ISO financial advisor for Israel related questions?

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Forum -> Household Management -> Finances

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amother

Wed, May 25 2022, 11:46 pm

My husband and I moved to Israel with a bunch of savings but without a huge income potential (he has a job here, but it pays waaaaay less than his job in the same field in the US). now we are looking at potential homes to buy here and we are really not sure how much of our money it is safe to spend, assuming that our income never drastically increases.

Who would be someone who would be equipped to give us really good advice? the money we have mostly came from a few windfall situations that are not likely to recur, and neither of us feel particularly financially savvy.

Of course if anyone can/wants to weigh in our situation here, please go ahead as well! I told my mother we are planning to spend a huge chunk of money on a house (possibly one that doesn't even exist yet--get it on the investment level) and she said that that thought makes her really worry for us! Yet people here seems to think it's a normal thing to do? I am not sure how to see this.

amother

Brunette

Thu, May 26 2022, 12:36 am

Following

amother

Thu, May 26 2022, 5:28 am

nobody?? maybe I need to post in Life in Israel

BadTichelDay

Thu, May 26 2022, 5:33 am

amother [ OP ] wrote:

nobody?? maybe I need to post in Life in Israel

Do that

You mentioned investment with places that haven't been built yet - I'd advise extreme caution with that.
Our relatives did that and lost their investment. Building started at the place but then the company went bancrupt in the middle and the planned block of appartments was never finished. It's a half-built ruin until today, years later. The money is gone.

amother

Thu, May 26 2022, 6:02 am

Oh no that's terrible!

Did they/do they have any ownership in the actual land, such that they even theoretically own something of value? or is there anything that in retrospect that they could have done to protect themselves, other than just not getting involved at all? That's really awful. (And yes, that's what my parents are afraid might happen to us...)

Okay, I'll post in Life in Israel. Thanks!

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