different than it was in the past. If so, should retirement planning and investment plans reflect the new outlook? Jill believes that the global recession taught investors how to look at the future, and we shouldn't look for a "best-case" scenario, but for the most reasonable scenario. She asserts that the best protection for all investors (including Americans living abroad) is a broadly diversified portfolio. Jill gives advice on what you should do if you think the market is particularly volatile. If you anticipate a big market crash, what move should you make? Listen to Jill and Doug's discussion to find out when a healthy dose of cynicism pay off, and how to prevent self-inflicted market wounds. Learn more from Jill by listening to her podcast, Better Off, and going to her website jillonmoney.com. Follow her on twitter @jillonmoney 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.

Does it seem as if more cash flows out of your wallet than into it? Is cash flow the key to growing wealth? If so, what is the best way to optimize cash flow? Doug and Al Zdenek, author of Master Your Cash Flow: The Key To Grow and Retain Wealth, examine why you should broaden your definition of "cash flow" beyond having just enough money to pay bills, to include participating in a regular savings program. Learn how to manage your cash flow now, in order to better prepare for retirement.

After working hard to save and grow your money, you want to make sure that it is accessible when you need it. Unfortunately, often after one spouse passes away, it's common for the surviving spouse to be frozen out of an account. Doug offers some advice to spouses on how to prevent this stressful situation. He offers some smaller steps that can make the difficult financial transition easier for a grieving spouse. Implement these preventative measures that can help the family avoid a frozen asset. If you have any questions about how involved your spouse should be in your finances, watch Does My Husband/Wife Have to Come to the Meetings? If you need to have the difficult conversation transferring financial control in your family, you might want to watch this movie. To learn more about Al Zdenek visit his website www.alzdenek.com, buy his book, or visit masteryourcashflowbook. 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.

One often overlooked sign of aging is your signature. As people age, often their handwriting and signature change. What does handwriting have to do with investing? Quite simply, if your signatures don't match it may be harder to move money. Doug talks about the importance of keeping up-to-date records with your financial institutions – including your (aging) signature. Learn about other financial implications that may affect senior citizens and get practical workarounds for some of the financial ramifications that come with age.

Cross-border investing is challenging for American expats. How can you find a financial advisor who understands your specific situation? Doug discusses how to choose an appropriate advisor and build a trustworthy financial team. He lists questions investors need to ask their financial and legal consultants before making an investment. Ask these questions to your financial team! Download a free tool kit for non-U.S. residents, who want to have an American brokerage account. To learn how to listen to The Goldstein on Gelt Show on your iPhone, watch here. To learn more about Roger Whitney and his 5-minute retirement plan, go to rogerwhitney.com/5minuteretirementmakeover. 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.