Photo Credit: courtesy
Doug Goldstein

Do your elderly parents need help with managing their finances? This is a difficult realization both for child and parent, and accepting and giving help needs extreme sensitivity.

Letting go of the reins of a financial account is a process. Since this is a difficult conversation to have, consider inviting a financial professional to be an objective voice. Doug gives advice for adult children – and their parents – who find themselves in this challenging position. If you and your parents are at this crossroads, watch this video that might help adult kids and their parents discuss when to hand over financial decisions and accept help with finances.

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At a certain point being too trusting, or making bad financial decisions, is an invitation to a con artist. The financial bad guy isn’t necessarily a stranger – it can be someone you know, maybe even someone who is close to you.

Retirement planning requires some flexibility

Financial planner Benjamin Brandt of the Retirement Starts Today podcast joins Doug to discuss the importance of having a written financial plan and flexibility. These two aspects aren’t as contradictory as they seem, because both put the individual’s financial goals first.

Benjamin shares the values he emphasizes with his financial planning clients. Should you emphasize these points in your own personal financial plan?

The Goldstein On Gelt Show is a financial podcast. Click on the player below to listen. For show notes and contact details of the guest, go to https://goldsteinongelt.com/radio-show

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Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm specializing in working with Americans living in Israel who have investment accounts in America. 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
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