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| Sample Retiree Budget |
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Article Details
Last Updated
27th of January, 2009
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Following is a simple table to assist you in projecting your cashflow upon arrival in Israel.
ASSUMPTIONS
All sums are in US Dollars.
All furniture, appliances and clothing are shipped from North America.
Upon arrival, you will be renting your residence.
Car expenses include, fuel, insurance, registration and maintenance, but not cost of purchase.
Family Size- 2 adults (but costs will not be cut in half for a single)
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Monthly Expenses |
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Start up costs |
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| Rent |
$600-$1500 |
Note that a retirement home will cost considerable more and require maintenance |
House Setup |
$1,000-$1,500 |
(furniture assembly, electrician, plumber) |
| Transportation- Car |
$500-$650 |
Public transportation will cost approx:$200 |
Release of shipment |
$1,000-$1,500 |
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| Food |
$550-$800 |
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| Phones/Cellphones/Internet |
$150-$250 |
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| Utilities |
$150-$300 |
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| Health Insurance |
0-$250 |
There is a variety of upgraded health plans and private policies. Availability and costs of medications and treatments should be carefully investigated. |
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| Other Insurance/Medical expenses |
$200-$300 |
includes life, home, property, as well as dental and optical care |
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| Entertainment |
$150-$350 |
includes cable, occasional movie, restaurant, vacation |
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| Municipal Taxes (Arnona) |
$10-$100 |
representing 90% discount for first year. |
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| Total Estimated Monthly Expenses |
$2,310 - $4,500 |
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| Visitor Comments |
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Comment #1 (Posted by Howard Pielet)
I assume that car repairs and insurance are included, but it seems that setting aside money for the next car is not included. Moderator: that is correct.
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Comment #2 (Posted by Elliot)
If I make Aliah are there any restrictions on my coming & going between Israel & America? Do I have to spend a minimum amount of time in Israel? Are there any restrictions regarding anything that I should be aware of? Moderator: You are permitted to leave and return Israel at any time. However, in order to retain your entitlement to National Health Insurance, you will need to be in Israel for at least 183 days each year.
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Comment #3 (Posted by Gary Dalin)
Please cite the condition of owning an apartment: What would be typical taxes for that apartment instead of rent?
Does the car expense assume 100% ownership of the car and only reflect insurance, fuel and maintentance?
What about other misc. items such as drivers license fees, cable tv, shul dues, clothing (cleaning and repair)?
What does it cost for a weekly housekeeper?
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Comment #4 (Posted by Helen)
How long must one work in israel inorder to receive an israeli pension or social security? Moderator: The best source for information on entitlement to Israeli pensions and National Insurance is www.btl.gov.il/english.
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Comment #5 (Posted by david rubin)
Why aren't health insurance costs simply covered under Kupat Cholim? Moderator's Note: Many Israeli's decide to pay for enhanced kupot plans or private health insurance.
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Comment #6 (Posted by Duane Gainsburg)
Assuming I buy appliances, furniture, etc in Israel, how does the Sample Budget change?
Thank you. Moderator: those items you listed are all upfront costs. They are not included in the monthly budget above.
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Comment #7 (Posted by Simon (Shimon) Leopold)
Please advise ASAP as to how much taxes the Israeli government will take from my small SSA benefits & al;so small pension!! SSA +-$1000.00 Pernsion+-$190.00/month.
I need this info so as to be in a position to learn whether or not i can afford to retire in Israel or not!!!!
P.S. I am a dual national Israeli/U.S. and have never used any Teudat Oleh benefits since 1998 when I received Israeli Citizenship!! Moderator: The Israeli government will not take any tax out of these benefits.
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