From the Media

כותבים עלינו בעיתונות

Personal column

My name is Liat Frenkel, 43 years old, married and mother of 3. Deals with international financial planning for the last 22 years.

Bringing you many tips for financial management that can save you a lot of money.

Despite the fact that we are already in June, I would like to dedicate this column to the Independence day which reflects the independence of the state of Israel, the Jewish state, and within each one of us want to feel financial freedom which is defined by reaching financial ownership, and quite spirit and mostly economic welfare.

My target is to show you that the same feeling of independency, we would need to do in our financial life. Let’s make some order:

  1. Reorganize our mortgage/ It is important to check whether the monthly payments suit us as a family? Does the interests rates that we have are according to the current interest rates? Does the mortgage mix really reflect your personal needs? In case you answered negatively to one of these questions, this is the time to consider refinancing of your mortgage and adapting it to the new situation.
  2. Going out of overdraft: whoever lives in overdraft is making a mistake since there is a way of getting out of overdraft. It starts in the understanding that behind every economy sits another emotional economy within each one of us. You are paying so much money for it to the bank, and the biggest problem is that if we won’t deal in the root of the problem, it will never be resolved. It is all a matter of approach, and if I allowed myself to spend more that I earned when I earned, I will behave the same way when I will earn more. This is just the right time to observe how you balance your monthly expenses, how you are looking to the reality at open eyes and start learning how to manage a budget in order to reach financial stability, and avoid returning to the same mouse race that is not really helping you in getting into overdraft and getting out if it through an expensive bank loan.
  3. Start worrying about your pension. I know that you are not really thinking about that, but you’d better be aware of an important thing – your pension is probably the most important thing that you have. You must be aware of what is going on in your pension accounts, you must be aware of how it is managed, and you must be aware that you are at the investment channel most suitable for your needs.
  4. Build up a responsible and clear insurance file. In our world it is hard not be insured. The risk level that exists today under the commitments that we took on ourselves is insane and in case something uncomfortable will happen, you want to be sure that you are covered. My advice is first to know what you are covered for. Make some order and write down clearly what you have, and if you are interested. Enlarge or reduce the current situation. Many people are paying for double insurance, and even worst than that, not covered from situations that might happen.
  5. Rights that you deserve from law basis. Have you checked what are the rules that you can use in order to receive tax returns? Did you know that for donations that are allowed according to tax laws you deserve a return rate of 35% tax refund? Did you know that because of the life insurance that you are paying on the mortgage you deserve to get 25% back from the monthly payment 6 years back?

To conclude, I suggest that in case your family is important for you, and don’t want to donate unnecessary funds, I call to profit from the momentum and initiate to make some order in financial life in a stable manner.

The Weekly Tip

Part of the population is afraid to check if it deserves tax return payments that each person deserve based on the law and according to various criterions. The condition for the return is income tax payments over the years. There are 28 criterions for receiving tax return for employees. Following are some of them:

  • In case you are afraid of addressing the IRS in order to verify whether you are eligible for tax return, it is recommended to address companies which are experts in checking tax return. In such a way you won’t have anu dilemmas whether to address or not.
  • You could get tax return for in continuity at work (sick days, delivery, unemployment, suffer, hard disease and more…)
  • In case you have personal life insurance policy (that is not related to your workplace) you are eligible to receive return from the IRS.
  • In case you are paying independently for 401K program.
  • In case you donate more than 380 NIS yearly to non-profit organizations or recognized institutions.
  • Losses in the stock exchange, securities, savings accounts. You could get a refund in case of a loss.
  • In case a person lives in the suburbs and receives suburbs discounts.
  • In case a person is paying child support he could get credit points.
  • A person who got severance pay should check whether he paid too much tax due to the severance pay.
  • An undergraduate person receives one credit point for the following year, and for a graduate person 0.5 credit point for the following year (one credit point is valued at 209 NIS).
  • A person who served in the military reserve and got salary from the employer. In case payment was received to the personal account from social security, there is a need to check this income in order to avoid tax payments.
  • A person who had heart attack, surgery, brain stroke or hard medical event is eligible to receive refund for the period during which he did not work.

Delivered as a courtesy of Liat Frenkel, CO of the Net Profit Group, a company expert in financial services that includes tax return, finance consulting for employees and self-employed.

Kiryat Ekron  Municipality is getting more efficient

Employees’ union of the local municipality Kiryat Ekron has come to a cooperation agreement with the Net Profit Group – retainer organizations LTD for granting financial benefits to the municipality employees’.

Net Profit Retainer Organization Group’ CEO, Mrs. Liat Frenkel gave a professional brief which explained all the benefits that the municipality employees’ will get from tax return. Home finance, mortgage refinance and more…

The Net Profit Group is the sole company in Israel that created a unique mix for the employee and is acting as a financial consultant of the employee, which is from the awareness and learning of the needs of the employee. The systematic vision of managing household and the daily difficulties in dealing with expenses are the ones that led to this unique solution.

At the conference most of the municipality employees were present and some of them were exposed to such a service. They were surprised to hear that the union suggested and thought of granting the employees’ such a service.

Liat Frenkel, CEO of the group said:

“The willingness to find financial solutions to employees was born from a deep analysis of daily work, and deep knowledge of the needs and the willingness of the employees. The challenges were confronted in front of the difficulties and the major issues that most of the employees are dealing with”.

Adif College: Financial planning to every citizen

Dan Dovri in a conversation with Liat Frenkel, CFP, Chairman of the Audit Committee of the finance planning union.

Liat Frenkel belongs to a new type of professionals that enters the financial – pension sector in recent years.

Frenkel is a business economic mentor for the last 22 years. She was certified 8 years ago as a financial planner and joined he finance – pension world.

Frenkel tells us that when one asks himself with whom shall he consult and plan his life, he shall consult with five professionals , and at the end he finds himself falling between the chairs, in an era of inefficiency and resources waste.

A financial planner, she says is “a person that expertise in taxation, economy, finance, mortgage, and investment and knows to how to create integration between al of them”. However, financial planning is designated not only for welfare people but also for people that don’t know how to make money and needs the training and the escorting”.

As a financial planner she sees her job first of all in recovery of family budget, and from there future financial planning of the family.

She is certain that each person must have a professional person that he can count on and leverage his assets.

During our conversation, Frenkel talks about the project which she developed which integrates a method where each one can use the assistance of a financial planner.

“The project was born following a real need of every citizen that needs financial consultation. I decided that the entire services will be provided under a single roof, at cost which is affordable to every person and that combines in it every aspect related to money whatsoever”, Frenkel explains.

Frenkel details the project’s answer in a couple of aspects within the financial management of the family, efficient management of the family’s investments, affordable risk management, tax return planning, retirement planning, and wealth generation transfer.

The service is provided through the largest organizations in the market to the well being of the employee who needs tax return, overview of insurance and pension funds, tax planning at retirement age, mortgages, family budget and so on.

What is the added value that you are providing to the employees in the market?

“I assist managing negotiations in front of banks and insurance companies, IRS, and in every manner in order to save money for the short, intermediate and long term”

What differentiates your project from other entities?

“There is a common opinion that a financial planner is suitable just for rich and wealthier persons among us, however my approach is that my capabilities are producing something out of nothing. I initiated an approach that enables each person accept financial consultation at a cost of hundreds of NIS. The probability that it will fulfill life targets are very high. With the correct financial planning and forecasting and working plan obe will succeed to produce himself quietness and financial wellbeing”.

Who is your client base?

“Bezeq, Pelephone, Kiryat Ata, and Kiryat Ekron municipalities, and more local municipalities, private entities and more…”

What is your vision?

“To create a situation in which every citizen in the country will have the option of being assisted in building up his financial future in a better way. I will address the government of Israel in order to assist every citizen, through a certain entity, enable him build up plans for self employed or employees. These plans will enable success in well-being with a small sponsorship but will change the economic status to lower and intermediate classes in a great sense”.

What’s your part in it, and what is your working model?

“Firstly, I am coming from net social vision, however beyond that I assume that once my customer will profit, I will profit as well. My point of view is not only local but also globally. In Europe the financial consultation is a profession to every issue. Locally, it is developing. Today I am also serving as the chairwoman of audit committee of the financial planners’ union. I have envisioned that our job will penetrate to each organization and citizen around the country.

  • The writer is a former chairman of the financial planners union: CEO of Elad.

Unions are speaking

ליאת פרנקל, רווח נקי מציגה מהפכה כלכלית ברשויות מקומיות בישראל

ליאת פרנקל מנכל”ית רווח נקי מציגים: כלל השירותים הפיננסים לעובד השכיר

רווח נקי – קריית עקרון

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