web analytics
April 16, 2014 / 16 Nisan, 5774
At a Glance
Blogs
Sponsored Post
Spa 1.2 Combining Modern Living in Traditional Jerusalem

A unique and prestigious residential project in now being built in Mekor Haim Street in Jerusalem.



Tishrei: A Time to Examine Your Deeds and Your Portfolio


Douglas Goldstein, CFP®

Douglas Goldstein, CFP®

Share Button

What did you do when you built your portfolio? Did you invest the money and then simply walk away? Did you then expect to take another look in ten years’ time and find that you had miraculously become rich?

The financial world, like many other things in life, is always subject to change. Markets go up, and markets go down. What if there is a war in your part of the world, or a huge banking crisis? The financial markets are affected by so many outside factors, a lot of which are not necessarily as dramatic as the above two examples but still have their ramifications upon investments. For this reason, it is always a good idea to take a periodic check of your portfolio to see if the level of risk is still appropriate and if you need to readjust your investments in favor of something that would be better for your present circumstances.

This fiscal check could be compared with the annual reevaluation that Jews are supposed to make at this time of the year. The months of Elul and Tishrei are a time to examine your deeds. You look at what you have done over the past year and where you are going. Are the decisions that you made in the past for yourself and your family still right for you, given the circumstances in your lives that may have changed during the year? How have various challenges that you may have undergone affected the way that you live your life? When you look at the future, what do you see? Although you cannot predict what will happen, there are certain things that you may need to keep in mind and prepare for. Are you prepared for these events?

Spiritual accounting is similar to the financial accounting. In order to be an effective investor, it’s a good idea to sit down once a year with your financial adviser and ask:

- What has happened over the past year that might have changed the balance in your portfolio? – Which of your investments have become more or less risky as a result of market performance? (Learn more about assessing whether high or low risk is good for you.)

- What are your goals for this year, and do you have the means to accomplish them?

- Do you need to change anything in order to improve your financial situation? And if so, exactly what?

- What are the pros and cons of any possible financial move that you may be considering, in terms of hidden costs and taxes, as well as potential profits?

With best wishes in starting the New Year with renewed spiritual strength…and a reevaluated, stronger portfolio.

Share Button

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning firm located in Jerusalem. He specializes in working with clients in New York, Florida, and Israel and is a licensed financial professional both in the U.S. and Israel. Securities are offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, SIFMA. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Doug’s newest book The Expatriates’ Guide to Handling Money and Taxes is available at www.expatguidetomoney.com. He hosts a weekly finance show, Goldstein on Gelt, on internet radio. Listen live or download podcasts. Toll-free from U.S. 1-888-327-6179, Jerusalem: (02) 624-2788. Follow on Twitter: @DougGoldstein or contact at doug@profile-financial.com.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

No Responses to “Tishrei: A Time to Examine Your Deeds and Your Portfolio”

Comments are closed.

SocialTwist Tell-a-Friend

Douglas Goldstein
Current Top Story
The interior of the El Ghriba synagogue on the island of Djerba, Tunisia, in 2009.
Tunisian Jew Stabbed in Djerba
Latest Blogs Stories
Justin Hayet (second from right) at the State University of New York at Binghamton, supporting Israel against anti-Israel attacks.

Pro-Israel leaders on campus are as important as the troops in the IDF and professional hasbaraniks.

Children re-enacting the Exodus from Egypt, in southern Israel, April 10, 2014.

The seder reminds us of our freedom now that we are home again in the land of the Nation of Israel

IDF Crew Chiefs on Elite Helicopter Mission. Jan. 13, 2014

IDF helicopters are ready to act on a moment’s notice to defend the State of Israel.

The Samson Super Hercules aircraft ensures the IDF can safeguard Israel from far beyond her shores.

Rudoren and the Times are determined to go the extra mile to humanize Barghouti.

Gazans are among the principal victims of the terror-addicted Hamas Islamists.

Factors that you need to take into account when deciding whether to rent or buy a home.

Intelligence organizations seek enemy’s secrets; for the past 35 years, all secrets are on computers.

Guest Blogger Robert proves that one must not eat any Matzah on Pesach based on an article in Vosizneias.

Students most in danger of going OTD are those with damaged egos from teacher inattentiveness.

It is unfair to judge a 52 year old man with the glasses of a person who lives in a different world.

The president of the Cambridge Satchel Company talks about the exponential growth of her company.

The Arabs didn’t miss an opportunity for peace. Their goal has always been something else entirely.

Before Begin’s policy of withdrawing from Land liberated in the 6 Day War, today’s scenario was unthinkable.

Rosh Chodesh Nissan commemorates the very first mitzvah.

More Articles from Doug Goldstein, CFP®
Doug Goldstein, CFP

Factors that you need to take into account when deciding whether to rent or buy a home.

Doug Goldstein, CFP

The president of the Cambridge Satchel Company talks about the exponential growth of her company.

He won the Nobel Prize for chemistry, now Dan Schechtman wants to be president of Israel.

gnite Social Media created social media programs for companies such as Microsoft, Nike and Disney.

Learn how to navigate the new business paradigms so customers can find and purchase your products.

Stable banking systems: by design or by default?

In the first part of this week’s podcast, Diane Coyle, professor of economics at Manchester University and author of GDP: A Brief But Affectionate History and The Economics of Enough, talks about measuring economic progress. What is the GDP (gross domestic product), and is it really an accurate benchmark for understanding economic performance? Find out […]

    Latest Poll

    Now that Kerry's "Peace Talks" are apparently over, are you...?







    View Results

    Loading ... Loading ...

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/tishrei-a-time-to-examine-your-deeds-and-your-portfolio/2012/09/04/

Scan this QR code to visit this page online: