# Entrepreneur of the Week Gil Torielpost 2 Hello, financial education at the beginning of this post I will start and write that Lat…
# Initiated week Age of Toriel
Post 2
Greetings,??
Financial education???? ♂️
At the beginning of this post, I'll start by saying that for my taste, every person should plan their financial future for retirement with respect. Here and now and better one hour earlier in order Who can live with dignity without the daily worries of the survival journey For regular payments such as mortgage, electricity, water, property taxes, rent and more for retirement age, anyone can.??
This is a basic education that must be in every school or educational institution. When people reach an older age after a lifetime of work and many years of work, there is no reason for them to be "supported" by the state, social security and / or family factors, which unfortunately is the direction more and more nowadays. In my personal opinion, most families in the country (without making a generalization, of course) have not acquired a financial education, since most of them are in a permanent deficit known as "overdraft". Many families are in the endless rat race for the source of livelihood. People are afraid to check the status of their bank account, loan balance, interest on loans, their pension savings component, in my opinion sometimes even they do not know at all what the money is invested in.??
People prefer to get up early in the morning, hard work you found The warmth to the soul's end And chasing the tail of themselves rather than acquiring education Basic financial. Is this a decree of fate?
Not at all, it is also possible to conclude otherwise.??
Education for proper economic conduct is not an option. To my mind, not attending basic financial education here is like not brushing your teeth and saying that your teeth will be fine a few years later. It doesn't work that way.
The difference between people "Poor " People "rich"Here at state of mind And of course, the tools they use are run daily with money, purely financial tools. Sometimes that makes all the difference, how many people have won huge winnings, lotteries and more left after a few years? 1 in 3 people ! The difference is in the thinking and the financial tools they have with these people who are likely to be simply clicked and did not know how to use the money.
Fact:
Many Israelis are on a permanent basis
To view the article click on the link below
What is Financial Education?
Financial education produces a financial orientation that enables better management of the family's economy on a current and retirement basis. Changing thinking patterns are a first step to a quality and quiet economic future for the future.??
Extensive information Information on investing in:
In real estate, capital market, economic terms, interest, money, loans, types of loans, ordinary principal, Spitzer table, balloon / grace loan, supplementary loan, indexation of inflation, stocks, bonds, foreign currency, bad debt, Business day, loan repayment capacity, early repayment fee, bank guarantee, short / long-term bank deposits, cost of money, current interest rate, repayment schedule, line of credit, collateral, bank credit, check, credit rating, good debt , Bad debt and more.(I.e.
What is pension savings:
Pension savings are defined as "My Finance, Ministry of Finance"
Pension savings are a means by which every person should save during his or her life's work place in his workplace and will be used for pension money in retirement with dignity after many years of strenuous work.
It is customary to save through "funds" such as provident funds, executive insurance, pension funds, study funds and more.
Today this method is structured so that every saver uses his money to pay those who have retired and when that saver reaches retirement age the money of other savers is used. Where the problem begins. In the past people started saving at an early age and there was a lot more money in the savings banks. Currently the younger generation is not interested in starting to save at a young age as it is “enjoying”. Also people nowadays tend to move from place of work to another place of work during their life several times, these facts significantly reduce the money saved in the savings funds over the years.??
The savings rate is consistently declining in light of rising cost of living. Families are forced to use their free daily income to save money.
The Treasury is constantly raising the retirement age with such excuses, the reason being that there is simply not enough money for the state to pay for the pension age and the National Insurance Institute's deficit consistently grows every year.
Cost of living is constantly rising but income is not rising accordingly. There is an increase in life expectancy but income and savings do not increase accordingly.??
* All entities that manage the pension savings take such and such management fees. Sometimes up to about 30% of the savings throughout the years of pension savings regardless of the performance of the funds. The money is sometimes invested by the same real estate investment houses and leveraged for the benefit of those entities with our money. Sure, it's our money so they do not have the fear effect… In my opinion it is a misuse of money-saving savers.??
Most people die for fear of making investments and generally overseas. And see what a wonder in a simple check in the annual financial statements detailing the money savers it turns out that a lot of money is invested overseas in Europe and the US to generate returns for investors. Do not know whether to laugh or cry here.
During times of crisis, the pension portfolio has been significantly cut for pension savers and the money saved and the monthly allowance is significantly reduced. (Guess it will be fixed over the years). Now those who retire are injured.
To read an article on the subject click on the link provided
For the first time in the pension market: a double-digit negative monthly return on public savings "
According to market estimates, the camel market has recorded negative returns of 12% -10% since the beginning of March - the weak month is more than 20 years
The mutual fund market redeemed NIS 40-35 billion this month and lost almost a quarter of its assets. "
Black February, how much does the Corona emulate from your training fund:
Build a loan from your pension fund
Think again
To read the article click on the link provided
My personal conclusions:(I.e.
The state is using these funds for its current activities and therefore does not exist, who thinks that the retirement benefits in these funds will help him live with dignity and financial well-being for the pension does not live the reality of living in La Lend.
The Treasury wants to postpone retirement age from 67 to 70 and is considering The retirement model… I wonder why?
And that will continue to do so all the time in my personal opinion and I expect that in 30 years, retirement age will be towards the age of 80.??
Most of us work to earn a living but sometimes it is not enough for old age and current expenses for a living that we will not talk about saving and buying a private home.
In order to reach a financial anchor and passive income that exceeds our fixed expenses and allow us economic freedom that does not depend on our profession. "to invest"And do not save, because in saving we are losing our most precious resource, which is time.
In order to reach a financial anchor and passive income that exceeds our fixed expenses and allow us economic freedom that does not depend on our profession. "to invest"And do not save, because in saving we are losing our most precious resource, which is time.
Saving is the slowest way to get rich.????
There are risks to every type of investment. The alternative of doing nothing and sitting on the fence seems far more dangerous to me. Remember our time resource is the most precious resource we have in life, don't waste a signal for nothing.
Someone smart and experienced once said:
Robert Kiyosaki says, "savers are losers."
They literally lose money every month by keeping it in the bank. So, what does the rich do? They buy assets. They buy real estate, they buy gold, or they buy fine art.??
People who save money at the bank lose money over the years, wealthy people buy assets, asset values rise, inflation works in our favor when asset value increases.
inflation It is a figure describing the rise in prices in the economy. Inflation is measured through the Consumer Price Index, which examines the change in the price of a basket of products and services that represents average consumption in Israel.
Inflation is an economic term that describes a process of a general, continuous and constant rise in price levels in a country. This leads to a decrease in the value of money.??
An example of inflation :
When I was a child, an ice popsicle cost 0.5 NIS today. The same popsicle costs about 4 NIS - this is an example of inflation over the years.
That is, a continuous decline in the value of the currency, the power of money has eroded over the years. At exactly the same amount of money, we used to be able to buy more than we can buy today.
The rise in prices of basic products is not equivalent to an increase in income over the years and therefore our money value has eroded over the years.??
Similarly in bank savings, we lose our most important resource and it is time because the value of money / purchasing power of money in bank savings is eroded on a regular basis as a result of inflation.??
That is, a continuous decline in the value of the currency, the power of money has eroded over the years. At exactly the same amount of money, we used to be able to buy more than we can buy today.
The rise in prices of basic products is not equivalent to an increase in income over the years and therefore our money value has eroded over the years.??
Similarly in bank savings, we lose our most important resource and it is time because the value of money / purchasing power of money in bank savings is eroded on a regular basis as a result of inflation.??
Interesting example:
A house that cost $ 100,000 in 1967 in the US is worth about $ 2020 today in 870,000
To view the source of the information click on the link provided
Between 1967 and 2020: Housing experienced an average inflation rate of 4.18% per year.
Exactly the same house - it's because Inflation Over the years.
If we buy an investment property and leverage it at a fixed rate loan. The value of money is eroded because of inflation but the monthly repayment is fixed and the value of the house increases so inflation works in our favor and it is a much smarter and profitable way to save money than a bank savings over the years.
What is the reason why mortgages in Israel, only a proportionate interest rate can be obtained over the years? (And if the interest rate becomes very high), because over the years inflation and indexation will already cost us a lot of money and the percentage of profit for the bank will rise significantly throughout the life of the loan.????
If we buy an investment property and leverage it at a fixed rate loan. The value of money is eroded because of inflation but the monthly repayment is fixed and the value of the house increases so inflation works in our favor and it is a much smarter and profitable way to save money than a bank savings over the years.
What is the reason why mortgages in Israel, only a proportionate interest rate can be obtained over the years? (And if the interest rate becomes very high), because over the years inflation and indexation will already cost us a lot of money and the percentage of profit for the bank will rise significantly throughout the life of the loan.????
My personal recommendation:
Buy real estate, leverage it as much as possible, take out a loan that has a fixed interest component for as many years as possible and let the loan and inflation fund savings work for you over the years to increase the value of your investment to create retirement savings.??
Loan fund savingsA: Every loan has principal and interest repayments, each year our tenant pays the loan fund and this is a savings plan for everything.??
Loans can be received today at the expense of a provident fund, executive insurance, an education fund Which are open according to their seniority up to 80% of the cash amount at the box office, one half. Or interest payments only and / or interest and the loan principal is for a period of 7 years and / or 84 months. I also recently heard about 15-year loans at the expense of these funds. Imagine a situation where a simple investment of 7-8 years can make 80-100% return on equity, ie double the pension savings! crazy.??
Loans can be obtained on an existing property account That you own and invest in long-term real estate as a savings plan for creating a pension.??
Long-term loans can be obtained based on financial strength Through banks in Israel and the United States and invest in long-term real estate as a component of pension savings.??
Business strategy needs to be planned for ten / fifteen years For every person and / or family.??
Saving time for pensions to create passive income independent of occupation, anyone can, is a must for my taste.????
Must be used
OPM - OTHER PEOPLE MONEY
OPT - OTHER PEOPLE TIME
Let your tenants pay your mortgage money and use the bank's money to buy real estate to create a pension component, prepare a plan of income / expenses, assets / liabilities of each of you and prepare a long-term business plan, no shortcuts. There are knockouts in boxing arenas.??
Personal opinion only:
In Israel it is customary first of all to buy a house, to be enslaved for 25-30 years of her mortgage, to use the money of the parents as an advance (sad in my eyes that our parents' money is used as an advance instead of our parents who worked hard for many years. I recommend starting to invest in real estate at a young age and at the same time rent an apartment. A component of savings should be produced in the first years and established financially and only at a later age to consider buying a privately owned apartment for living. The higher our equity the less economic To rent an apartment, there are hundreds of thousands of people living in Israel who, if they sell their property and / or take out a long-term loan at the expense of the property and invest wisely in real estate, will create a long-term pension and upgrade their quality of life.
This lack of knowledge is no excuse, on the contrary a reason to learn and go out and do.??
Most investments are on an emotional basis and not on an intellectual basis.
In the US and Europe, the rate of tenants is 40% and on a steady upward trend.
Real Estate Investment Strategy -
I am a big proponent of long-term investments including smart leverage that generates tax benefits, loan fund savings, the possibility of future leverage, current returns and passive income construction that is independent of occupational retirement.
Although it is better for the pension age to be in our 40s-50s.????
Why invest in real estate:
Here are the long-term benefits of investing in real estate
· Real estate is a passive income, a long-term cash flow anchor
Hard demand for roof and living space - people always need a roof
· The rental market - during the crisis, the rental market strengthens
· When interest rates on loans fall, real estate prices rise
· Declining interest rates, dollar exchange rates strengthening - profit from currency
Roller Coaster - Real estate is not as sensitive as the capital market and much more stable
Over the years, real estate prices have risen historically
· Interest on loans decreases, monthly repayment of mortgage decreases
· Hard demand for new construction
Thousands of new construction starts in the US
· Real estate is a long-term investment, a long-distance run
· Bank interest rate zero, in negative Europe
· There are restrictions on loans, withdrawing money from provident funds / executive insurance
· Real estate continues to the next generation as opposed to retirement
· You can also earn money from the bank, interest / return differentials
Investments have always been of the world rich in real estate and property - a fact
· Money works for us and not the other way around - 09:00 - 18:00 Not destiny
Passive income independent of occupation - mandatory for every person
· Equity invested increased due to inflation and rising real estate prices
· The goal - to generate high revenues from our fixed expenses
· The freedom to do what we want when we want, financial freedom
Tolerance, perseverance, consistency is the name of the game on the road to success
These are my personal opinions and every person may think differently of course.
I'd love to hear what you think, what are the alternatives for creating a pension component?
I'm all for investment diversification:
Investment in businesses, pension funds, cash, foreign exchange, green energy…
Most importantly, invest in long-term real estate in the component of your investment portfolio to create a passive income that does not depend on occupation and / or a savings plan for retirement.??????
Already plan your pension component??
We were born to retire at a young age…?????? ♂️
What we will talk about tomorrow:
How to choose an investment area? The parameters for choosing an investment area ..✅
How do you analyze an investment property? The parameters for choosing an investment property ..✅
Will be interesting..
Hope I have contributed a bit from my worldview for the welfare of this forum readers
"Remember genius is in the making"
Get out of the comfort zone and do ..??
Best regards,
Age of Toriel
Good luck to everyone??
Cheers ????
* The contents written above do not constitute a substitute for financial advice and are only general information, which does not constitute binding financial advice and should not be relied on in any way. Any action taken according to the above information and details is the sole responsibility of the reader. In any specific case, a qualified professional in the field should be consulted. Each person may invest as he pleases and seek the professional advice of qualified professionals.
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