Read Doug’s articles originally printed in The Jerusalem Post.
Profile Perspectives
Proper financial planning can change your relationship with money.
Lessons From My Father, the Financial Planner
Guest writer, Yosef Goldstein, Bar Mitzva Boy
Does your Abba make you do too many chores? Try this: Not only do I have to do my homework, make my bed, and do Shabbat jobs, but I’ve got to keep track of my money.
You see, in order to get my monthly allowance (which includes my bus fare to school),… Read more
Who Stole Your Retirement?
The Wall Street Journal ran a piece recently called, “The Economy Stole My Retirement.” They explained that the dreams of the small business owners who planned on selling their companies to fund their retirements were crushed. The article quoted the statistic that the median selling price for small businesses had dropped 25% from 2008 to $150,000 now…. Read more
Entrepreneurs Have Different Retirement Planning Needs from Salaried Workers
As a financial planner, I often tell my individual clients to build their financial future by saving for emergencies as well as for retirement. However, entrepreneurs often ignore this piece of wisdom. A study in the United Kingdom by Scottish Widows Savings & Investments discovered that one in five entrepreneurs have no funds left after they invested in new initiatives and paid off their company’s debts. … Read more
Retirement is Expensive
Retirement is expensive.
Some experts estimate that you’ll need approximately 70% of your pre-retirement income to maintain your current standard of living after you’ve stopped working. And, if you’re like those retired folks who choose to upgrade their post-retirement lifestyle, it may be even more expensive. Even if you think you’ll live a modest retirement lifestyle,… Read more
Do This Now So You Can Afford Your Retirement
While the concept of “effort is more important than the results” may be an important lesson for young children struggling in school or sports to learn, there are times when the final product is important, regardless of how much effort you put in. One of those times is saving for retirement…. Read more
How to Make the Most of Your Two Most Valuable Assets
Saving for retirement is all about priorities. Budgeting is a way to redirect your priorities. In fact, retirement planning isn’t as much of a decision “to spend or not to spend” as it is a matter of deciding when to spend. If you spend your money now, you won’t be able to save it,… Read more
How a CEO’s Management Style Could Diminish Your Profits
Behind every successful business there’s a great CEO. These CEOs know that the secret to success lies beyond physical or financial resources. Their best-kept secret is how they work with their teams.
To understand how different management styles affect my clients’ portfolios, I discussed this issue with Liz Wiseman, author of Multipliers: How the Best Leaders Make Everyone Smarter,… Read more
Should You Invest in Art?
Have you recently checked the attic to see if you have any paintings by famous Old Masters hidden away there? Or do you scour flea markets in the hope that you will find a famous painting that no one knew about? Such stories are usually the stuff of novels or news articles,… Read more
What Goldilocks Learned About Investing That You Should, Too
I love reading to my granddaughter. One of her favorite stories is Goldilocks, who didn’t want porridge that was “too hot” or “too cold.” She wanted it to be “just right.”
I like the story because it reminds me a lot of investing: your asset allocation shouldn’t be too risky or not risky enough;… Read more
Why Your Investments Must Be Different from Your Parents’
If you own a great stock or mutual fund, should you also buy the investment for your children? Or, if your parents tell you about a great performing investment that they own, should you go out and buy it for your own account?
In both cases, the answer is probably “No.” While having a high-performing asset is definitely desirable,… Read more