Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking. Treat it as a searchable index of what was broadcast, not a quotation record.
00:03:51Money, what a strange thing. Israelis have a lot of
00:03:54emotions towards money, but on the other hand, what do we really
00:03:58know about it? What do we know about our bank, about the insurance company,
00:04:02about the pension fund? We invest our money,
00:04:04right?
00:04:07It doesn't matter if you're young or old, from the center or
00:04:10from the periphery? We all have
00:04:13a thing with money. So we gathered all these Israelis in one
00:04:16room. Together, they will be our finance committee. Together
00:04:20with them, we'll understand where our money is and how to take
00:04:23responsibility for it, so we don't have to freeze it under
00:04:26the tile.
00:04:38What makes between 400 and 500 people leave
00:04:40their homes at 8:30 in the middle of the week to hear a lecture on
00:04:44investments? Everyone I talk to knows
00:04:47about it, understands, starts investing at one age or another. Now, at the point
00:04:51in time we are in, many people feel like they are missing
00:04:54something. My expectations here are that I will learn
00:04:57to appreciate the acrobatics for 10 years. At what age did you start investing
00:05:01roughly? A year ago. I'm already
00:05:0351. Why did you come? I also saw
00:05:07it on Facebook and with friends who invest in individual stocks.
00:05:10I started investing with them. At the age of
00:05:1322. Do you feel like me that some
00:05:17revolution is happening? Like everyone is there, do you feel it?
00:05:20Yes, father and son, I assume. Who among you knows more about
00:05:24investments at this stage? Generally. My
00:05:27friend, he kind of got into the field, so you could say,
00:05:30"beware of girls." At what age did you start investing?
00:05:34Around the army. They usually ask
00:05:36me if it's a trend? In my opinion, it's simply, like
00:05:40in the market, it's a correction, it's simply a correction. Of the distortion.
00:05:43I have a second degree in economics. I started investing, from around age
00:05:4745 plus. Significantly improved, because the younger
00:05:51generation is
00:05:52on top of things.
00:05:55Today I feel that people on the street, really
00:05:58simple people in very ordinary
00:06:01professions, come and say, "How wonderful, I opened an investment account." We are now
00:06:04at the stage of everyone saying, "Why didn't you start
00:06:08today?"
00:06:12Without us realizing it, we are in the midst of a revolution, a cultural
00:06:16and awareness revolution, a capital market
00:06:19revolution. A decade ago, it was almost impossible
00:06:22to fill a hall with people who wanted to hear about the stock market. The capital
00:06:26market was a phrase that caused people in Israel anxiety
00:06:30or disgust. To get rich, people relied on education
00:06:33and hard work. Today,
00:06:36the capital market has become the talk of society, the way to make
00:06:40money. Whether you are in your 20s or 50
00:06:43plus, everyone wants to take part. How did this happen?
00:06:47How did we go from a generation that avoided the stock market like the plague
00:06:50to people here debating whether to choose Nvidia
00:06:54stock, Apple or Google? This is what this revolution looks
00:06:57like, and this is how you too can be part of it.
00:07:14Hello to the members of the Finance Committee, thank you very much for coming. I made my
00:07:17first investment, investment, who heard? The first money
00:07:21I lost was at the age of
00:07:2324. I was a student and I had a friend
00:07:27and he said there's a stock and you buy it and that's it. I
00:07:31would love to hear a bit from you. I'm
00:07:3346 years old, I invested two weeks ago,
00:07:35so it happened that at my annual meeting
00:07:39with my accountant he scolded me that I have to...
00:07:50Age 18, good to know. With how much
00:07:53money? A few hundred. Eldar, at what age did you start
00:07:57investing? At age 41, I got divorced,
00:08:00learned about money, and then I started investing, because before
00:08:04that it didn't speak to me, it's not something that... In my house,
00:08:07the stock market was considered a casino, like playing
00:08:10with money, something like that. I, how can I
00:08:14simply say? I come from a home of Holocaust survivors, so the attitudes
00:08:18towards the stock market were very very negative. Like what?
00:08:21Lazy investors. The dream was
00:08:25stability, workers receiving
00:08:27a salary. In our house, they didn't talk about the stock market, but the only talk
00:08:31there was was the trauma they carried from
00:08:33when the stock market crashed, when Messiah jumped from the roof, they lost
00:08:37the value of video. And as a child, I remember it seemed
00:08:41traumatic to me. And probably something of that stayed
00:08:44with you.
00:08:48Almost every cultural revolution is a reaction to the trauma of the previous
00:08:52generation. This trauma is the banking stock crisis
00:08:55in '83. The stock market crashed, people lost
00:08:58everything. Shalom Hanoch wrote that the public is stupid and therefore the public
00:09:01pays. Shalom Zvi, how are you? Hello. And a scar remained. How many
00:09:05years have you been in the stock market? Not as a writer. I started
00:09:08the stock market at the age of maybe 15, 16.
00:09:12Here it happened, here were the guys with the "sell, buy."
00:09:16Here was a center of great noise. There were several
00:09:19halls here. 27, a nickname that was given
00:09:23to the stock market in those days, was simply a casino. Like, if you wanted
00:09:27to know which stock would go up or down, you had to physically walk around here in the hallways and hear
00:09:30that you had a good connection with the messenger who came with the order books for
00:09:34purchases and sales, and you could get advanced information from him
00:09:37about what was going to happen. This was
00:09:40and within this, the banking stock crisis, which is also a kind of Sodom and Gomorrah.
00:09:44The banks bought their own shares, they took the
00:09:47savers' money, for example, right, for their
00:09:51own needs. The bank manager told me, "We will give you credit only if you buy
00:09:55shares of our bank." So I had no choice and today I
00:09:59am a shareholder of that bank. You asked for a loan from the bank, you asked for
00:10:02a million, the bank came and told you, "You know what, I'll give you two million, a million
00:10:06two, buy bank stocks."
00:10:09Now, how did the bubble burst? All
00:10:12sorts of news in the newspapers, and then a flood of sellers were
00:10:16there. What does that mean? They gave sell orders? Sell orders, right,
00:10:19who? The public. 422. There was
00:10:23a great risk of a collapse.
00:10:55It's still a casino today, it's not safe, it goes up and down, real estate, that's
00:10:58what she thinks, it's not solid, it's on the ground.
00:11:02This is from that crisis from the early
00:11:0580s, yes, unequivocally, there are many
00:11:08people who said, "I swear I won't go back to the stock market."
00:11:12And that's how it
00:11:12was.
00:11:21Over the years, and I think it's really true about older people, people...
00:11:26And another very interesting
00:11:27phenomenon that happened
00:11:30from this was real estate, right? Because real estate, by the way, right,
00:11:34real estate is perceived by us as something not dangerous. I see the asset, I see the house, it's here,
00:11:38it's with me. It's not like stocks that I have no idea where they are and what they
00:11:42are and what their form is. But real estate is no less dangerous
00:11:45than the stock market, and therefore it's a psychological bias of what
00:11:48we perceive as dangerous in these financial worlds and what we perceive as
00:11:52safe. Now, the stock market, the element inherent in it is
00:11:55risk. In life, in daily life, it's
00:11:58the possibility that something bad will happen to us. In the stock market,
00:12:01risk is not a negative aspect. The higher
00:12:04the risk level of an investment we make, the higher
00:12:08the return we can expect over time.
00:12:11Therefore, if we invest for the long term, risk in the
00:12:15stock market is actually a good thing.
00:12:19Since that crisis, many things have changed. First and foremost,
00:12:22the stock exchange itself is more regulated, more institutionalized,
00:12:26more sophisticated. Its total value is almost two trillion
00:12:29shekels. All our savings for retirement are invested in it,
00:12:33and without it, the economy would not
00:12:35grow.
00:12:39The stock market is no longer a closed club; it's a place where you build
00:12:43a future. It's accessible to almost everyone, and those who understood
00:12:46this are the young people. How many young people?
00:12:49Very. Meet Tamar. She's living proof
00:12:53of the revolution taking place. What are you doing to her? I'm
00:12:57cutting her cuticle. I also need my cuticle
00:13:00cut.
00:13:01Thank you. Cuticle. 100%.
00:13:05How
00:13:10old are you? 13 and a half. How
00:13:13did you start? My parents bought me as a birthday gift the basic things needed
00:13:17for gel nail polish and I started doing it. I earned 7,000
00:13:20NIS a year. Amazing. And what do you do with the money?
00:13:23Most of the money I invest in the stock market in SNP.
00:13:27Most of the money you invest in the stock market? Yes. Why?
00:13:30Because if I don't invest, my money will slowly
00:13:34erode due to inflation.
00:13:37And I want it to grow and, like,
00:13:40multiply.
00:13:43Tamar is not alone. Hello. Meet
00:13:46Hagai. I have no
00:13:49chance. What?
00:13:52Yes.
00:14:01Tell me, when did you start with money? I was a relatively small child, seven, eight,
00:14:04something like that. My grandfather
00:14:08passed away, and I received an inheritance of 5,000
00:14:12shekels, plus there was always pocket money
00:14:16before holidays, birthdays. So a sum accumulated
00:14:19for you. A sum of about 10,000 shekels, something nice. So
00:14:23I invested in the S&P 500.
00:14:26And how much money do you have now? You know, 20 thousand shekels. What are you
00:14:29saying? But I already changed it from what I had,
00:14:3380% S&P 500, 20%
00:14:36bonds. I changed it
00:14:39to Nasdaq, which was, which is very
00:14:42cool because I love technology. Here are some basic terms in the stock
00:14:46market that even children can understand. What is Nasdaq?
00:14:50Nasdaq is the leading
00:14:52technology companies in the world.
00:14:56Can you explain to me what a stock is?
00:14:59So this is one company's
00:15:01stock.
00:15:03And I'm selling it to you for 10 shekels. Now you
00:15:07don't like this taste? No. So you want to sell? Yes.
00:15:11But you also want to profit from it. Yes. So say how much
00:15:14do you want to sell it for? 20? For 20? So you sold it
00:15:17to someone for 20 shekels. But he also doesn't like the taste of it, so he wants to sell, but he also
00:15:21wants. He also wants to profit. So he sells it for 60 shekels
00:15:25to someone else, but that someone else doesn't want it for 60 shekels because it's
00:15:29very expensive for him and he doesn't have that money, so he lowers the
00:15:32price to 40 shekels, but he still doesn't
00:15:35want it, so he says, "Okay, it's not working for me."
00:15:39And then the value of the stock really
00:15:43went down. We don't want to buy
00:15:46a stock from one company. So we want
00:15:49a fund of many, many, many shares
00:15:53from the 500 largest companies in the United States. And that's
00:15:57the S&P 500. Yes.
00:16:00Yes. And one day these companies can be.
00:16:03And one day these can be companies. These
00:16:09companies for example, because every time 500 different
00:16:13companies. Right. Do you already know how much money has accumulated in your investment account? In my investment
00:16:17account I have 27 thousand. Wow, like to what
00:16:20amount would you want it to reach?
00:16:23It will reach millions in the end because I'm really in it for the long term. What's
00:16:27long term? At the age of, I don't know, 20 something, 30. So I have
00:16:31a few
00:16:31years.
00:16:36Why didn't he take it?
00:16:41The money issue, and suddenly money is no longer, it becomes what
00:16:45can make more money from it without doing anything and not just working
00:16:49and digging in the dirt. Yes, what is the goal?
00:16:52The goal is basically very simple: to be richer.
00:16:55Richer? Yes, richer than me, for example? Ah, yes, very
00:16:59cool. Very cool. Tamar and Hagai are not just
00:17:03anecdotes, the data also shows that the younger generation
00:17:06easily does what the generation before them did not dare
00:17:09to do. 44% of investors who manage their own
00:17:13investment portfolios are between 22 and 30 years old.
00:17:17In contrast, only 4% of those aged
00:17:2050 and over manage their own investments. The average age of
00:17:24independent investors is 29. In contrast,
00:17:27the average age of investors who prefer someone else to manage their
00:17:30money is 34. The younger they
00:17:33are, the more they take their future into their
00:17:35own hands.
00:17:38When did you feel you had to get in? When I saw that friends were starting
00:17:42to invest and talking to their parents about investments. At first, I would
00:17:45buy fractional shares of some stock I thought could
00:17:49succeed, putting in a few hundred
00:17:51shekels. And then I moved to what everyone is talking
00:17:55about today, the S&P 500. This was a bit before everyone started.
00:17:59I feel now that there's a bit of inflation in the use of the word
00:18:02S&P 500, like if I haven't taken many taxis, but when I
00:18:05take a taxi, the taxi driver tells me.
00:18:09My grandmother tells me to read this book and invest
00:18:12in S&P. That same grandmother told my mother something else. My mother
00:18:16also upgraded. My mother at a certain
00:18:20stage, yes, entered the world of
00:18:22investments. Two computer screens
00:18:25and courses and stuff. How old
00:18:28is your mother? My mother is 72. It's a TikTok
00:18:31account, ah, and listen, she's a star, she doesn't know it yet, but
00:18:35yes, you can see she's influential, she's registered. working in these fields, I do feel
00:18:39that it has now become, like, we are already at the next stage where it has become a bit of
00:18:42a trend.
00:18:49I see that many more are entering the capital market and it also seems
00:18:53to me, when I look from the outside, it seems contagious. Like there's one person
00:18:56who's a zero beginner and he tells his friend, "You won't believe it, I bought
00:19:00Nvidia and Apple at 100%." He shows him and then the other one says,
00:19:04"Oh, if this idiot can do it, so can I."
00:19:08To what extent is there really something contagious here? So unequivocally, these
00:19:10phenomena are contagious and they also have
00:19:13a name in the world of behavioral economics, and that's
00:19:17herd behavior. And we really see that in the stock market we
00:19:20behave like a herd, and there are fashions that influence. We
00:19:24have this all the time now. That is, young people who announce one
00:19:27stock and everyone follows them. These
00:19:31phenomena of herd behavior are very, very, very dangerous because
00:19:34what they do is they distance
00:19:38the price in the stock market from the true value of the stock. Social
00:19:41networks greatly amplify this issue
00:19:45because it's very easy for me to spread
00:19:48some information or to spread some tendency of mine towards a stock. And what
00:19:52they also don't understand is that behind everyone who spreads information on social media
00:19:56about these stocks or assets, there is a person with a vested interest. Exactly.
00:20:00It could be another interest. It could be that he himself invested heavily in that stock from an early
00:20:03stage and he wants it to go up. Or exactly in his favor. Exactly, and they influence him.
00:20:07What will happen to my
00:20:08money?
00:20:12The internet is full of people who promise us riches
00:20:15and happiness, if only we buy the stock they recommend.
00:20:18Or, what's more common, if only we pay
00:20:22them thousands of shekels for a course where we'll learn the
00:20:25secret. How to buy and sell to make a quick
00:20:29buck. Most of those who fall for these offers
00:20:32will lose. Because the stock market revolution is
00:20:36indeed here, but it requires patience. Those who seek
00:20:39to get rich from short-term day trading will find that it's
00:20:43much harder than it seems.
00:20:46In Ashdod, I met one of the few who succeed.
00:20:50Yoni Levy. Hello. He turned day
00:20:53trading into a profession. I want to tell you that you are fulfilling my dream. He gave us
00:20:57a rare glimpse into how it really works. Whoa.
00:21:011 2 3 4 5 6 7 13 14 screens. Oh,
00:21:04and you also have the clock of this. Yes. Do you sit here all day? I sit
00:21:08here from morning until 5:30. Not
00:21:11getting up, not moving. Almost not getting up. Pee.
00:21:15Getting up, of course. Did it happen that you lost money in a pee break?
00:21:18And you said.
00:21:23Sell or buy? Buy, now buy.
00:21:26Put me in the area code of the monthly target?
00:21:29100 thousand shekels. Profit, profit. You
00:21:33need to tell someone, what is your job? I tell him I'm a broker,
00:21:37because that's what people know, even though it's not true. What are you actually? I'm
00:21:40a trader, a stock market trader. What does that mean? It means that I
00:21:44deal with money that is only mine. They open almost unlimited
00:21:47credit lines for you. And you start
00:21:51trading. Like, if I take my money and put it in an index
00:21:54and forget about it, right, hoping it will give me 10% a year and say
00:21:58thank you. You want to make over 30%
00:22:02a year, you want to be better than the market, and you succeed?
00:22:05Yes. The orders you transmit, buy, sell, are
00:22:09in the range of daily tens of millions
00:22:13of shekels. 10 million shekels a day? Yes. And it doesn't scare you?
00:22:16No, I really love it. It's adrenaline.
00:22:20Crazy for me. Did it happen that in one day of
00:22:23trading you made a crazy profit?
00:22:27Yes, six figures and... Very
00:22:30nice numbers. Hundreds of thousands in a day? Yes.
00:22:33Were there days you lost huge sums of money?
00:22:36Yes. During Corona in March
00:22:392020, there was one day that was very unpleasant,
00:22:42you can't stop the water. How much did you lose there? 100 thousand
00:22:46shekels in a day? In a day.
00:22:50People are watching now, among others, teenagers, who are intrigued by this
00:22:53world of trading, of making money
00:22:56from money. What would you say to them? I would tell them
00:23:00unequivocally not to enter the field of day trading. I will not put my children
00:23:03into day trading. Why? Because the work is
00:23:07Sisyphean, exhausting, and you need to have a very, very
00:23:10special character. A day of crazy profit or a day of crazy loss
00:23:14can change a person's thinking and
00:23:17behavior, and you need to have character.
00:23:24About three or four years ago, some owner of some college
00:23:27that teaches people to do prop
00:23:30trading and then employs them invited me.
00:23:33And he told me that there are thousands of young guys
00:23:37who are discharged from the army and get into this every year. I don't know anyone
00:23:40who was in professional trading and went and opened a college
00:23:43to teach. Like, whoever makes money just continues to make money. Unequivocally,
00:23:47don't fall for the stories they tell you about easy money. There's no
00:23:51easy money in trading, there's no such thing. Over 95% of people
00:23:55will lose their money. There's no way to get rich quickly,
00:23:58not in trading. So what do you need to do for it to happen and not
00:24:02for me to lose my shirt? I think you need to go through the whole process. That is,
00:24:06get a degree in economics, a degree in business administration, understand the stock market
00:24:09in depth, get to know the institutional bodies, get to know the investment
00:24:12houses, the big banks. Like, you actually need to go
00:24:16and work in it. There are no shortcuts even there, there are no shortcuts.
00:24:22You're open now with big positions, like if something happens now, Trump
00:24:25says the wrong word, you could lose a lot of money. Yes, I feel very
00:24:29uncomfortable with
00:24:29that.
00:24:34Did anyone here invest in a stock and lose? I even know
00:24:38about one thing I invested in, something they told me was fine,
00:24:41I said, "Alright." How much did you lose? I lost
00:24:4518,000. In a few days?
00:24:49A few days? How did it feel? It was
00:24:53very unsettling, because I'm used to logging in every day,
00:24:56sometimes even twice. And suddenly, at one moment,
00:25:00there was a certain number, and at another moment, I had a completely different number.
00:25:04I cried, yes, yes, it was really a loss. I mean, I said, "Oh
00:25:08my, what's the point of this now?" All that, what did I
00:25:11do with it? But I got over it. Liron, did you try to imagine
00:25:15how you would feel if the stock market fell by 20%? Yes, I suppose
00:25:19I'd sleep a bit less well, but I wouldn't not sleep
00:25:22at all.
00:25:27One of the things that allowed the revolution to happen is that since it started,
00:25:30the stock market has mainly gone up. And when it goes up, everyone is an investment
00:25:33guru. When the stock market goes down
00:25:36sharply, then you can find out who truly has enough
00:25:39risk tolerance to stay in for the long
00:25:42term. My friends and I in our WhatsApp group where we
00:25:46share emotions, ah.
00:25:50Every time the stock market starts to fall, but really, really fall, then
00:25:54someone asks, "Why is the stock market falling so much?" And then the
00:25:57answers start: "It's because of this and Trump and tariffs
00:26:00and that." And every time I have a feeling
00:26:03that it's just like astrology or reading in, I don't know, a coffee
00:26:06cup or something? Am I right? First
00:26:09of all, you are right, okay? There is
00:26:13in the end, even though we are talking about numbers and financial
00:26:16reports and a very, very logical world, in the end we
00:26:19see that in such situations what interests us is actually
00:26:23psychology. The best example of this is the Corona, this is
00:26:26the graph of the S&P 500 over 25 years. We would
00:26:30expect Corona, which is perceived as one of the biggest
00:26:33disasters in humanity in recent times, to appear here as something
00:26:37very, very dramatic, right? And in the end, what we see here is a small peak
00:26:40in the graph, let's not minimize it, this thing is a 30%
00:26:44drop in one month, it was terrible, and my mother also just retired
00:26:48here, she ate my head, it really was a panic
00:26:51effect, there was a herd effect and everyone sold,
00:26:54but what did we actually see? Within a few months
00:26:58the index went back up, and not only did it go
00:27:02back up. Within 18 months it doubled itself, at this
00:27:05point in time, we didn't see that, okay, we only saw
00:27:09this thing, now in your head, your imagination
00:27:12continues it here, you tell yourself, "No, it's going to be at 80%,
00:27:16why shouldn't I cut my losses here?" What's irrational about that? I mean, I don't have
00:27:20that, how do I fight it? I think
00:27:23that anyone who knew about the 2008 crisis could
00:27:27already know that at that moment things would look different,
00:27:30because banks also collapsed then. And there was a very, very
00:27:34great distrust in the government in very, very basic institutions, and exactly
00:27:38from there the market recovered and eventually reached where it is. So, in other words,
00:27:42this understanding of the long term and the perspective of looking
00:27:45at the graph like this, that's what should ultimately give you confidence,
00:27:48and the world and the stock market have survived wars,
00:27:52survived pandemics, survived terrible crises,
00:27:56but that point where you got out
00:27:59and lost all your money remains forever.
00:28:03So the most important things when entering the stock market are patience and the ability
00:28:07to absorb. What else? Suppose I want to enter the stock market? Give
00:28:11me the rules, the guide, what do I need to know? You want to enter the stock market? Now
00:28:15the question you need to ask yourself is when will I
00:28:17need the money? Because the stock market can crash. Right. If you need the
00:28:21money for the long term, a minimum of five years, you
00:28:24can start investing in the stock market. You essentially want
00:28:27to diversify your risk, not to invest in a single
00:28:31stock and not to put all your eggs in one basket, but to diversify into several
00:28:34types of stocks,
00:28:37countries. You essentially want to create a portfolio that is
00:28:40diverse and broad in terms of investment. I can enter with any
00:28:44amount. There are also investment platforms today that don't require
00:28:47a minimum, and you can start investing with even hundreds
00:28:50of shekels. I enter the stock market and I enter with
00:28:54500 NIS fixed deposit every month. Describe to me what
00:28:58happens to the money? So we deposited 500 NIS a month, we are talking about
00:29:02a return of about 10% a year, which is about the S&P
00:29:05500 index, the 500 largest companies in the United States. After one year,
00:29:09we have 6600 Shekels. 6,000 Shekels
00:29:12that we deposited, and an additional 600 Shekels that we earned interest on.
00:29:16After 10 years, I will have 95
00:29:18Shekels, after 20 years, I will already have
00:29:22350, at which point most of the money
00:29:25in the fund will be profit, it's not deposits that I made. Right.
00:29:29Most of the money in the fund is not the principal, the amount I put in, but rather...
00:29:32my returns that have accumulated more returns, which is called compound interest,
00:29:35and after 35 years, I will already have
00:29:392.5 million Shekels. An amazing psychological
00:29:42event. All of this assumes that the returns and the market and everything
00:29:46and everything
00:29:47is good.
00:29:51To make you and me envious, we found someone who understood
00:29:54the trick a long time ago. He started investing at a young age, planned well,
00:29:58diversified his investments, and retired early. So how old are you today?
00:30:07You retired. I retired completely.
00:30:10You worked. I worked for several years.
00:30:1314 years in the job market in various places. That's
00:30:17less than me. Okay, how do you do it?
00:30:20I want to know too, teach me. So I think I'm a good example,
00:30:24maybe you can hear it in the accent that people
00:30:27who immigrated from the Soviet Union, my parents
00:30:30were very dear. But not very dear in money. It was clear
00:30:34to me that from the moment I started earning a salary, I would start investing
00:30:38it. I would first save it, and at the first opportunity
00:30:41I would invest. I started working in
00:30:442010. I saved 5,000 every month. I was
00:30:48earning 11, and then with those two years of salaries, which was
00:30:52about 120, I went and bought an apartment for half a million
00:30:55in Lod, and that was my foothold in investments. I started investing
00:30:59in the stock market in a relatively simple and diversified way.
00:31:02In ETFs. But at this stage, you're saving 50% of your income,
00:31:06something like that? Uh, and even more. So yes,
00:31:09very, very aggressive saving, and a lack of improvement in standard of
00:31:13living. You're always striving to increase your income, of course, but all
00:31:17that extra money, you put it into your investment portfolio, until in
00:31:202019, I started to understand that you can now, as they say,
00:31:24buy your freedom. In the end, it's a product. Just like you go and buy
00:31:27an apartment, you buy a car, you can
00:31:30buy freedom. There's an amount that you can put on it. You take your
00:31:34standard of living, meaning how much you spend, how much you spend per month, multiply
00:31:38it by 300, and that's roughly the amount you need
00:31:41to reach, and then you're free. So I did my basic calculation.
00:31:44So we spent around 20,000 a month, multiplied
00:31:48by 3, 6 million. 6 million. I saw, okay,
00:31:52it's not impossible. I was already at that point at around 4 million,
00:31:55need another two million. And I saw that I wasn't very far.
00:31:59And this realization that hit me that now I'm going to push harder
00:32:03and now I'm out, it actually changed my life.
00:32:06And still, for that, you need very aggressive saving of
00:32:0910, 15 shekels a month. What do you feel you gave
00:32:13up? You need to make sacrifices. I would probably travel abroad
00:32:16more. Imagine a family driving
00:32:19a Hyundai
00:32:21i10. It's small, that car is small, it's small. The baby seat doesn't
00:32:23fit. To replace a couch, you stretch
00:32:27things out longer. Okay. It happens
00:32:31that the stock market falls, and when it falls, sometimes it's aggressive, 10%
00:32:3420%. We've even seen 30% in recent years in a month. What then?
00:32:38So that's one of the main psychological difficulties in this whole
00:32:42early retirement struggle right now. How
00:32:45did I actually do it to make it less difficult? I divided my portfolio, as
00:32:48they say, into layers of risk,
00:32:52okay? I said that now in the first few years, I created
00:32:56a very, very solid portfolio. Now, simultaneously, the other portfolios
00:32:59I hold are 100% stocks, and I know that by the time I get
00:33:03to them, no matter how many crises shake them,
00:33:06statistically, they will probably really grow. So if you're in your early
00:33:1040s, this is money for your 60s, for your 60s. I have to know
00:33:14the millions that...
00:33:28Who here feels they love their bank? To hate it is a difficult emotion.
00:33:32They just take your money. There's no reason. It can
00:33:35be zero. Not three shekels, not nine shekels,
00:33:38zero shekels for a checking account. If it doesn't go
00:33:42my way, it's the highway. Okay.
00:36:00and says, "It suits me to work for 20 years and then retire." What should they
00:36:04do? There are three things. Go ahead. The first is to take a risk
00:36:07and as early as possible. That's the first thing, to take a risk and die. That's to invest and take
00:36:11a real risk. And take a risk.
00:36:14Two. That's to say how much I really need. That's the absolute basic
00:36:17in my opinion. I save every shekel beyond that. You put
00:36:21it into the investment portfolio. Okay, so that's two. That's two. What's three? Three is to know what
00:36:25you're going to do the day after. And I think many people don't
00:36:29leave because they're afraid. They're simply afraid of this encounter
00:38:19question is valid for you, stay
00:38:21standing. Who, in addition to a bank account,
00:38:25has a savings plan, not including savings for every child?
00:38:28For whom is this saving in an investment channel that generates returns? What do you have?
00:38:32A deposit? Yes, so sit down. Whose money
00:38:36is spread across several investment channels? Also sit down. What is important for me
00:38:40is for you to understand that there is no reason why
00:38:44all of you shouldn't have a lot of money when you are older. A small
00:38:47thing you do at age 18, 19, 20 changes
00:38:51your life completely at age 30, 40,
00:38:5450. Did you come from a wealthy family? No.