Lessons from Tisha B’Av: on reflecting for a better future

As originally appeared in The Jerusalem Post on July 17, 2026.

“When the past no longer illuminates the future, the spirit walks in darkness.” -Alexis de Tocqueville

Thankfully, the Jewish calendar is full of days that are great for personal reflection. Not to make anyone nervous but the High Holidays are less than 2 months away. This coming week we have one of those days of reflection, the Ninth of Av. Jews around the world gather in dimly lit synagogues, sit on the floor like mourners, remove the comforts of everyday life, and read Megillat Eichah (Lamentations). It is one of the most emotionally powerful nights on the Jewish calendar. We recall the destruction of both the First and Second Temples, along with countless other tragedies that have befallen the Jewish people throughout history.

At first glance, Tisha B’Av appears to be a day focused entirely on the past. But Judaism has never encouraged us to remember simply for the sake of remembering. We do not mourn because we are trapped in history. We mourn because history is our greatest teacher. The prophet Yirmiyahu’s haunting words in Megillat Eichah are not merely a record of national catastrophe. They are an invitation to honest self-examination. Our Rabbis explain that the First Temple was destroyed because of idolatry, immorality, and bloodshed, while the Second Temple fell because of sinat chinam—baseless hatred among Jews. The message is profound: destruction rarely happens overnight. It is usually the result of small failures, ignored warning signs, and the gradual erosion of values.

In what’s very complex piece, if I were to summarize simply what the Maharal of Prague writes in Netzach Yisrael, Chapter 26, is that destruction often precedes a greater level of rebuilding. Just as the creation of the world emerged from chaos, so too periods of loss prepare the ground for something more complete. The First and Second Temples were not meaningless failures; they were stages in a process leading toward a more enduring redemption. The Maharal teaches that history is not circular—it is progressive. Every setback contains the potential for growth if we are willing to learn from it. Sometimes you need to destroy in order to build.

In Out of the Whirlwind, Rav Joseph B. Soloveitchik described Judaism’s unique understanding of history as “unitive time consciousness.” The past is never merely archived; it lives within the present. On Tisha B’Av we do not simply recall the destruction of Jerusalem—we experience it anew so that its lessons can influence our choices today.

While these are heavy topics, these same perspectives can apply and should resonate with every investor. Financial setbacks are inevitable. Markets decline. Investments disappoint. Businesses fail. Plans change. The question is not whether we will experience setbacks, but whether we will allow those setbacks to become permanent defeats. Like the Maharal’s understanding of Jewish history, financial success is rarely a straight line. Temporary losses, if they lead to wiser decisions and greater discipline, often become the foundation for long-term prosperity. Financial disasters rarely happen overnight. People rarely wake up one morning drowning in debt or discovering they cannot retire. Instead, trouble usually begins with a series of seemingly insignificant decisions: spending just a little too much, delaying retirement savings for “next year,” ignoring estate planning, refusing to review an investment portfolio, or believing that somehow everything will work itself out.

The destruction of Jerusalem also didn’t occur in a single day. It was the culmination of years of poor decisions, missed opportunities, internal division, and moral decline. Tisha B’Av reminds us that every major crisis has a history.

The investor who waits until retirement to ask whether they have enough savings has waited far too long. The family that discusses inheritance only after a parent passes away has delayed an essential conversation. The business owner who ignores succession planning until illness forces the issue has surrendered control over the future.

Looking back allows us to identify the warning signs before they become irreversible.

Reviewing our past is not an exercise in guilt or regret. It is an opportunity to ask difficult but necessary questions. Have we learned from our mistakes? Have we become more disciplined investors? Are our financial decisions driven by purpose or emotion? Have we strengthened our family’s financial future, or simply hoped everything would somehow work out?

Just as the destruction of the Temple resulted from years of accumulated choices, financial security is rarely created through one brilliant investment. It is built through thousands of consistent, thoughtful decisions made over decades. Staying out of debt. Sticking to a budget based on your income. Saving and investing regularly. In a nutshell it’s sticking to our grandparents’ sound and commonsensical financial ideology. If you can’t afford something; don’t buy it.

This year let’s use Tisha B’av not only to reflect on the past but how to learn from those mistakes to create a better future. I would say it’s imperative because in certain respects you get the feeling that history is repeating itself. Let’s also use the day as a springboard to get back on track financially so that we can all build a secure financial future.

May Jerusalem be rebuilt speedily in our days.

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.