When I recently offered a client the services of a money manager, he was surprised and asked, “You’re my financial guy, so why don’t you trade my account? Do you have some secret tool in your back pocket?”
I’ve heard this question quite often, and the answer is that having a third-party money manager alongside a financial planner can help clients get the best of both worlds…. Read more
Is the U.S. taxation system unfair to American citizens living abroad?
If you are a U.S. expat who earns all your income overseas and even pays taxes to your new country of residence, you still have to report your earnings to Uncle Sam. You need to provide this information by filing U.S…. Read more
If you’re an American citizen, filing your FBAR (Report of Foreign Bank and Financial Accounts) is even more important than planning your summer vacation. The FBAR deadline was changed for 2016, and is now due on April 15 2017.
The FBAR form is a report of any financial account,… Read more
America’s greatness is her policy of equality to all and nondiscrimination. Rosa Parks is famous for her stance on refusing to give in to racial discrimination. Who will be the Rosa Parks and stand up against America’s policy of geographic discrimination?
FATCA discriminates against American citizens living offshore since these expats (who by and large file and/or pay taxes without having direct representation) are required to file the form,… Read more
A dual citizen, residing in one country and keeping assets in another, should consider currency diversification.
Currency exposure isn’t only about which currency (USD, EUR,NIS, GBP, etc.) your assets are in, but currency diversification is also determined by the underlying investments in your account.
Mutual funds are generally considered good diversification tools as they are built so that the movement of any one security in the fund won’t dramatically affect the product’s value…. Read more
The typical image of retirement used to be of Grandma sitting on her rocking chair knitting, supporting herself with the sizeable pension checks Grandpa received in the mail. However, this picture no longer represents today’s retirees.
While life expectancy has steadily grown longer, people often continue to retire at the same age that they did decades ago…. Read more
Countries reduce their deficit by cutting spending and raising taxes. Neither move is very popular. On The Goldstein on Gelt Show I spoke with David Leonhardt, Washington Bureau Chief of The New York Times, about possible solutions to governments’ deficits. Leonhardt noted that despite cuts in spending and raising taxes America still has a deficit problem…. Read more
If you worked in America before moving to Israel, chances are you have an IRA account.
Should you transfer your retirement accounts to Israel?
An IRA is an “Individual Retirement Account.” There are several types of IRA (i.e., traditional, Roth, simple, and SEP), but the main differences relate to when taxes are paid…. Read more
Does having more money make you happier?
Interestingly enough, studies show that the very wealthy may not be significantly happier than “regular folk.” I recently discussed this issue on The Goldstein on Gelt Show with Michael Norton, associate professor at Harvard Business School and the co-author of Happy Money: The Science of Smarter Spending…. Read more
When you retire, will you spend your time worrying about your financial situation or enjoying yourself?
When a newly retired couple recently visited my office, they gave me a rundown of their recent expenses. These included traveling, buying gifts for their children, and membership dues to various organizations. They worked hard,… Read more
