[Sponsored] “It is not sufficient to speak about issues – we have to present options too”

13. AHV pensions, rising residing prices, poverty: pension and monetary points appear to fret individuals in Switzerland – do you assume so too?
It’s optimistic that folks speak about cash – that is without doubt one of the goals of my work. FinanzFabio’s imaginative and prescient is to avoid wasting Switzerland from poverty in outdated age via monetary schooling. For many individuals it’s troublesome to evaluate the standard of the numerous data. I’m all the time shocked on the stage of half-knowledge there’s. Moreover, it isn’t sufficient to speak about issues – we additionally want to indicate options.

We’ll speak about options in a second. What sort of matters do individuals come to you with?
They wish to safe their household, purchase a house, take early retirement or begin investing. I typically marvel how cash ought to be divided equally in couple relationships. For married {couples}, I like to recommend placing all of your earnings in a joint account. Each obtain pocket cash from right here to their very own accounts. Anybody can spend this cash as they need with out having to reply to their associate. As well as, everybody has their very own financial savings account with an emergency fund – as a result of within the occasion of demise, joint accounts are blocked.

Are there variations in what considerations totally different generations?
It is typically the boys who ship their mother and father to me to assist me plan their retirement. I’m comfortable when totally different generations speak to one another about cash. All of us sit down on the desk collectively to plan – so the youngsters be taught one thing too. For younger individuals, the main target of recommendation is normally on constructing wealth; for the aged, for instance, it’s about having an affordable residence worth in outdated age or the choice for a pension or capital. Dwelling possession within the occasion of demise can be an necessary problem. With out an property settlement, the surviving associate might not have the ability to pay the youngsters and should promote the house.

What are the commonest monetary errors you see?
The worst mistake isn’t investing in any respect in case you do one thing flawed. What is usually missed: Elevated earnings is the most important instrument in retirement planning – for instance via a brand new job, self-employment or part-time work. The pension fund resolution ought to all the time be mentioned throughout the interview: there are huge variations there. Many individuals can’t learn their pension certificates. So you do not even understand how a lot you’re saving in your pension fund for outdated age. Self-employed individuals typically pay themselves too low a wage as a result of they wish to save tax, however they do not notice that this implies they’re lowering their AHV pension. Many spouses signal their tax return with out it. So they do not know their monetary state of affairs, which may have an effect on it within the occasion of a divorce. Different errors embrace residences which can be too huge and costly, fastened prices which can be too excessive, no finances – and final however not least: spending cash you do not have.

Let’s go to the options. What considerations everybody?
An underrated matter is the finances: It’s important to know your earnings and bills and to create a finances. The following steps are to cut back fastened prices and save an emergency fund. I like to recommend your individual cost first – ideally computerized. Many individuals make the error of saving what’s left on the finish of the month. I make investments each month with a standing order as quickly as my wage is paid – earlier than I pay my payments. Generally it is smart to put money into column 3a. I like to recommend investing more money in an ETF (Exchangeable Fund). You will need to begin investing early and achieve expertise. Not solely due to the compound curiosity, but additionally so you may get used to the ups and downs of the inventory market earlier than withdrawing your pension fund capital.