web analytics
October 31, 2014 / 7 Heshvan, 5775
At a Glance
Blogs
Sponsored Post
Meir Panim with Soldiers 5774 Roundup: Year of Relief and Service for Israel’s Needy

Meir Panim implements programs that serve Israel’s neediest populations with respect and dignity. Meir Panim also coordinated care packages for families in the South during the Gaza War.



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bring over essentials like washing powder and soft toilet paper or popular American consumer products is twenty years out of date.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, SIFMA, 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
Jo-map
So You Thought The Arab Israeli Conflict Was About Land? Here Is Why You Are DEAD Wrong!
Latest Blogs Stories
Jo-map

Let’s cut to the chase! The people who call themselves Palestinians are simply Arabs (Muslims) who came to this area from several Islamic regimes. This is not my opinion but rather what their leaders clearly say.

YG

Please pray for a complete recovery, רפואה שלימה for Yehuda Yehoshua Ben Rivka Ita Breindel Glick.

12

Obama/Kerry hate Bibi, because he is what they aren’t: smart and was a real soldier in the top unit.

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

Palestinian anti-Semitism in 2014 is more extreme and mainstream than German A/S in the 1930s.

Here are 5 quick facts that prove Jerusalem was NEVER A Muslim Holy City.

For further proof that there’s no justice for Jews in this world, the United Nations Security sic Council is planning to meet about Israel’s building plans. (Reuters) – The U.N. Security Council will hold an emergency meeting this week on recent tensions between Israel and the Palestinians in East Jerusalem due to Israel’s plans to build more […]

When is it a good idea to accept a “draw” and when is it better not to do so?

The AlephBet soup of American Jewish organizations must demand an apology and retraction from the Obama Administration to the Jewish People for this crass and vulgar insult to the leader of the Jewish People.

How bad is it? It is a battle royal tearing at the very heart of the yeshiva world.

Zionism brought Yesha to life, attracting Jews and Arabs to the area.

The “bag tax” is eco-terrorism against the Israeli consumer. Have our MK’s reviewed any studies on its environmental impact, or is it all just touchy-feely?

MS. PSAKI: He asked me if we thought he (molotov-cocktail throwing Arab-US citizen was a terrorist, and I said no.

Abbas’s charge of racism spans the entirety of Israeli society.

Why do people often sabotage their own success ?

The best locations for more housing is Yesha and Jerusalem because of convenience and low land cost

Weeping for the heroism of our soldiers, the miracle of our return home, the endless years of exile

More Articles from Doug Goldstein, CFP®
Doug Goldstein

When is it a good idea to accept a “draw” and when is it better not to do so?

Doug Goldstein

Why do people often sabotage their own success ?

Has the Jewish world adapted to the times? Hear the answer with Doug and his guest, Rabbi Berel Wein.

How do changes in technology affect the human life and our interactions with each other?

Discover the connection between hypnotism and investing on this week’s show.

Discover the motivations and the emotions that may affect investing.

Grandmaster Michael Adams talks about life as a professional chess player.

Why some countries are more economically successful than others? Tune in for the answer…

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: