The 4 Stages of Wealth

Categories Financial Independence, Investing

During your financial life, you will go through several stages of wealth. Maybe you have already crossed several of them, or maybe you are at the first stage of wealth.

Regardless of where you are, it is important to know what is ahead and prepare for your future stages of wealth. There are many things you can do to prepare your future financial stages.

In this article, I will talk about the 4 main stages of wealth and what you can do to live better through all of them.

Continue reading “The 4 Stages of Wealth”

7 Things To do in Lockdown To Improve Your Finances

Categories Frugality, Financial Independence

The second wave is now well established in Europe. Several countries are back in lockdown. And several states of Switzerland are now in lockdown as well. Some states are only in semi-lockdown, but new measures are taken daily. I would not be surprised if we went into a nation-wide lockdown very soon.

In this context, many people have less to do than usual. So, why not dedicate some of this extra time to improve your finances?

In this article, I want to talk about 7 things you can do in lockdown to improve your personal finances.

Continue reading “7 Things To do in Lockdown To Improve Your Finances”

12 Tips to Protect Your Online Personal Finances in 2020

Categories Financial Independence

These days, most of your personal finances are probably online. You probably have access to your bank through an online banking platform. Also, you are likely to access your broker through your browser or your phone. If someone is getting access to your online personal finances, he can do a lot of harm! You need to protect yourself!

Continue reading “12 Tips to Protect Your Online Personal Finances in 2020”

How Much Will You Spend in Retirement?

Categories Retirement, Financial Independence, Travel

If you want to reach Financial Independence and be able to retire, you need to know how much you are going to spend while retired. If you are retiring next year, it is straightforward to know how much you are going to spend. However, if you are going to retire in a long time, it is not trivial to estimate how much you will spend in retirement.

I have already talked about the different ways tor each Financial Independence (FI). Regardless of which way you choose to reach FI, you will need an accurate estimation of your retirement expenses. Without this, you will not be able to know how much of the road remains.

Continue reading “How Much Will You Spend in Retirement?”

7 Powerful Reasons to Become Financially Independent

Categories Financial Independence, Frugality

You have probably heard a lot about Financial Independence. A lot of things on this blog are about my path to Financial Independence (FI). But why would you want to be financially independent? There are many reasons for wanting to be financially independent. And as you will see, retiring may not be the most significant reason.

In this post, I am going to list the main reasons people want to be Financially Independent. Of course, the reasons may not be the same for everybody. Some reasons will appeal to you more than others. It is fine. Not everybody has the same motivations in trying to reach FI. And not even everybody wants to reach FI!

You may have some reasons to reach FI that I did not even think about! Please let me know in the comments if that is the case! I would like to know why you want to be Financially Independent.

Continue reading “7 Powerful Reasons to Become Financially Independent”

Neon vs Revolut: Which is best for you?

Categories Financial Independence, Frugality, Switzerland

Neon and Revolut are both digital banks. However, they are very different banks. Until recently, they both were very complimentary. But then, something changed!

In January 2020, Neon announced that they removed the fees for payment abroad with their cards. It means that they are now a direct concurrent of Revolut, which everybody is using to save on currency exchange fees.

And in June 2020, Revolut reduced the amount of free currency exchanges you can do!

This new information makes it interesting to compare the two. Do you need Revolut now if you have a Neon account?

Continue reading “Neon vs Revolut: Which is best for you?”

Should you invest in gold in 2020? How to invest in gold?

Categories Investing, Financial Independence

We have already covered many investments on this blog. But we have not yet covered gold as an investment! Most people know Gold as a metal, and a lot of people have some at home in the form of jewelry.

But not many people know that we can invest in Gold. There are several different ways of investing in Gold.

But should you invest in Gold? And how can you invest in Gold?

Continue reading “Should you invest in gold in 2020? How to invest in gold?”

Should You Contribute to Your Second Pillar in 2020?

Categories Investing, Financial Independence, Retirement, Switzerland

In Switzerland, you can make a voluntary contribution to your second pillar. These contributions come with some tax advantages since you can deduct that from your income. Therefore, you have a return equal to your marginal tax rate. And this return is almost instant.

However, the money is then blocked into the second pillar. And the returns on that blocked money have been very low in recent years. Finally, you can only withdraw the money from your second pillar if you retire, if you buy a house or if you start a company.

One question many people ask is whether they should contribute money to their second pillar or continue investing in stocks.

Continue reading “Should You Contribute to Your Second Pillar in 2020?”

Grow Your Income or Spend Less to Reach FI in 2020?

Categories Financial Independence, Frugality, Side Hustle

When you are trying to reach Financial Independence (FI), the best way to reach FI faster is to increase your savings rate. Your savings rate is the amount of your net income that you can save.

For increasing your savings rate, you have two options. You can either spend less or grow your income. These two options will directly increase your savings rate. And as a result, they will speed up your road to Financial Independence and make you reach FI faster.

Continue reading “Grow Your Income or Spend Less to Reach FI in 2020?”

Life in isolation: 9 Lessons we are learning during the Coronavirus crisis

Categories Financial Independence

The current crisis is not a good thing. However, it is not the end of the world. And it can teach us some things about being socially isolated. Let’s stay positive and try to learn from this unprecedented isolation.

During this crisis, we have been learning many things. Some of these things we were already doing, and we only realize their importance now. But for other things, we understand that we can improve some things in our life. That way, the next time we will have to deal with such a crisis, we will be more prepared.

Continue reading “Life in isolation: 9 Lessons we are learning during the Coronavirus crisis”