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Aliyah and Money: Don’t Go it Alone

The various aliyah organizations, from Nefesh b’Nefesh to the AACI, ESRA, and many more, are all on hand to provide advice, information, and moral support.
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Are you, or someone close to you, thinking of making aliyah? If so, you’ll probably use the services of Nefesh B’Nefesh, because it’s much easier to settle in a new country with their help. The same principle applies to your finances. It’s much easier to manage your money with the help of a financial advisor.

Here’s why

As most olim will tell you, there’s a lot to do when first settling in. You need to get used to a new language and climate and at the same time, you must find work and a home. The various aliyah organizations, from Nefesh b’Nefesh to the AACI, ESRA, and many more, are all on hand to provide advice, information, and moral support, making your transition into Israeli society much smoother. Through them, you will find out the best job opportunities – or how to retrain in your profession if that’s what is necessary. You will also get a clearer picture of your rights and what kinds of assistance exist for new immigrants. And some of these organizations also provide cultural and social activities, helping you to build up new friendships in your new country.

In the same way, when you want to begin investing, going it alone is not such a good idea. Do you have the time to do all of the necessary research into investments and markets? Are you familiar with the investment and tax problems that U.S. expatriates have? And do you have the financial background to understand the all the available information? Remember that time is also money, and you can lose a lot of money through inefficient investing.

So if you want to manage your finances more effectively, don’t go it alone. Get some help and make a plan. Call your financial planner today.

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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.


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One Response to “Aliyah and Money: Don’t Go it Alone”

  1. Myriam Obadia says:

    Oh please, strike Nefesh B'Nefesh from your list of helpful organizations. I was dumped by them in Israel and had to get help from the Chabad.

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