Last year, I decided to go paperless with my administrative documents. It was a long work, but now I’m done. All my documents are available as electronic documents now. I’ve been able to throw away five big document binders.
I’ve used my phone as scanner and uploaded all my documents to the cloud. Find out how I became paperless for free in this post.
Continue reading “Why (and how) I went paperless”
Over the years, I made many investing mistakes. In this post, I will relate on my 9 biggest investing mistakes and what I could have done better. It’s also the story of how I got into investing early and left very early. And finally investing too late!
Continue reading “My 9 biggest investing mistakes – How to avoid them!”
It’s been a long time now since I wanted to write my Investor Policy Statement (IPS). I just took some time over the last week to write it down completely.
So, what’s an IPS ? Basically, it’s a set of guidelines for your investing. It will state how you are going to invest and why. It should also state how you will react to some events.
Why would you need an IPS ? The reason is to keep you on the right path when a situation trigger. If you already though of the problem and the solution to it, you know how to react. You don’t need to be emotional about it. And emotions in investing are generally a bad thing.
I didn’t invent the concept! It’s an old thing. It was at first used between a portfolio manager and the client. This was helping the manager invest in the way the client wanted. Since I’m my portfolio manager, I’m doing this statement only between me and me. I was motivated to write my IPS after I read this post by Mr. Retire In Progress. He was himself motivated by another post by Physician On Fire. I would also recommend you read these two posts if you want more information on the subject.
If you want an example, you’ll find my Investor Policy Statement just below. Keep in mind that every IPS is different and should be made for your own situation and goals. So let’s delve into my own IPS.
Continue reading “My Investor Policy Statement – You need one too!”
The last book I read is The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, by Thomas J. Stanley and William D. Danko. This book is a study of the millionaire households in the United States. In this post, you’ll find out exactly what this book is about and what I though about it. I was lucky to find it very cheap on Kindle.
I’m still reading many new personal finance books. And so far, it’s been a great ride. There are some really great books about personal finance, investing and frugality.
Continue reading “The Millionaire Next Door – Book Review”
In this post we are going to see how to calculate the amount of your net worth. You net worth is how much your possessions are really worth, in money. Having a clear idea of your exact net worth is very important. It will help you to see how far you are from reaching your goals. If you keep track of it, you’ll also see how well you are doing.
The basic idea about the net worth is simple. Your net worth is the sum of your assets minus the sum of your liabilities. In mathematical terms:
Net Worth = Assets – Liabilities
Let’s see in details how these two parts can be calculated.
Continue reading “How to calculate your net worth”
The previous three posts of the series covered the three pillars of retirement in Switzerland:
In this final post of the series, I’m going to summarize over the entire system. I’m also going to talk about how early retirement works in this system.
Continue reading “The three pillars of Retirement in Switzerland – 4. Summary”
I started this series with details about the first pillar. I then continued with information about the second pillar. This post will cover the last of the three pillars, the third pillar. This pillar is the only one that is not mandatory. Everybody is free to choose to invest into the third pillar or not. It is simpler than the second pillar. But there are much more choices than you can make. In this post, you’ll find all the details you need to invest into a third pillar. And also, what you can do to optimize your use of the third pillar.
Continue reading “The three pillars of Retirement in Switzerland – 3. The third pillar”
We have studied the first pillar and Switzerland three pillars system in the previous post in the series. Now, it’s time to see the second pillar. The first pillar cover the basic needs of everybody. The second pillar is here to cover a larger part of your salary than the first one. If you never worked, you’ll never pay anything for this and you’ll never receive anything from this. It is significantly more complicated than the first pillar. In this post, I’m going to try to give you as much important details as possible on the second pillar. I’m also going to try to help understand what you can do to improve it.
Continue reading “The three pillars of Retirement in Switzerland – 2. The second pillar”
Switzerland retirement system is based on a system with three pillars. Each pillar is paid in a different manner and will cover different needs. If you are working in Switzerland, it’s important to know these three pillars. This will help you plan your retirement.
In a series of posts, I’ll try to give you enough information on these three pillars. The goal is that you have a good understanding on how they work. And also what you can do with them to improve your retirement. In this first post of the series, I’ll introduce the system and talk about the first pillar.
Continue reading “The three pillars of Retirement in Switzerland – 1. The first pillar”
I’ve been monitoring my net worth since October 2017. But I’ve not considered my second pillar into it. Why ? Because I don’t get a monthly report on my second pillar. However, I don’t really need it since I can extrapolate from the monthly results. I just was too lazy before to do it.
I decided to stop being lazy and do it. Let’s see how (and why) I did it.
If you need, first take a look at how to calculate your net worth.
Continue reading “How to integrate second pillar in my net worth”