I have monitored my net worth since October 2017. But until now I have not considered my second pillar into it. Why? Because I do not get a monthly report on my second pillar. However, I do not really need this monthly report since I can extrapolate from the yearly values. Before, I just was too lazy to do it. But laziness is not an excuse, especially for personal finances!
So, I decided to stop being lazy and do it. In this post, we are going to see why you should integrate your second pillar into your net worth. And we are going to see how to integrate it. It is very simple. And it will make your net worth calculation much more accurate. I believe it is very important to have an accurate view of your net worth.
If you do not know your net worth, first take a look at how to calculate your net worth. I strongly encourage everybody to compute his net worth. It is an important indicator, especially if you want to become financially independent.
Continue reading “How to Integrate Second Pillar in Your Net Worth”
It is now time to make the point about March 2018. Compared to the very poor February month, March 2018 is a great month :)
Not a lot of things happened this month. But that is not bad. I like quiet months. And I was able to save a large part of my income this month. This is great after a bad month.
Continue reading “March 2018 Update – Excellent month”
(This post was first published on Mustachian Post. Thanks a lot to MP for the opportunity of guest posting.)
I have now been using DEGIRO for about four months. I think It is now time for a review of the tool.
It’s important to mention that I never tried any other broker. I decided to use DEGIRO four months ago based on costs. Moreover, I am a computer scientist, so no issues with potential tech issues. Finally, my portfolio is very small, so my experience may not compare to yours.
Note: The links to DEGIRO are affiliate links. If you use them to create an account, you will receive 20 CHF and I will receive 20 CHF as well.
Continue reading “Review of DEGIRO as a Broker for Swiss Investor”
Many people have life insurance. One of the best reasons for itis if people are depending on your income. If you pass away or are unable to generate that income, the life insurance can come into play to help the people that are dependent on you. This will not last for life but can be of great help.
In most case, it is very difficult to account for your life insurance in your net worth. Indeed, unless you die, you will not get any money from the insurance. So it does not make sense to account for it as a value in your net worth.
But there are different kinds of life insurance. In Switzerland, we have some special kind of life insurance that is linked to retirement. If you do not have any issue before retirement, you will get back most of the money.
Therefore, it makes sense to account for this kind of life insurance in your net worth.
So, let’s see how to account for it!
Continue reading “How to correctly account for Life Insurance in Your Net Worth”
These days, I have made many updates on the blog. Since the migration to self-hosted WordPress, I have improved the performance of the website, fixed the HTTPS version of the site and cleaned up my WordPress plugins. I am hoping that this will improve the experience of the readers of the blog.
In this post, I am going to describe the changes I have done recently. The goal is to improve the performance of the website as well as the Search Engine Optimization (SEO) of the website. This will be a blogging and hosting post, nothing really related to finance here :)
Continue reading “I made the Blog Faster and More Secure!”
Update: I have now made some changes to make my investment portfolio much simpler.
In 2018, I wanted to add a few bonds to my portfolio. I am in long-term investing. I only in my 30s and I do not plan to retire for at least 10 years. And I already have some very safe investments in my second and third pillars. Therefore, I do not need a lot of bonds. But I wanted to add 5% of bonds into my portfolio to be safe and to allow for more re-balancing opportunities. Also, I do have bonds in my third pillar account.
Moreover, I wanted to improve my portfolio. More specifically, I also wanted to get rid of my crypto-currencies. So, I updated a bit my previous portfolio to reflect this. Moreover, I also wanted to depend less on the dollar. In this post, we are going to see exactly what I have changed in my portfolio.
Remember that it is only one example of a portfolio. I am no financial advisor. I am just sharing what I am doing for investment. What may work for me may not work for you.
Continue reading “Updated ETF portfolio for Switzerland – Bonds and Dividends”
Yesterday, the Swiss people were voting on several objects. The No-Billag initiative was one of them, as I mentioned earlier. This initiative wanted to remove the Billag tax. This tax supports the Swiss TV and Radio services. This tax is currently around 450 CHF. But the government will reduce the tax next year to 365 CHF. Unfortunately, the Swiss citizens strongly refused the initiative :(
I have to say that I am quite disappointed in my fellow citizens today. It seems like people like to pay inconsiderate taxes. Thus, we will still have to pay this tax. The only upside is that the tax will be less expensive next year. But that is still a tax I am paying for nothing I am using.
Continue reading “No Billag: Swiss People Like Taxes”
Update: I have migrated away from bluehost to SiteGround. I do not recommend you to use bluehost anymore. You can read the reasons why I do not recommend bluehost anymore. If you want a serious hosting provider, I recommend Siteground
I took some time today to migrate the site out of wordpress.com to bluehost. The free hosting at wordpress.com is not bad, but miss the full capabilities of full WordPress. Now, I can install all the plugins I want, do any custom change and improve the site to be exactly what I want. This is only possible with self-hosted WordPress. I also wanted a real domain for visibility reasons :) Another advantage of a self-hosted is that it will greatly improve your Search Engine Optimization (SEO).
The new URL of this website is now: https://thepoorswiss.com/
Continue reading “How to Migrate a Blog from wordpress.com to BlueHost”
Update: I changed the way I am accounting for my life insurance, this gives me a savings rate of 4.2% now. It is still a very bad month.
February is now done, it is time for another monthly update! This was not a good month at all for the financial side. But we had a lot of fun in China. And I was happy to see my fiancee again!
I have not posted on this blog since the last update, I was on vacation in China for more than half the month. I hope to post more in March.
Continue reading “February 2018 Update – Vacation and wedding”
Edit: I changed the way I am accounting for my life insurance, this gives me a savings rate of 33.7% now.
It is time for another monthly update! After a good December 2017, the new year is up to a great start in January 2018 with yet another very good month :) I am really starting to get a hold of my finances.
Continue reading “January 2018 Update – Ph.D. and good savings”