web analytics
July 7, 2015 / 20 Tammuz, 5775
At a Glance
Blogs
Sponsored Post


Tishrei: A Time to Examine Your Deeds and Your Portfolio


Douglas Goldstein, CFP®

Douglas Goldstein, CFP®

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.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. 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. Contact at doug@profile-financial.com

The author's opinion does not necessarily reflect the opinion of The Jewish Press.

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.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

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

Comments are closed.

Current Top Story
Iranian Foreign Minister Javad Zarif in Vienna.
Iran Deal to Miss Fifth Deadline
Latest Blogs Stories
Arabs attacking the Light Rail outside Shuafat

Note the rocks’ size in the hands of these Arabs as they prepare to attack the Light Rail

U.S. President Barack Obama

Obama is not anti Israel. He’s just misguided, perhaps blinded by his desire to force a peace treaty

Theodor Herzl, founder of modern Zionism, and his famous quote

Herzl told the Zionist delegates,”If you will it, it is no dream.”

Doug Goldstein

Breakthrough adapts insulin to be taken as a pill instead of shot. Can it be applied to other meds?

Ramadan is SUPPOSEDLY a month of introspection & repentance; yet attacks on “Infidels” skyrocket

Israel wins the wars but LOSES the battles!

Moving to Israel seems crazy but this week’s my first “aliyaversary,” my Aliyah anniversary! WOW!

Israel & world Jewry are under attack and in grave danger but UN’s focus is denouncing Israel

What is human chess? How easy is it to predict the actions of others?

It’s time to stand up against the bias & no longer accept the constant UN prejudice against Israel.

Malachi Moshe Rosenfeld, injured in a terror attack in Samaria, has died (HYD)

Allah is NOT merciful: Stabbing, beheading, shooting innocents is barbaric & cowardly acts of terror

How could the Jerusalem Post think the attack could have been other than a terrorist act?

Going to Mt of Olives cemetery was like visiting Jurassic Park in a jeep with dinosaurs rampaging

Hanan Porat z”l, teary-eyed said ” We returned to the Gush(Etzion)we shall return to the Gush(Katif)

“Mispachology”: Theory you share a common link with someone you’ve never met or been in contact with

More Articles from Doug Goldstein, CFP®
Doug Goldstein

Breakthrough adapts insulin to be taken as a pill instead of shot. Can it be applied to other meds?

Doug Goldstein

What is human chess? How easy is it to predict the actions of others?

How can you transform thinking to action? What are the mountains you need to climb to reach goals?

Sharing tips for preparing to give a talk and how to get started in the world of public speaking.

Do young adults know the difference between needs and wants? How can they develop good money habits?

What are the real intentions of online sellers? and the BEST way to assess your product’s value.

How has Putin’s plan to revive his country’s fortunes as a superpower affected US on world energy?

What’s it like to live in a West Bank settlement & are these communities good for Israel’s economy?

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: