Retirement with financial well-being: how is it possible?

by | Nov 10, 2023 | Caregiving, Uncategorized, Wellness & Health

Hello dear retiree! We have reached the day that most of us dream of reaching and as you know a dream is not a cheap thing. Let’s see how it is possible to reach retirement with financial well-being and do it responsibly and efficiently

פרישה לגמלאות ברווחה כלכלית. כיצד ניתן?

Do’s and Don’ts in Retirement

Do not do:

  • Do not make rash actions in the asset portfolio (pension, training, provident funds, real estate portfolio, etc.) without consulting an expert in the field.
  • Don’t become an overnight real estate, capital market, high tech and brewery investor.
  • Do not refuse to take the advice of an experienced and reputable expert because

“From all my teaching I have learned, because your testimony is a conversation to me.”

  • Do not take actions against the income tax without consulting a retirement planner, tax advisor or certified accountant. This tip can save you tens or even hundreds of thousands of shekels.


  • Summarize the flow of monthly income and expenses:

Why ?

Because in most cases the expenses in retirement increase more electricity, water, trips, a new car and even just to pamper the grandchildren.

You will be surprised to hear that the current income is decreasing.

  • Summarize all your assets and understand which ones give you a higher return and how you maximize their profits.

*For those of us interested in the definition of an asset, it is as follows: An asset is defined as a resource that is under the control of an entity and is expected to bring economic benefits to the entity in the future.

Example: real estate for investment, monthly pension, education fund and investment policies.

  • Build a routine for you, a daily schedule and goals to fulfill your dreams and what the cost of those goals will be and where you finance it.

I claim that a person who has no mountain to climb simply degenerates, we must find new peaks to conquer and achieve.

  • You will understand your full rights vis-à-vis the government authorities (income tax, social security) who are your partners whether you like it or not and try to pay as little as possible within the law of course.

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In my work, I encounter clients who are surprised to find out that it is possible to save money that they never dreamed of and that you can get more money from the income tax.

As part of Amendment 190 to the Income Tax Ordinance that took effect in 2012, the basket of exemptions for retirees has increased considerably. The problem is that the benefits are not given automatically but through a process called determination of rights (Form 161D). These forms, it requires the understanding of an expert from the field because it is a non-returnable form.

I met a lovely 68-year-old retiree who, to my surprise, paid about NIS 450 in income tax every month. After a short inquiry, I understood from her that she was sure that she was taken care of properly because she left a well-organized and large workplace.

After filling out form 161 D, establishing rights for an assessor in her area of ​​residence, she received a full exemption from paying the monthly tax and retroactive refunds from the age of 62.

She received refunds in the amount of NIS 32,000 and a future exemption throughout her entire life. With a quick calculation according to average life expectancy, she saved herself a tax worth NIS 151,000. Which in my opinion is a significant amount of money.

Is it also in your eyes?

We would be happy to hear your opinions on the matter, in the comments below.

For further advice, you are welcome to enter my company’s business page on Facebook – The Center for Retirement Planning and contact me!

You are invited to join the WhatsApp group regarding retirement.