Investment Expert Challenges Perceptions of Haredi Economic Burden
תומצת מתוך Kikar HaShabbat על ידי baba
Investment professional Tamir Mendoevsky has challenged the notion that the Haredi (ultra-Orthodox) community is a significant economic burden on secular Israelis, citing that yeshiva budgets are only 0.27% of the national budget. He also criticized Israel's broad welfare system, advocating for targeted aid. Mendoevsky highlighted the financial pressures on Haredi families regarding early marriages and the risks of "get-rich-quick" schemes. His investment philosophy promotes long-term, patient investing in broad market indices.
הידיעה ב-6 שורות · תקציר של baba
- Investment expert Tamir Mendoevsky stated Haredi yeshiva budgets are only 0.27% of Israel's national budget.
- Mendoevsky argued that the perception of Haredim living off secular Israelis is factually incorrect.
- He criticized Israel's universal welfare system, advocating for targeted aid instead.
- Haredi families face financial pressures related to early marriages and are vulnerable to scams.
- Mendoevsky promotes a long-term investment strategy focused on broad market indices.
- He believes true financial security comes from capital ownership and patient wealth growth.
Investment professional and author Tamir Mendoevsky has sparked debate by defending the economic contribution of the Haredi (ultra-Orthodox) community in Israel. Mendoevsky, author of "Investments for the Lazy," stated that the perception of Haredim solely living off the secular population is factually incorrect. He pointed to the budget for yeshivas, which amounts to approximately 1.9 billion shekels out of a total state budget of about 700 billion shekels, representing only about 0.27% of the national budget.
Mendoevsky argued that many Haredim work hard, support their families, and some even serve in the military, suggesting anger is often misdirected. He also criticized the universal welfare system, particularly universal old-age and disability benefits, advocating for targeted aid for those in genuine need to prevent extreme poverty while reducing state intervention in citizens' lives.
The expert highlighted the financial challenges faced by Haredi families, especially concerning the cost of marrying off children, which occurs at a younger age compared to secular families. He noted that many Haredi families lack long-term financial planning and fall victim to "get-rich-quick" schemes out of desperation. Mendoevsky adapted his book for the Haredi community, titling it "To Marry with Dignity," which also faced criticism for removing images of women, a move he downplayed as minor.
Drawing inspiration from the slow-moving sloth, Mendoevsky's investment philosophy, "Investments for the Lazy," emphasizes long-term investing in broad market indices, viewing volatility as a temporary risk. He advises that market downturns are opportunities to buy assets cheaply and stresses the importance of separating short-term needs from long-term investment goals. Mendoevsky believes true wealth and financial security are built through capital ownership and allowing money to grow over time, accessible to everyone regardless of advanced degrees.
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