Jane Hudson – Why Israel Entices So Many Retirees
Why Israel Entices So Many Retirees
15 percent of the Israeli population is over 65. Although Israel has a younger demographic makeup, there are plenty of things for seniors to do, and plenty of reasons for them to stay. It should come as no surprise, then, that Israel is a popular place to retire. Retirees come from all over the world to spend their golden years in the country. They are drawn by the quality of life, financial ease and government benefits that Israel offers.
There’s So Much to Do
For the wandering retiree, Israel has enough places to explore for several lifetimes. It is, after all, God’s country. The Dead Sea, Nazareth, the Sea of Galilee, Haifa and the Ramon Crater are just a handful of the amazing places you can visit in Israel. Several organizations offer guided tours of these historical and spiritual wonders, some of which are specific to seniors. If you’re not the exploring type, you can learn the Hebrew language for free at locations all across the country. This is just one of the many perks of being an Israeli citizen.
A Comfortable Life Awaits Frugal Retirees
The cost of living in Israel is lower than in Switzerland, Iceland, Japan and other countries of similar economic standing. So certain ex-pats will become instantly richer by retiring to Israel. However, just because you might get a slight financial bump thanks to the exchange rate, it doesn’t mean that you can retire to Israel on a whim. It is recommended that you have plenty of savings and benefits in place before pilgrimaging to the Promised Land. 10,000 to 17,000 shekels is the ideal monthly income for a retiree who wants to live comfortably but not lavishly. If you have a long way to go before reaching this income level, implement smart saving practices like essential and discretionary spending, whereby you only spend on things you need and save the money that you would have spent on things you want. The key to a comfortable retirement anywhere is frugal living beforehand.
The Government Offers Substantial Benefits
While people who move to Israel after the age of 60 are not usually entitled to an old-age pension, they may be able to access their pensions and benefits from their former countries. For instance, American ex-pat retirees still get Social Security payments. New Israelis can take advantage of numerous other government benefits, however. For starters, health insurance is free to all citizens of Israel. Israeli retirees then have their pick of financial assistance options like rent subsidies, reduced property taxes, discounted mortgage rates, and even stipends. Perhaps the most unbelievable benefit of all is that the government offers some retirees a free flight to Israel. There are few things the government won’t do for new citizens.
Israel is the perfect place for many retirees. The country is rich in history, spirituality, and culture; has a lower cost of living than some countries, and provides its citizens old and new with sizable financial benefits. If you can save enough money beforehand, Israel will take care of the rest.