Retirement should be approached with careful planning.

It is well established that life expectancy is increasing significantly.

This is a positive development, especially when one gets to fully enjoy their added years, in good health.

It becomes truly optimal – and essential – when proper and informed financial planning is carried out in order to fully realize the rights and benefits accrued from the savings accumulated over the years across various retirement vehicles: Pension Funds, Insurance Policies, Provident Funds, Study Funds, and similar instruments.

Proper management of financial resources, combined with professional guidance, helps ensure that retirees maintain a standard of living aligned with their personal needs, lifestyle, and financial objectives.

Have you reached retirement age? Let's begin with the fundamentals:

• Under Israeli law, the statutory retirement age is 62 for women and 67 for men.
• Age 60 is generally considered the minimum eligibility age for retirement benefits, meaning it is possible, in certain cases, to retire at this age and apply for pension benefits from the relevant funds.
• Age 67 is the mandatory retirement age, at which point an employer may require retirement in accordance with applicable labor regulations.

This is the time to prepare and plan.

At any age, retirement marks a new phase of life involving a significant transition – from active employment to a new lifestyle focused on personal time and freedom. Such a transition often involves psychological and financial considerations, including questions about the future: how to manage the household budget, what the expected financial needs will be, what level of net pension income will be required, and how to ensure long-term financial stability.

Asking these questions is both natural and necessary. This stage of life is an opportunity to reorganize priorities, build a fulfilling daily routine, and incorporate diverse interests such as hobbies, family time, travel, cultural activities, and personal development.

If you wish to fully enjoy the opportunities that retirement offers, a key prerequisite is advance financial planning. Proper planning of household cash flow and long-term expenses helps ensure that your financial resources support your lifestyle – rather than the opposite – and promotes both financial security and peace of mind.

This process is known as retirement planning, and it is a comprehensive professional service that includes:

• Defining personal goals and setting clear priorities.
• Constructing an optimal allocation between pension and financial assets.
• Establishing a sustainable and well-structured retirement income stream for the years ahead.

At Oren Mizrach, you benefit from experienced and professional advisors who specialize in retirement planning and in building a well-structured, informed, and personalized financial plan for your next stage of life.