web analytics
April 24, 2014 / 24 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.



Two Great Financial Reasons to Make Aliya


Goldstein on Gelt

Share Button

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bring over essentials like washing powder and soft toilet paper or popular American consumer products is twenty years out of date.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.

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.

Leave a comment (Select your commenting platform)

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

Loading Facebook Comments ...
Loading Disqus Comments ...
Douglas Goldstein
Current Top Story
Border Police take charge of  Yitzhar's Od Yosef Chai Yeshiva while students are on vacation.
Brave Israel Police Stand Guard at Empty Yeshiva to Stop Violence
Latest Blogs Stories
Logos of the Arab Bank

The State Department is said to want the court to intervene on Arab Bank’s behalf for foreign policy reasons.

U.S. Supreme Court Building in Washington, D.C.

The U.S. recognizes the “West Bank” as having “sovereignty” for passport purposes, but not Israel?

Adolf Hitler and the representative of the Palestinian Arabs, the Mufti of Jerusalem, Amin al-Husseini, December, 1941.

Hitler promised Husseini that “solving” the Jewish Question in the Arab lands was part of Nazi Germany’s plan.

Loving couple next to the Old City Walls in Jerusalem, prior to their wedding. August 13, 2013.

There is no song that tells the story of freedom like Shir HaShirim.

The IDF will take everyone’s #WeAreHere stories and create an interactive, dynamic honor to the Shoah survivors.

Peace, true peace, isn’t up to us. We’ve offered it on gilded platters forever. Nothing we do will bring peace to our Land.

The Justice Department allows the FBI to use demographic mapping, but the NYPD no longer can.

Check out the IDF’s most innovative weapons (at least the ones they can tell us about.)

When will the State of Israel decide the Palestinian Arabs are a hostile enemy and treat them as such?

Like Hamas, Hezbollah also builds tunnels. Those tunnels pose a serious danger to IDF border patrols.

Visa has ads in an Egyptian magazine in which a story describes Jews as vampires. And worse.

World Council of Churches expresses solidarity with “Palestinians” ‘languishing’ in Israeli prisons.

The Seder: We starve (during the sometimes endless recitations and discussions) and we feast.

The unique skills of people on the autistic spectrum adds great breadth to IDF intelligence work.

Passover is a road that we still travel, a long journey from slavery to freedom.

In Iran, 131 offenses are punishable by death, including blasphemy, adultery and homosexuality.

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/two-great-financial-reasons-to-make-aliya/2012/06/06/

Scan this QR code to visit this page online: