“The most terrifying words in the English language are: ‘I’m from the government and I’m here to help.'” –Ronald Reagan
Regular readers of my column will notice that I have used the aforementioned quote from former US president Ronald Reagan多次. I love the quote and in these times of the novel coronavirus, it’s just perfect to describe what is going on. Regardless of which side of the political divide you find yourself, it’s clear that the government is inept and has become virtually paralyzed trying to help its citizenry get back on sound financial footing.
不要只归咎于总理内塔尼亚胡 - 世界各地的样子。全球经济是一个烂摊子，政府的持续干预已经加入到破坏。需要注意的是，虽然国家元首得到了责备，因为降压与他们停止，那些支付开展政策不能把工作做要么是很重要的。为什么我们一直希望我们的政治家来解决我们的问题，我是无法理解。Describing how government should be shunned as the solution to business woes, Ayn Rand said, “Government ‘help’ to business is just as disastrous as government persecution…the only way a government can be of service to national prosperity is by keeping its hands off.”
Government and Retirement
当我speak to people about retirement planning, I am often met with “I don’t need to plan for retirement because the government will save me.” My blood pressure spikes when I hear this. I think it’s important for individuals to take care of their own retirement and not rely on anyone else to do it for them. I can’t tell you how many meetings I have with people who have worked 25 or 30 years and have a small pension and get a whopping 2,500 NIS a month, approximately, from Bituach Leumi.
Taking care of your own retirement is even more important if you live in Israel. A while back I quoted Dr. Aviad Tor-Sinai and Prof. Avia Spivak at Ben-Gurion University of the Negev’s Pensions, Insurance and Financial Literacy Center research which showed that Israelis are in much worse shape financially for retirement than their European neighbors. “Income after retirement among Israeli pensioners stands at 65.9% of their before retirement income. The dramatic decline by age 67, just two years after retirement, includes income from all sources: labor, pension plans, social security, and capital income. When compared to developed European countries conducting similar surveys, based on data provided by SHARE, Israeli retirees suffer a greater decline in income than their European neighbors. Austrian pensioners, for example, enjoy 91.2% of their preretirement income; French pensioners retain 83.1% of their previous income, and Germans continue to earn 76.8% of their income.”
For those counting on Bituach Leumi, look out. With the government freely handing out money to every special interest group that protests, and increasing spending exponentially while incoming revenues crater, at some point you need to pay the piper. I am not sounding the alarm bell but it’s important to know that after decades of mismanagement and skyrocketing deficits, there is a real possibility that the government will not be able to meet their long-term obligations.
Take control of your own pension. First of all, it’s important to sit down and make a budget. By doing this you can get a clear picture of how much money is coming in versus how much money is going out for expenses. Too bad the finance minister doesn’t do this! Then create a disciplined approach to saving. Try saving at least 10-15% of your monthly income.
Since no one else is worrying about your future, make sure you take control of your finances, so that you will have a financially secure retirement.
manbetx苹果客户端亚伦Katsman是本书退休GPS的文章：如何定位自己的方式安全的金融未来全球投资（麦格劳 - 希尔），并且无论是在美国和以色列的持牌金融专业，并帮助人们谁开投资账户在美国。证券通过组合资源集团有限公司（www.prginc.net）提新万博取款周期供。会员FINRA，SIPC，MSRB，FSI。欲了解更多信息，请致电（02）624-0995访问www.sisoftball.com或电子邮件aaron@lighthousecapital.co.il。