Swiss Life Select will not help your financial life

Categories Investing, Retirement, Switzerland

I have already talked about the Swiss Life Select (SLS) company in the past. I paid for their services. And I consider it is one of my biggest budgeting mistakes. There are many reasons for that. Not only was paying for their services a mistake. But so was accepting some of the products they recommended. And I just thought a new thing that I find out about them. They screwed me over with bad insurance.

So I want to talk more about that. I do not want other people to make the same mistake as me. While this post is focused on SLS, it applies to most of all the financial advisors and insurance advisors you will be in contact with. They almost all have the same issues.

As a note, this only reflects my experience with Swiss Life Select. Maybe some other people had a better experience with them. And since you have a private advisor in the company, it is also possible that my bad experience is related to that.

So, let’s see what is wrong with that SLS offers you in this post! I hope that this does not come as too much of a rant. I made some bad choices by trusting these people, and I want people to avoid making the same mistake as me! Continue reading “Swiss Life Select will not help your financial life”

Switzerland is unfair to married couples

Categories Switzerland, Financial Independence, Retirement

Marriage is a great thing in which I believe. However, something that not many people know is that in Switzerland, you are better off financially if you are not married. There are several disadvantages to being married in Switzerland.

Do not take me wrong, I am not saying you should not get married! We got married last year and I do not regret it at all. Marriage is about love not about money! But I know that in the future, we would be better off financially if we did not marry. This is important to know the differences between married couples in Switzerland, especially if you plan to retire here.

So in this post, we are going to see what financial difference there are between a married couple and an unmarried couple. You will see that there are some substantial differences in taxes and retirement for married couples.

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Interview of Daniel Peter, CEO of VIAC

Categories Retirement, Switzerland

I had the chance of interviewing Daniel Peter, the CEO of VIAC. If you do not yet know what VIAC is, it is a Swiss company that is providing an excellent third pillar option. If you are not familiar with the third pillar, I wrote an entire post about the third pillar. It is the Swiss equivalent of an IRA but with less choice. It is tax-advantaged and should be used by everyone serious about retirement.

I have already talked about this company on this blog. Currently, VIAC is offering the best third pillar option in Switzerland. They have very low fees compared to the other Swiss options. It is very easy to open an account at VIAC as well.

Moreover, they were also the first company to offer a third pillar account with 97% of stocks. Before that, the best option has only 75% of stocks. This is really great because the investment time of the third pillar is very long. Therefore, we want a large allocation to stocks.

But, Daniel Peter will tell you all about VIAC much better me. So, without further ado, here are Daniel’s answers to my questions!

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Health Plan for 2019 – Retire Healthy And Early

Categories Retirement

Neither Mrs. The Poor Swiss nor me are in bad health. We are very lucky in that matter. However, being a computer scientist and not going out a lot is not a good long-term prospect for my health. These last few years, I have felt that my health decreased. I am not as much in shape as I was 10 years ago. And my back has been painful a few times recently.

Even though we do not have big problems, health is really important. These days, we focus too much on our finances. I want to retire early and I also want to retire healthy! For this, it is important to try to work on our health as we are working on our finances.

In this post, I am going to discuss the things we want to do in order to improve our health in 2019. Do not expect any fancy cure that will solve all health issues. There is no such thing. We focused on simple things for 2019 to ensure that we stay in good health.

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What Would I Do If I Retired?

Categories Retirement, Blogging, Financial Independence

There are many people who do not know what they will do if they were retired. If you are serious about reaching financial independence and retire early, you should already know what you would do in retirement. You will have a lot of time on your hands.

I already know that there are a lot of things I would do more once I retired. There are a few things I really wish I had more time to do. It is my hope that in retirement, I will be able to do more of these things.

In this post, I am going to describe the changes for me in retirement. As you will see, there are a lot of things I would like to do more in my life. I am also going to describe how I am going to organize my days. Of course, this is only a thought experiment. I am far from retirement. A lot of changes will occur in the meantime.  But it is still a nice thought experiment.

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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 really easy 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.

You could think that you are going to spend exactly the same as you spend now. But this is quite wrong. You need to take into account many things. You will normally pay fewer taxes. But your health expenses are likely to increase. And inflation will increase your expenses significantly over the years.

In this post, I am going to cover the main points that will impact your retirement spending. It is not a surefire way to estimate how much you will spend in retirement. But it will definitely help if you want an accurate estimation.

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How to Open a VIAC Third Pillar in a Few Easy Steps

Categories Investing, Retirement, Switzerland

I recently compared the different third pillars available in Switzerland. I quickly concluded that VIAC provides the best third pillars in Switzerland. VIAC third pillars are cheap and have an excellent global diversification. Moreover, you can have up to 97% of your portfolio invested in stocks.

Before, my only problem with VIAC was that they are mobile-only. But I need to go over this small problem and be smarter about it! And since PostFinance increased their fees, I decided to walk away from them earlier than I planned.

Now that I have chosen my new third pillar, it is time to do the transfer. For this, I first have to open an account at VIAC. Then, I have to transfer my existing third pillar money from PostFinance to VIAC. In this post, I am going to describe the steps necessary to open a VIAC third pillar. Then, I am also going to explain how to transfer an existing third pillar to VIAC.

As you will see, it is incredibly easy. If you think it is difficult to open a new third pillar and transfer your existing third pillar money on it, then I hope I will convince you that it is trivial! You should not delay changing a bad third pillar for a good one by the fear that it is difficult because it is not!

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Is VIAC the Best Third Pillar in Switzerland in 2020?

Categories Investing, Retirement, Switzerland

There are many third providers in Switzerland. Some of them are good, but most of them are too expensive. You do not want to waste your retirement bank in fees. Therefore, you need to choose the best third pillar provider.

Let’s compare the available third pillar account in Switzerland. And let’s try to find the best third pillar account for you.

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The Millionaire Next Door – Book Review

Categories Financial Independence, Investing, Retirement

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, is a book by Thomas J. Stanley and William D. Danko. This book is a study of millionaire households in the United States. In this post, you will find out precisely what this book is about and what I thought about it. I was lucky to find it very cheap on Kindle.

This book is one of the best personal finance books I have read. The authors have gone into a lot of effort to collect all the data from millionaires. And they have drawn some fascinating conclusions from this data.

I am still reading many new personal finance books. And so far, it has been a great ride. There are some great books about personal finance, investing, and frugality. It is just a bit sad that most of these books are missing any international content. They are made for the United States. However, a lot of their lessons can still be translated into Europe.

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The Three Pillars of Retirement in Switzerland

Categories Retirement, Financial Independence, Investing, Switzerland

The previous three posts of the series covered the three pillars of retirement in Switzerland:

In this final post of the series, I am going to summarize the entire system. I am also going to talk about how early retirement works in this system.

It is very important to

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