I speak with a lot of people about making aliyah. While I can address most financial planning questions, potential aliyaniks have tons of questions about everything: ranging from choosing a bank and bank account to choosing between renting and buying a home. Most of the time, the reason people don’t move to Israel is financial. People think it’s just to hard to make it here.
I recommend to everyone that they speak with Nefesh B’Nefesh, an amazing organization that has really lowered the bar for making aliya from the U.S.
That said, I think that there are 3 financial reasons to make aliyah — right now.
- Historically low exchange rates: what did he say? If the dollar is so weak right now (3.6 or so, egads), why would I want to move to Israel if the value of my home currency is eroding? That’s the point! Just like investing in the stock market, investors are best served by investing when things are cheap, on sale. The dollar/shekel exchange rate is historically weak right now. When it returns to a more normalized level of, say 4.3, that’s a 20% gain. Instead of the Big Mac index, I like to use the Felafel Index, and that’s a lot of falafel.
- Smart money is coming to Israel: The Donald did it and Warren Buffett is doing it in a major way. Warren Buffett bought Israel metal works concern, Iscar, for $4 billion. Not only that but he said that everyone at his firm Berkshire Hathaway thinks him the smarter for doing so. Giddy-up.
- The Internet makes for automated, recurring businesses: Reading Tim Ferriss’ 4-Hour Work Week should enable anyone with any reservations to make aliyah. Tim addresses how to live like a millionaire, even if you aren’t one yet. Tim’s ideal? Creating recurring revenue streams by setting up an Internet business. This could be an e-commerce business selling Ahava products on eBay or it can be selling research on Israeli companies in newsletter format. There’s even free Wi-Fi on Ben Yehuda.
It’s time to do it. Make the plunge with no regrets.
