Senior Economist Shachar Wolf Offers Financial Planning Advice
Senior economist Shachar Wolf, in a holiday interview, outlined his approach to financial planning and mortgage counseling, emphasizing accessible language and practical guidance for families. Wolf, who manages a community of approximately 70,000 individuals focused on financial improvement, aims to help families achieve their economic goals by mapping their current financial standing and desired future.
When advising on mortgages, Wolf stresses two key points: comprehensive financial planning to ensure monthly payments do not hinder savings for future expenses like children's weddings or compromise current living standards, and the necessity of regular mortgage reviews. He advises re-evaluating mortgages every one to two years, as market and personal changes can lead to significant savings through refinancing, potentially reducing monthly payments, shortening loan terms, or saving tens of thousands of shekels in interest.
Wolf highlighted the value of his community, 'Economy at Eye Level,' which provides accessible financial knowledge for wise management, investment in capital markets, and understanding economic news. Weekly challenges, guidance on responsible investing, and practical tips encourage members to take action. A recent 'member brings member' campaign, which saw overwhelming response, aimed to leverage the group's collective power for better deals with financial institutions and foster a motivated environment.
His firm offers a broad range of services, including mortgage counseling, financial planning, real estate, and insurance, all integrated to provide a holistic approach tailored to each client's financial profile. This comprehensive view allows for strategic redirection of funds, such as using freed-up capital from mortgage management or additional financing for further investments in real estate or other income-generating avenues, transforming mortgages from liabilities into tools for long-term wealth building.
Looking ahead to 2027, Wolf expressed optimism about the Israeli economy, citing its resilience and historical ability to emerge stronger from crises. He pointed to strong performance in the stock market, high birth rates, entrepreneurship, technology, and public resilience as drivers of continued recovery and growth. Regarding the real estate market, he noted a stable supply of housing but cautioned that future construction rates remain uncertain, advising thorough evaluation of each transaction for suitability and return on investment, with a safety margin.
Wolf also mentioned the success of his recent 'Economy at Eye Level' conference, which sold out weeks in advance. Planning is underway for another conference scheduled for a month after the Sukkot holiday, featuring leading Israeli economic experts and offering practical insights for attendees.
