Read Doug’s articles originally printed in The Jerusalem Post.
Profile Perspectives
Proper financial planning can change your relationship with money.
Dealing with Illness: 3 Ways to Avoid Financial Ruin
When one spouse falls ill, it creates a new reality for your family. Here are three tips to help you prepare for an unexpected illness or injury in your family.
Create a Contingency Plan
You and your spouse should establish a plan that addresses your financial needs, healthcare needs,… Read more
Navigating Cross-Border Finance: Strategies for Family CFOs
Managing family finances goes beyond just dealing with local banks, paying bills, and filing taxes. When family members live in different countries, each with its own rules and financial systems, things get complicated. This complexity can cause the family’s CFO (the person in charge of the family’s money) stress when he needs to navigate different financial systems and tax codes…. Read more
Why U.S. Brokerage Firms Drop Clients Living Abroad
Are you an overwhelmed CFO of your family, juggling the financial responsibilities of loved ones across borders? If so, you’re not alone. In my years as a financial planner, I’ve encountered many individuals exhausted by the complexities of managing investments for family members, especially when it involves cross-border regulations.
The challenge often begins when family members move abroad (hooray for aliya!) only to discover their U.S…. Read more
Health Crisis: A Brief Financial Guide for Olim
What do your overseas investments have to do with medical care and family dynamics?
Picture this: A couple in their seventies who have invested a substantial portion of their wealth in U.S. assets. They are comfortably retired in Israel and have Israeli grandchildren. Unfortunately, some of these grandchildren face health challenges that require financial assistance beyond what their kupat holim (HMO) provides. … Read more
Your U.S. Broker Doesn’t Support Overseas Clients. Now What?
We recently onboarded a client whose U.S.-based broker dropped her after she moved to Israel, despite her being a loyal customer for 20+ years. In recent years, American brokerage firms have ended their financial relationship with clients living overseas, meaning someday you could find yourself in a similar situation. If so,… Read more
The Smart Couple’s Guide to Financially Surviving Illness
When you come home from the doctor with a major diagnosis, after you call your family members, consider calling your financial advisor.
Why? Because changes in physical health can also affect your fiscal health. It’s better to plan for a worst-case scenario which never happens than to struggle with the financial ramifications of illness. … Read more
How to Manage Your Finances After a Divorce
Divorce often brings a whirlwind of emotions and challenges, and for many, it can significantly alter financial circumstances. Through years of advising dual citizen olim, I’ve witnessed firsthand the financial challenges divorce brings. It’s not merely about having (or losing) money; it’s about navigating the division of assets in a fair way,… Read more
Should You Put an Inheritance in a Joint Account or Keep it in Your Name Only?
If you live in Israel and receive an inheritance from someone who passed away in America, should those funds go in your name alone… after all, you were the beneficiary… or should you put them in a joint account with your spouse?
The right answer depends on your unique situation. Over the past 30 years of helping individuals who receive USD inheritances (including inherited IRAs),… Read more
Interested in Lowering Financial Stress? Hint: Work Together
Sometimes couples have trouble managing money because they struggle to make joint decisions. If you and your spouse are on different pages in terms of spending and saving priorities, frustration can build over time. In my 30+ years of being a financial planner, I often feel like a family therapist as well as an investment professional…. Read more
Challenging Retirement Stereotypes: A Guide to Pursuing Purpose After Your Career
I recently met with clients who challenged the traditional narrative of retirement. The meeting, which began with focusing on managing their U.S. investment portfolio, evolved into a profound discussion about personal fulfillment post-retirement. The couple, approaching “retirement age,” chose not to “wind down,” but to rediscover themselves. The husband, a psychologist,… Read more