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Old 09.07.2021, 11:30
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What would you do with CHF 2-3 millions ?

Imagine if you were 35 years old, single, no kids, no debt, had 9-5 office job. What would/should you do if you received taxable CHF 2-3 millions?
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Old 09.07.2021, 11:33
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Re: What would you do with CHF 2-3 millions ?

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Imagine if you were 35 years old, single, no kids, no debt, had 9-5 office job. What would/should you do if you received taxable CHF 2-3 millions?
I would invest 50% in Fundsmith & 50% in Smithson, then give notice to quit my job.
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Old 09.07.2021, 11:34
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Re: What would you do with CHF 2-3 millions ?

Coke and hookers.

Tom
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Old 09.07.2021, 11:35
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Re: What would you do with CHF 2-3 millions ?

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Coke and hookers.

Tom
I knew you would say something like that
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Old 09.07.2021, 11:36
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Re: What would you do with CHF 2-3 millions ?

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I would invest 50% in Fundsmith
Accumulation or Income?
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Old 09.07.2021, 11:37
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Re: What would you do with CHF 2-3 millions ?

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Coke and hookers.

Tom

Refund option on hookers if not up to Swiss quality?
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Old 09.07.2021, 11:39
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Re: What would you do with CHF 2-3 millions ?

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Imagine if you were 35 years old, single, no kids, no debt, had 9-5 office job. What would/should you do if you received taxable CHF 2-3 millions?
Nothing, there’s no shame in being poor in Switzerland

See reply from fatmanfilms and you have your answer.
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Old 09.07.2021, 11:39
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Re: What would you do with CHF 2-3 millions ?

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I would invest 50% in Fundsmith & 50% in Smithson, then give notice to quit my job.
This, but I wouldn't necessarily quit my job.

Depends if you like the job and enjoy the social side of it, vs want to get out of there and would build up other activities. Finding people of a similar age who aren't working may not be so easy.

Maybe there's a job you'd rather do which is also a hobby but which doesn't pay well - now's your chance.

Or just drop to 60% until age 40 - with no need to save or put more than the minimum in a pension would give enough income to try it out. Then confirm the fund has grown by another 50% or more and review the situation.
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Old 09.07.2021, 11:40
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Re: What would you do with CHF 2-3 millions ?

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Accumulation or Income?
Always accumulation - income gets taxed in CH.
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Old 09.07.2021, 11:42
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Re: What would you do with CHF 2-3 millions ?

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Imagine if you were 35 years old, single, no kids, no debt, had 9-5 office job. What would/should you do if you received taxable CHF 2-3 millions?
This week I had a discussion with someone facing a similar dilemma, what to do with a couple of millions. It seems a common attitude in Switzerland is keep working, saving and investing. The best case is working less, maybe having an additional day or two off per week. If you see men working 80% or less, the chance is good they are multimillionaires.
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Old 09.07.2021, 11:42
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Re: What would you do with CHF 2-3 millions ?

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Always accumulation - income gets taxed in CH.
Dividends reinvested in accumulation funds are treated as income in CH and taxed accordingly.
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Old 09.07.2021, 11:45
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Re: What would you do with CHF 2-3 millions ?

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Always accumulation - income gets taxed in CH.
I think accumulation would make sense with a daily job. If I quitted my job and not chose Income, then I would have no daily money to survive
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Old 09.07.2021, 11:46
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Re: What would you do with CHF 2-3 millions ?

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I think accumulation would make sense with a daily job. If I quitted my job and not chose Income, then I would have no daily money to survive
You can always take money out of the fund when you choose, whereas with income distributions you don't control the timing.
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Old 09.07.2021, 11:48
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Re: What would you do with CHF 2-3 millions ?

That would just about get you an apartment in Zurich...
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Old 09.07.2021, 11:55
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Re: What would you do with CHF 2-3 millions ?

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That would just about get you an apartment in Zurich...
Yes but it would rent you a nice one for > 50 years !
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Old 09.07.2021, 11:59
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Re: What would you do with CHF 2-3 millions ?

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Imagine if you were 35 years old, single, no kids, no debt, had 9-5 office job. What would/should you do if you received taxable CHF 2-3 millions?
Invest in bitcoin, buy an island (OK maybe a large rock on the Russian coast), buy one of those CHF 50k BBQ grills, book a flight on SpaceX and buy a Kanye West Hip Hop shirt

and what Tom says.
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Old 09.07.2021, 12:03
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Re: What would you do with CHF 2-3 millions ?

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Coke and hookers.

Tom
You’d give yourself a heart attack before you’d spent 5% of it 😛
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Old 09.07.2021, 12:08
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Re: What would you do with CHF 2-3 millions ?

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Accumulation or Income?
I would invest in accumulation & just drawdown living expenses as required. The income yield would be about 5k so irrelevant either way. Smithson pays no dividend
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Old 09.07.2021, 12:33
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Re: What would you do with CHF 2-3 millions ?

Most of the people that receive such a sudden cash inflow (think lottery winners, check youtube) fare best by continuing with their day job for social reasons, and to provide some regularity in their life. Maybe work less, and reward yourself from time to time with nice holidays, a nicer car, a kitchen update etc. etc.



Speaking from my own experience, I gave up working for a large company and retired into my own business startup.
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Old 09.07.2021, 12:40
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Re: What would you do with CHF 2-3 millions ?

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Most of the people that receive such a sudden cash inflow (think lottery winners, check youtube) fare best by continuing with their day job for social reasons, and to provide some regularity in their life. Maybe work less, and reward yourself from time to time with nice holidays, a nicer car, a kitchen update etc. etc.



Speaking from my own experience, I gave up working for a large company and retired into my own business startup.
Most of them just spend all the money within 5 years, so end up penniless & without a job.
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