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Alon Gal advises: This is how the single parent will take care of her daughter - and herself

The business coach is coming to Walla! Business: Every week Gal advises in areas of life that concern us all. This time: a single mother who has lost faith in the system and wonders how she will worry about her daughter's future

• Alon Gal
• Bonds
• Single mother

Alon Gal

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Single mother (illustration photo: shutterstock)

A listener, a single mother, who aired on business coach Alon Gal's show on 103FM Radio told him about a savings plan she had opened for her daughter. In view of the lack of transparency of the banks, it has begun to lose confidence in a body that keeps its money safe and is now at a crossroads. "All I have saved so far is just for her, she is not financially independent. I have savings in the bank that I happened to find out he is completing a 4 and a half year plan next month. Unfortunately I lost confidence in general from the government and below, also in banks and not in vain. "I have confidence in you. You have proven yourself, I have a total loss of trust in the establishment and in its frameworks. I am debating what to do, it's all for the sake of my only daughter, which is very important to me."

Gal agreed with her: "The biggest disease that has happened to us in Corona, more than the health disease and even more than the economic disease - it is the disease of trust. The configuration of the institutions caused us to lose trust, they honestly gained it. Trust was lost in systems that should see us, treat us And note, this is a very big breach because the contract on which citizenship is based is first and foremost the citizen's trust that the systems will do what they need to do - and that trust has been violated. "

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Gal wondered if the listener had forgotten herself along the way? "You also exist in this universe in the meantime, do you remember that on a daily basis?" The listener said it was a sensitive point for her, "Out of concern I cut myself an almost monastic life. To turn on an air conditioner? Only in very hot moments I allow myself. Even giving up clothes I do not buy. Yesterday was my birthday - nothing, Nada. Also the habit of course from home. "Dad, kind of abusive in this segment, instilled in us fear. At the time it was not turning on a radio, not electricity and all sorts of things. I'm not proud of that trait but it's probably imprinted on me."

Gal argued that despite the assumption that as people get older, the harder it is for them to change things on their own, "I know people of advanced ages who have made far-reaching changes. I am not in favor of far-reaching changes, but to say once a week or a month - 'What thing do I want to give myself? ? ' "What do I want most in the world? To go to the sea at sunset and drink trimmed?" "A little to take you into account. Little things that will give you this refinement - I'm in favor. What do you mind trying?"

Bond-based investment portfolio

Later, Gal offered the listener 2 options: "One, to go very solidly with almost no return. The other, to go to an investment house and create a very solid investment portfolio in its definition, based on government bonds. There needs to be a certain level of confidence that the system will work and not fall apart. More than that - a very basic level of trust, in my opinion it is possible to create trust in it. " He explained that "the economic models of the country are good models. The model on which the Israeli economy is based is a safe model, which has proven itself bravely in the face of major discriminations around the world. The regulation has proven that it knows what it is doing."

He also explained that when the state wants to raise funds, it issues government bonds for which it undertakes to return the money invested within a set time, plus a pre-determined return. "They do not generate huge sums but know how to yield 1.5% per year. If you build such a portfolio, you can also diversify it with a few papers that are supposedly in a slightly more risky model, such as bonds of companies in Israel and around the world." "I want to raise money." She did like the state and said - "I will give a 4% return." I trust companies like Apple, these are very stable companies. If it is not money that is needed in the short term, I find it a good option that will serve your goals. "It does not take you to the gambling districts and will bring you a handsome return of one kind or another."

The listener wondered how she would know which investment house to trust, to which Gal replied: "I will personally make sure to refer you to the one who does it for me, the one I trust the most. I appreciate that you will feel comfortable with him."

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