web analytics
January 27, 2015 / 7 Shevat, 5775
 
At a Glance
Blogs
Sponsored Post


Two Great Financial Reasons to Make Aliya


Goldstein on Gelt

For those of us who have already moved to Israel, the following sentence probably sounds very familiar: “I’d love to live in Israel, and I’d move there tomorrow. But –”

What are the usual reasons for your family and friends to postpone moving to the Jewish State?

1. The economy is so fantastic in America. This sentence is usually accompanied with a sigh and statements like, “I need my creature comforts. I just couldn’t live without my Starbucks coffee or Trader Joe’s.” Well, perhaps you know something that Federal Reserve chairman Ben Bernanke doesn’t. After all, he was the person who recently said that the “U.S. economy is expanding moderately, but there are still clouds on the horizon.” Now compare that to Israel, where the IMF (International Monetary Fund) anticipates a growth rate of 2.8% in GDP during 2012 and the possibility that Israel may become a major gas exporter due to recent gas discoveries. Indeed, there may be reasons to think the American economy is gradually improving after the economic crisis of the past few years; after all, it has improved corporate earnings and lowered unemployment figures. But still remember that Israel is not a third-world country. And by the way, the quality of life has improved so much in Israel that the perception of needing to bring over essentials like washing powder and soft toilet paper or popular American consumer products is twenty years out of date. Indeed the influx of refugees across Israel’s borders show that it is one of the most desirable countries in the region.

2. I love paying day school tuition. These days, sending your child to a Jewish day school in Manhattan can cost you more than $30,000 per year. If, like many Jewish families, you have more than one child, this can become prohibitively expensive. Compare this to the relatively low tuition that we pay for schools in Israel that teach both Jewish and secular studies. This includes any kind of school that you want, from a secular Israeli day school to a Talmud Torah. Indeed, tuition costs and the quality of education has been a major factor for many families when considering whether to make aliya.

Moving to Israel involves many considerations, including financial. If you’re seriously considering moving to Israel, or if you already live in the Promised Land, make sure you know about living in dual currencies and investments/pension plans that straddle the ocean. There are two tax codes to consider, and different forms of accounting. Make sure you get advice, pre- and post- aliya, from professionals who are qualified to handle your investments. For a broad introduction to personal finance and investments, as well as specific information pertaining to the Israeli financial scene, read my book, Building Wealth in Israel.

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


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.

One Response to “Two Great Financial Reasons to Make Aliya”

  1. I need nothing I Just need Israel! I Need help to make Aliya! Rabbi Leon Pettyjohn!

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Hassnain Aliamin , one of four Muslim teenagers who attacked a Jew in Gateshead.
‘Let’s Go Jew-Bashing’ Muslims Hauled into British Court
Latest Blogs Stories
Auschwitz Entrance

How do we make sure the Holocaust is relevant to new generations?

Brutal evacuation of Amona

In 2006, Amona kids saw their teachers and rabbis being thrown from windows as if they were garbage

Photo posted on Fatah Facebook page, removed Jan.3, 2015.

No money should go to terrorists or their families; anyone involved in terror must pay the price

kiruv-shafran

Responsible Jewish outreach encourages BTs to retain and to enhance their relationship with parents

Israelis will vote for Likud because of Caroline Glick, but she’ll just be Right window dressing.

What are the dynamics of running a family business and what are its impact on family relationships?

The Hareidi paper HaMevaser wanted to have their cake and eat it too: use the photo; lose the women

Producer Chuck Wang explains how you can learn from mistakes and move on towards success.

Chareidi women who want to run for political office don’t suit the full definition of “chareidi.”

France inviting Abbas to the “anti-terror rally” makes me doubt it takes Muslim terrorism seriously

How could a Jewish family hide on the 3rd floor of a hotel where the Germans were on the 1st floor?

No Charedi leader has suggested a change that would make a difference to a failing paradigm

What is the “rookie mindset” and what can new trainees offer to the workplace?

And now for MORE Muslim musings-Go Ask Ayman-

This terror won’t respond to reason or logic. It must be hunted down. Destroyed. No trial/No talking

Israel as the Jewish State insures freedom of worship and security of Jews here and around the world

More Articles from Doug Goldstein, CFP®
Doug Goldstein

What are the dynamics of running a family business and what are its impact on family relationships?

Doug Goldstein

Producer Chuck Wang explains how you can learn from mistakes and move on towards success.

What is the “rookie mindset” and what can new trainees offer to the workplace?

What is the “latte factor” and why do women need to be in control of their finances?

In our first podcast for this week, 4 healthy money habits that you can adopt.

Can you trust your children to run your finances when you get older?

How does humor help you reach out to your clients and succeed in business?

How climbing mountains can help you run a successful business and scale other peaks in your life?

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/two-great-financial-reasons-to-make-aliya/2012/06/06/

Scan this QR code to visit this page online: