Getting back to basics for a secure financial future

As originally appeared in The Jerusalem Post on June 26, 2026.

“If you worry about financial Armageddon, it is indeed metaphorically the time to stock your bunker with guns, ammunition, canned food and gold bars.” –Nouriel Roubini

In this week’s Haftorah we read from the prophet Michah. Often when reviewing the Torah portion of any week with a little work you can find a connection to current events. These chapters from Michah are screaming current events. To the point that it’s scary. In a summary of what we read, Rabbi Aron Tendler writes, “The prophecy in this selection relates to the period prior to the war of Gog and Magog and the coming of Mashiach. The nations of the world will have assembled against Israel, and the Jews will know that their salvation can only come from G-d. G-d’s power will be revealed to everyone and a time of peace and tranquility will envelop humanity. Armies and defenses will no longer be necessary to protect the Jews and the nation’s war machinery will be disassembled.” 

He continues, “Micha was then commanded to chastise his generation for violating G-d’s will, despite all the goodness He had bestowed upon them. In the final verses of the Haftorah, the prophet tells the nation that true atonement can only be attained through change and action. The ceremonious aspects of devotion, such as sacrifice and prayer, will not accomplish forgiveness. Justice, loving kindness, modesty, humility, and active change are the services that G-d desires.”

I don’t want to get preachy, but if you think that “the nations of the world assembled against Israel” has become our reality, there is an explanation of Rashi that that really puts things into perspective. “And it shall come to pass on that day, says the Lord, that I will cut your horses out of your midst, and I will destroy your chariots.( Michah 5:9). Rashi explains, “that I will cut your horses– the Egyptian aid upon which you rely to supply you with horses.” Wow. 

The nation lost its way and the prophet has to remind them what’s truly important. It’s getting back to basics. It’s not rams and oil for sacrifices, rather it’s justice, kindness..etc. which is the secret to national success and salvation. 

From the spiritual to the mundane, when it comes to building wealth too often, we forget the process. Building wealth isn’t about a one-time successful investment, rather it’s about continuously doing the right thing. I realize that I sound like a broken record about “the process”, but it’s always important to reinforce these principals.  If you can’t see that each step leads into the next and into the one after that, then you are not understanding what financial success means. Here are a few tips to get you back on the path to financial security

Budget

Take control over your spending. Track income and expenses and then you can start a realistic savings plan and start building wealth.

Get out of debt

Credit card debt or overdraft is the number one obstacle to making it financially. It’s a lot better to take those interest payments and plow it into savings, than to keep paying the credit card company.

Emergency Fund

You may be fired or your favorite food processor may die. By creating an emergency fund, you will be able to handle surprise expenses. Keep 3-4 months of income in a short-term deposit or something similar in order to have it liquid and available at a moment’s notice in case you need to draw upon it.

Save

There is no shortcut to building wealth. You need to start investing and with discipline, the wonders of compound interest and the growth of the stock and/or real estate market, over time you will create a comfortable nest egg.

Know your limitations

It’s well-known that Warren Buffett, often tells investors that the best advice he can give them is to know their limitations. He means that investors should be aware that their chances of performing better than the major averages are statistically small if they pick individual stocks. As such most investors should stick to index and exchange traded funds (ETFs).

Earlier in the week I spoke to a young leadership group of an organization that works with teens and young adults, about financial management. We discussed these exact rules, and I can’t tell you how relevant these are. Questions were asked before I would get to a certain point and the answers were these exact rules. From not wanting to save, to exotic, get-rich quick investments recommend on TikTok, to taking out loans , I couldn’t believe how relevant these are. While I write about this all the time, it’s so important to review t make sure you stay the course. 

For 99.9% of the population, there are no shortcuts to building wealth. Get back to basics and trust the process, it works.

The information contained in this article reflects the opinion of the author and not necessarily the opinion of Portfolio Resources Group, Inc. or its affiliates.

Aaron Katsman is the author of Retirement GPS: How to Navigate Your Way to A Secure Financial Future with Global Investing (McGraw-Hill), and is a licensed financial professional both in the United States and Israel, and helps people who open investment accounts in the United States. Securities are offered through Portfolio Resources Group, Inc. (www.prginc.net). Member FINRA, SIPC, MSRB, SIFMA, FSI. For more information, call (02) 624-0995 visit www.aaronkatsman.com or email aaron@lighthousecapital.co.il.