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December 21, 2014 / 29 Kislev, 5775
 
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Posts Tagged ‘bank’

My Great Grandmother

Monday, November 19th, 2012

If you look up the word “role model” in the dictionary you will find the following definition: “a person whose behavior, example, or success is or can be emulated by others, especially by younger people.”

This is the ideal description of my great-grandmother. To me, she is more than just an ancestor in my family tree, she is the epitome of inspiration. She has proved herself to be a rose among thorns and a woman of valor. I am genuinely proud to call her my grandma and I am so blessed to have such an awesome person in my life.

“You don’t have to be a ‘person of influence’ to be influential. In fact the most influential people in my life are probably not even aware of the things they taught me,” (Scott Adams). If I had one hour to be with the person of my choice it would surely be my Grandma.

In May 1911, a very special being came into existence. Her name is Paula. Back then, she was just a decedent of her grandparents, but now she is the heart of the Felsenstein Family. Grandma’s loving nature and uplifting spirit is what makes people, including her family and friends, gravitate towards her. Although Grandma endured many difficult challenges throughout the years, she refused to be limited by circumstance. The long, arduous journeys that Grandma embarked on are ones to remember and pass down to the generations coming.

I can learn much about the act of giving and being selfless from my Grandma. Living in Germany she used to generously give food to the hundreds of people who lined up outside her door. Grandma and her husband owned a horse-hair brush company which also made hats for British soldiers. Both of their products were purchased by Buckingham Palace.

Grandma married young, and a couple years into her marriage the Nazis started gaining power. Grandma and her husband fled to England where they were assured safety, although their plan of escape was far from simple. They were forced to walk across mountains for days, at one point paying people to help them cross borders in the back of an ambulance truck. I am trying hard to visualize the kind of agonizing hardships they’ve lived through. And the truth is, I probably would not be able to handle it the same way they did. The amount of faith and belief they had is simply indescribable.

And the miracles. Before they left Germany, Grandpa put all his money in the bank, leaving everything behind. In 1945, when the war ended, they returned to Germany without a penny to their name. Then a neighbor called asking to buy their house. Grandpa went to the bank and discovered that all of Grandma’s jewelry had been stored in a safe under their name. Grandma and Grandpa were extremely grateful for the miracles Hashem did for them.

About 40 years ago, my grandparents moved to Israel, where Grandma continues to live as a widow.

My desire and longing to be with my Grandma right now grows stronger and stronger each day. At 101 years old, my Grandma is the strongest lady I know – mentally and emotionally. Despite her old age, Grandma is constantly helping others and imprinting the lives of many with her inspirational and motivating stories. I strive to be like her in the way I live my life and hope that one day, when I have kids, they will live that way as well.

A wise man once said, “Someone who influences the thoughts of the people around her influences all the times that follow.” I love and cherish my Grandma unconditionally.

Three Ways That Your Pension May be Spent Before It Enters Your Bank Account

Friday, November 2nd, 2012

When saving for retirement, you may feel secure because you’re putting aside earnings into a pension plan. However, what you may not realize is that some of that money is going to be spent even before it reaches your bank account.

There are 3 ways in which your pension can disappear:

1. Taxes. Having a work-related pension is important because no matter how many years you worked, government social security programs won’t meet all of your post-retirement needs. As helpful as your pension is, be aware that some type of pension plans are taxed as ordinary income when you start taking withdrawals.

2. Debt.  If you still have debts (mortgage, credit cards, or other loans) when you retire, they will need to be paid before your discretionary expenses.  If you are having a hard time making ends meet before you retire, imagine how much more difficult it will be post-retirement on a smaller paycheck.

3.  Charity.  Retirement shouldn’t spell an end to your charitable donations.  If you are careful to give 10, 15, or 20 percent of your income to charity during the years before your retirement, why should you stop post-retirement? To paraphrase the beggar from Fiddler on the Roof, “Just because you’ve retired, I have to suffer?” Depending on your pension and other income-producing investments, you may not be able to make as generous donations as you once did, but certainly charity shouldn’t stop when you retire.

Remember that numbers can be deceiving – after taxes, paying off debt, and giving charity, the amount of your pension may not match the amount deposited in your bank account.  While this sounds drastic, adequate planning can help make up the shortfall.

So before your retirement income is spent before you actually retire review the figures so that you can be prepared. To make this easier, use these easy-to-use calculators to work out how much you are spending on existing loans, mortgages, and more.

Bank of China May Have Helped Hamas Kill Jews

Sunday, October 28th, 2012

Terrorist groups, like Hamas, the Palestinian Muslim Brotherhood, are enterprises like businesses, non-profits, and government agencies. Hamas, in fact, is a government, controlling the 141 square miles and 1.7 million people of the Gaza Strip.

Human enterprises are organisms with systems for sustenance, logistics, command and control, etc. They also have ideologies, and that of Hamas calls for violent jihad against the Jewish state. Its usual tactic is murderous terrorism against Jewish civilians. So, in 2008, a Hamas terrorist entered the Mercaz HaRav Yeshiva in Jerusalem and murdered eight students, seven of them teenagers, and wounded many others.

Enterprises can’t survive without nourishment. Hamas is nourished by a worldwide network of governments, Islamic charities and individuals that support its goal of killing or dispersing the Jews.

But the existence of the sources of nourishment isn’t enough. Since Hamas is a recognized as a terrorist organization and sanctioned by the US and other nations, there are impediments to transferring funds to it which can be translated into weapons, ammunition and jihadist expenses.

Sometimes this is facilitated by ‘respectable’ enterprises that are officially opposed to terrorism and murder, but in fact do whatever makes them a buck.

Like the Bank of China, according to the Israel Law Center — Shurat HaDin, which has filed a $1 billion lawsuit in a New York court accusing the bank of materially supporting Hamas terrorism.

The plaintiffs allege that starting in 2003, the national Chinese bank executed dozens of wire transfers for Hamas totaling several million dollars. These transfers were initiated by the Hamas leadership in Iran and Syria, processed through BOC branches in the United States and sent on to a BOC account in China operated by a senior militant. From there, the funds were transferred to Hamas and other terror groups in the Gaza Strip and West Bank.

In April 2005, Israeli counterterrorism officers met with officials from the Chinese Ministry of Public Security and China’s Central Bank. The Israelis demanded that the Chinese officials take action to prevent the BOC from making any further such wire transfers. “Despite these warnings the state-owned bank, with Beijing’s approval, continued to wire funds for terrorism, all while declaring that they did not consider Hamas a terrorist group,” stressed [Shurat HaDin director Nitsana] Darshan-Leitner. [my emphasis]

According to the complaint: “Most of these wire transfers were made to account #4750401-0188-150882-6 at a Bank of China branch in Guangzhou, China, in the name of ‘S.Z.R Al-Shurafa.’ The owner of the account, Said al-Shurafa, is a senior officer and agent of both Hamas and the Islamic Jihad.”

The Bank of China has released a statement saying, in effect, that they would never dream of doing anything to help terrorists. But the complaint is persuasive in its argument that the bank’s officials had plenty of information about what Hamas was doing with the money it was transferring.

This would not be the first time that Shurat HaDin — a private legal organization — has struck a blow for victims of terrorism. In May, it obtained a $330 million judgment against Syria for its part in a 2006 suicide bombing in Tel Aviv that killed a 16-year old American. Although Bashar al-Assad is unlikely to pay it, it can be enforced against Syrian assets like bank accounts and real estate in the US.

Will the families of the Mercaz HaRav massacre victims be compensated? Maybe or maybe not, but if Israeli officials were unable to get the Bank of China’s attention in 2005, they have it now.

Visit Fresnozionism.org.

Investing In Your Relationship

Wednesday, October 24th, 2012

I often share with my clients a simple yet powerful analogy: think about your relationship as you do about your bank account. That’s because investing in your relationship is similar to saving money; the more you put into your bank account or relationship, the more you can take out when necessary.

The way to develop your emotional wealth is to invest as much equity as possible, so when the going gets tough, you can dig into your savings and avoid going into the red.

Investing in your relationship takes time and effort and is a challenge for all couples. In my own life, for example, I believe my relationship is so important that my wife and I try to schedule time alone together at least once a week to focus on our relationship. Despite the pressures of our busy lives, we try to creatively make sure we are investing in our marriage. Sometimes we go out to a restaurant to eat or just take a walk down the block together. Other times, we go grocery shopping or head to the local convenience store in order to enjoy a few minutes alone just schmoozing about our day. When life goes into overdrive and time is limited, we take a “time out” for ourselves, and spend a few minutes in a quiet and secluded room in the home just talking to one another.

It really doesn’t matter what you do or what you talk about during your private times together. What matters most is to give your spouse the feeling that he or she is the most important person in the world.

Of course, the way to build emotional equity in a marriage is to make as many deposits as possible. In general, positive statements like complimenting one another, sharing appreciations and speaking kind words are “deposits.” Every time you tell your spouse that you appreciate them, or their actions, you are building more emotional wealth. You can even think of a compliment as a dollar. Imagine how rich you could become if you increase the amount of times per hour you compliment your spouse!

And it’s not just complimenting that works; actions speak louder than words. Helping each other with daily tasks such as shopping for food or just cleaning the house are ways in which couples can increase their emotional equity. The point is that it doesn’t take a large budget, or a lot of time, to build a relationship. Even the simplest gestures can make a difference.

The opposite is also true. Couples will deplete their emotional savings by criticizing and exercising external control. Trying to force one another via manipulation or by insulting each other decreases emotional wealth, and can even put some relationships into bankruptcy.

At the end of each month, I suggest that couples take a look and see how their emotional savings account is developing. They should check how many deposits they’ve made and how much was withdrawn. The goal is to become aware of the overall growth of the relationship and to see if it is getting stronger, or needs more nurturing.

The Miraculous Bamboo Tree

One way to illustrate the need to invest in the long-term sustainability of your marriage is to look at the miraculous growth pattern of the Chinese bamboo tree.

It seems that this tree when planted, watered, and nurtured for an entire growing season doesn’t outwardly grow as much as an inch. Then, after the second growing season, a season in which the farmer takes extra care to water, fertilize and care for the bamboo tree, the tree still hasn’t sprouted. So it goes as the sun rises and sets for four solid years. The farmer and his wife have nothing tangible to show for all of their labor.

Then, along comes year five.

In the fifth year that Chinese bamboo tree seed finally sprouts and the bamboo tree grows up to eighty feet in just one growing season! Or so it seems….

Did the little tree lie dormant for four years only to grow exponentially in the fifth? Or, was the little tree growing underground, developing a root system strong enough to support its potential for outward growth in the fifth year and beyond? The answer, of course, is obvious. Had the tree not developed a strong unseen foundation it could not have sustained its life as it grew. The same principle is true for people.

Borough Park Shomrim Nab Bank Robber

Wednesday, October 24th, 2012

A bank-robbing bandit was no match for a group of boychiks from Brooklyn, being arrest after an armed spree thanks to the assistance of the famous Hasidic Shomrim.

Entering a Brooklyn bank on Wednesday wearing a red skeleton mask and black gloves and brandishing a gun, suspect Kevin Crawford, 20, demanded $4,000 in 20 dollar bills and wished teller Maria Masallo “Happy f—king Halloween!”

The masked robber was soon followed by witnesses, only to be caught and held by Borough Park Shomrim volunteers, unarmed civilian patrollers from the Orthodox Jewish neighborhood whose mission is to thwart burglary, vandalism, mugging, assault, domestic violence, nuisance crimes, and anti-Semitic attacks.

Crawford allegedly held up the Dime Savings Bank of Williamsburg on Tuesday, making off with $1,960.

On Wednesday afternoon, he held up the Emigrant Savings Bank on Myrtle Avenue in Fort Greene, shouting curses at the teller.  When she did not immediately respond, he fled.

NIS 1 Billion in Mortgages Granted in First Half of October.

Monday, October 15th, 2012

In the first half of October, NIS 1 billion have been granted in new mortgages.  Considering that seven days were taken up by Jewish holidays, this is a robust number, according to a report by Israel’s Globes business magazine online.

The report states that Israel’s housing market has been heating up all summer, with many of the properties being purchased for investment.  NIS 3.2 billion in new mortgages were granted in September, a drop from the record NIS 5.8 billion granted for mortgages in August, but a 7% increase above the same month last year.

Will Your Grandma Be a Victim of Financial Abuse

Thursday, October 11th, 2012

Have you ever met the kind of guy that would sell his own grandmother down the river?

Since more and more elderly people are being swindled and financially abused every day, it’s crucial to learn how to protect your grandmother and other seniors you care about.

Why are the elderly so susceptible to financial abuse? After all, chances are that they worked for many long years and have achieved the wisdom of experience. While they were young and fit, they surely had the opportunities to protect themselves, so what makes them vulnerable now?

Three reasons the elderly get scammed

1. Generally, as individuals grow older they tend to become more isolated from others. Perhaps their spouse has passed away and their children don’t live close by. The loneliness and isolation that this creates can make a person more vulnerable and open to parting with money… if it leads to companionship. For example, if Grandma is suddenly bombarded with invitations to free lunches and seminars, she may at first go simply for the company rather than any real interest in the subject of the event. She may find herself “befriended” by the organizers and convinced to invest in a dubious scheme because her defenses are down now that these people have been so “nice” to her.

2. Modern technology. An elderly person who has little experience with computers and knows only how to send or reply to an email may easily fall prey to scams such as fake charitable appeals asking for a credit card number in order to make a donation, a bank password for depositing some unexpected funds that don’t really exist into his account, and so forth.

3. The worst threat of all: seemingly concerned relatives and caregivers who have their own hidden agenda. One of my clients recently told me that she had to fire her elderly father’s home healthcare worker because he had almost managed to get the old man, an Alzheimer’s sufferer, to write him into his will. The caregiver was caught just in time. And then there are the unscrupulous relatives who have been given power of attorney for a relative and they gradually whittle away all their resources until there is nothing left at all.

Sadly many of these offenses go unreported because the victims may be too embarrassed to admit that they made such a big mistake, or no one is monitoring the situation.

If you’re caring for an elderly parent or grandparent, keep an eye on what’s going on, both with their physical health and fiscal health. If you have power of attorney over their bank account, review it periodically and investigate suspicious activity. Find out what’s happening if unexpectedly large sums are disappearing. Observe all caregivers, and do strict background checks on any much younger new “loves” or prospective new spouses who suddenly appear.

Protect Grandma and other seniors in your life from becoming victims of fraud by educating yourself about how to be vigilant against scams and implementing  tips against elder fraud. After all, a broken hip may be easier to fix than a broken bank account.

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/will-your-grandma-be-a-victim-of-financial-abuse/2012/10/11/

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