Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #41  
Old 15.09.2021, 11:15
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 22 Times in 12 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
Wasn't there a famous quote from a French doctor who said, red wine, when drunk in moderation, has more benefits than it causes harm.

When later asked what he considered to be "moderation", he said, not more than a bottle a day.
The best one I heard was when told by the Dr that one glass of red wine a day is good for you, the reply was: how much can I drink that brings me back to the equivalent of drinking nothing?
Reply With Quote
The following 4 users would like to thank Polymath for this useful post:
  #42  
Old 15.09.2021, 11:18
amogles's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Zurich
Posts: 12,361
Groaned at 339 Times in 276 Posts
Thanked 26,262 Times in 11,001 Posts
amogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
The issue is that after a certain age eyesight, motor coordination, and hearing decay. So, beyond the price, large or powerful cars are for the (relatively) young and healthy. After some point, no need to sacrifice because public transport and taxis will the only option.
for some of us who never really understood the appeal of expensive cars, and don't see the appeal of a mode of transport that precludes being drunk, we skipped that phase before we even got into it.
Reply With Quote
  #43  
Old 15.09.2021, 11:18
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 22 Times in 12 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
Yes I can and I do. COVID has highlighted how important some of those things are to me and made me assess whether I could bring forward plans to retire, which I have by 5 years.

I already aim to spend 10 hours a week exercising, but rarely hit it. That and recovering from it already takes up quite a lot of time that could be spent on other things. Cooking from scratch I mean things that take a long time mainly on the barbecue. My fun car (and it‘s likely subsequent upgrade) don‘t get driven enough either because of how my time is allocated. That will also change.

As mentioned by Polymath keeping your mind sharp is also super important. I like to think I do that anyway and will continue to do so.


Whilst I am very content with my little domestic kingdom, I still want to get out and see my friends and experience new things.

Kids are a game changer for sure. I‘m sure someone posted a statistic here several years ago that in Switzerland the average cost of raising a child was CHF 250k. From a purely financial perspective, the opportunity cost of that missing income is huge. They obviously bring rewards to many people that cannot be measured though.

A good reason to free yourself of work commitments as soon as possible and enjoy the health that you have left.
Hmm, exercise, slow food, fine wine, cars and consideration for the opportunity cost of children - we are frighteningly similar!
Reply With Quote
This user would like to thank Polymath for this useful post:
  #44  
Old 15.09.2021, 11:22
Newbie 1st class
 
Join Date: Sep 2021
Location: Zurich
Posts: 17
Groaned at 3 Times in 1 Post
Thanked 18 Times in 9 Posts
PositivePenguin has no particular reputation at present
Re: Early retirement questions

Quote:
View Post
As I understand it, upon reaching retirement age, you'd then be entitled to two old-age pensions: one from the Swiss for your years of contribution up until you left, and the other from the EU country for the years of contribution made in that country. Neither country adds in years of contribution you made in the other country, but they each pay out their own pension.

Still, annoying for a Swiss citizen who just wants to carry on with the regular Swiss insurance.
That's correct but it comes with some caveats.

E.g. in the UK to qualify for pension benefits you need to have paid contributions for at least 10 years. That's the minimum threshold.

Therefore, if you spend 9 years in the country, you pay the National Insurance like everyone else, but you'll never get a single cent out.

And all of those years of contributions are not recognised by Switzerland either.

I am not blaming the UK, they are entitled to their own rules.

However, Switzerland shouldn't sign bilateral agreements explicitly forbidding Swiss citizens from contributing to the Swiss OASI and at the same time not recognise any sort of contribution they paid abroad.

They should just let Swiss citizens voluntarily contribute to the Swiss OASI regardless of where they live.
Reply With Quote
The following 2 users would like to thank PositivePenguin for this useful post:
  #45  
Old 15.09.2021, 11:26
Newbie 1st class
 
Join Date: Sep 2021
Location: Zurich
Posts: 17
Groaned at 3 Times in 1 Post
Thanked 18 Times in 9 Posts
PositivePenguin has no particular reputation at present
Re: Early retirement questions

Quote:
View Post
That's correct but it comes with some caveats.

E.g. in the UK to qualify for pension benefits you need to have paid contributions for at least 10 years. That's the minimum threshold.

Therefore, if you spend 9 years in the country, you pay the National Insurance like everyone else, but you'll never get a single cent out.

And all of those years of contributions are not recognised by Switzerland either.

I am not blaming the UK, they are entitled to their own rules.

However, Switzerland shouldn't sign bilateral agreements explicitly forbidding Swiss citizens from contributing to the Swiss OASI and at the same time not recognise any sort of contribution they paid abroad.

They should just let Swiss citizens voluntarily contribute to the Swiss OASI regardless of where they live.
Apologies, it's most likely not a bilateral agreement that prevents that. It's just a local matter, decided by Switzerland independently.

Off topic: Is there a way to edit messages? I can't find an edit button.
Reply With Quote
  #46  
Old 15.09.2021, 11:28
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,552
Groaned at 281 Times in 187 Posts
Thanked 18,385 Times in 7,703 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
That's correct but it comes with some caveats.

E.g. in the UK to qualify for pension benefits you need to have paid contributions for at least 10 years. That's the minimum threshold.

Therefore, if you spend 9 years in the country, you pay the National Insurance like everyone else, but you'll never get a single cent out.

And all of those years of contributions are not recognised by Switzerland either.

I am not blaming the UK, they are entitled to their own rules.

However, Switzerland shouldn't sign bilateral agreements explicitly forbidding Swiss citizens from contributing to the Swiss OASI and at the same time not recognise any sort of contribution they paid abroad.

They should just let Swiss citizens voluntarily contribute to the Swiss OASI regardless of where they live.
i thought if you had only 9 years, that there was a totalization agreement with switzerland so those 9 years get counted as swiss years for the swiss pension?
Reply With Quote
This user would like to thank Phil_MCR for this useful post:
  #47  
Old 15.09.2021, 11:29
Forum Legend
 
Join Date: Mar 2008
Location: ZH
Posts: 7,955
Groaned at 94 Times in 75 Posts
Thanked 12,301 Times in 4,988 Posts
doropfiz has a reputation beyond reputedoropfiz has a reputation beyond reputedoropfiz has a reputation beyond reputedoropfiz has a reputation beyond reputedoropfiz has a reputation beyond reputedoropfiz has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
They should just let Swiss citizens voluntarily contribute to the Swiss OASI regardless of where they live.
I agree with this.

As to the UK, I think that, since it's no longer in the EU, it is now permissible for a Swiss citizen who moves there to continue paying into the Swiss OASI if they elect to do so.
Reply With Quote
  #48  
Old 15.09.2021, 11:33
Axa's Avatar
Axa Axa is online now
Forum Legend
 
Join Date: Oct 2019
Location: Suhr, Aargau
Posts: 3,294
Groaned at 40 Times in 40 Posts
Thanked 4,423 Times in 2,043 Posts
Axa has a reputation beyond reputeAxa has a reputation beyond reputeAxa has a reputation beyond reputeAxa has a reputation beyond reputeAxa has a reputation beyond reputeAxa has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
Apologies, it's most likely not a bilateral agreement that prevents that. It's just a local matter, decided by Switzerland independently.

Off topic: Is there a way to edit messages? I can't find an edit button.
You need to post X times before the edit button works. Mods should know the precise number.
Reply With Quote
This user would like to thank Axa for this useful post:
  #49  
Old 15.09.2021, 11:36
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,552
Groaned at 281 Times in 187 Posts
Thanked 18,385 Times in 7,703 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
Wasn't there a famous quote from a French doctor who said, red wine, when drunk in moderation, has more benefits than it causes harm.

When later asked what he considered to be "moderation", he said, not more than a bottle a day.
reminds me of a time i was walking in london bridge area and overheard an exasperated guy arguing with his gf:

bf: "no, it means you should not drink more than 1.5 bottles of wine a week"
gf: "no, the recommended alcohol is 14 units a week which is 1.5 bottles of wine"
bf: "yes, but you should drink less than that"
gf: "no, the recommendation is that i should drink 1.5 bottles, you can look it up!".

i had to chuckle, he wasn't getting anywhere in that argument...
Reply With Quote
The following 3 users would like to thank Phil_MCR for this useful post:
  #50  
Old 15.09.2021, 11:46
eyebeebe's Avatar
Forum Veteran
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 2,160
Groaned at 19 Times in 18 Posts
Thanked 2,877 Times in 1,216 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
reminds me of a time i was walking in london bridge area and overheard an exasperated guy arguing with his gf:

bf: "no, it means you should not drink more than 1.5 bottles of wine a week"
gf: "no, the recommended alcohol is 14 units a week which is 1.5 bottles of wine"
bf: "yes, but you should drink less than that"
gf: "no, the recommendation is that i should drink 1.5 bottles, you can look it up!".

i had to chuckle, he wasn't getting anywhere in that argument...
And more importantly if you believe the recommendations, not in one sitting.
Reply With Quote
This user would like to thank eyebeebe for this useful post:
  #51  
Old 15.09.2021, 12:12
Newbie 1st class
 
Join Date: Sep 2021
Location: Zurich
Posts: 17
Groaned at 3 Times in 1 Post
Thanked 18 Times in 9 Posts
PositivePenguin has no particular reputation at present
Re: Early retirement questions

Quote:
View Post
i thought if you had only 9 years, that there was a totalization agreement with switzerland so those 9 years get counted as swiss years for the swiss pension?
Not according to the cantonal pension office I called. They say it's not recognised but I should get a UK pension once I retire (they don't know it takes 10 years to qualify).

Quote:
View Post
I agree with this.

As to the UK, I think that, since it's no longer in the EU, it is now permissible for a Swiss citizen who moves there to continue paying into the Swiss OASI if they elect to do so.
No, I think they have now agreed to pretty much the same thing. Anyways, when I called a few months ago and there was no agreement in place (as Brexit had just happened), they basically said that things were in a limbo but it was still not possible as they had not received any new instructions.
Reply With Quote
This user would like to thank PositivePenguin for this useful post:
  #52  
Old 15.09.2021, 12:15
MusicChick's Avatar
Forum Legend
 
Join Date: Feb 2008
Location: La Cote
Posts: 17,489
Groaned at 414 Times in 275 Posts
Thanked 20,428 Times in 10,577 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
Wasn't there a famous quote from a French doctor who said, red wine, when drunk in moderation, has more benefits than it causes harm.

When later asked what he considered to be "moderation", he said, not more than a bottle a day.
I am takin' off a pin I am wearing today..

Reply With Quote
The following 2 users would like to thank MusicChick for this useful post:
  #53  
Old 15.09.2021, 12:16
MusicChick's Avatar
Forum Legend
 
Join Date: Feb 2008
Location: La Cote
Posts: 17,489
Groaned at 414 Times in 275 Posts
Thanked 20,428 Times in 10,577 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
Hmm, exercise, slow food, fine wine, cars and consideration for the opportunity cost of children - we are frighteningly similar!
You date is reserved, 29th of Sept was it?, Kennedy's.
Reply With Quote
The following 3 users would like to thank MusicChick for this useful post:
  #54  
Old 15.09.2021, 12:22
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,378
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
Apologies, it's most likely not a bilateral agreement that prevents that. It's just a local matter, decided by Switzerland independently.

Off topic: Is there a way to edit messages? I can't find an edit button.
You are either too new a member or not made enough posts, you will soon get one along with thanks & groans
Reply With Quote
The following 2 users would like to thank fatmanfilms for this useful post:
  #55  
Old 15.09.2021, 12:29
MusicChick's Avatar
Forum Legend
 
Join Date: Feb 2008
Location: La Cote
Posts: 17,489
Groaned at 414 Times in 275 Posts
Thanked 20,428 Times in 10,577 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: Early retirement questions

Why do threads on retirement always turn into booze..We will get ready for early retirement at Kennedy's. Coaching is needed.
Reply With Quote
  #56  
Old 15.09.2021, 12:29
Junior Member
 
Join Date: Sep 2021
Location: Geneva
Posts: 58
Groaned at 3 Times in 3 Posts
Thanked 58 Times in 35 Posts
Biro is considered knowledgeableBiro is considered knowledgeableBiro is considered knowledgeable
Re: Early retirement questions

Quote:
View Post
Solitude and peace in nature with my goats is what I enjoy the most.

Solitude with your goats.........

Name:  Taliban goat.jpeg
Views: 151
Size:  71.0 KB
Reply With Quote
The following 2 users would like to thank Biro for this useful post:
  #57  
Old 15.09.2021, 12:32
Junior Member
 
Join Date: Sep 2021
Location: Geneva
Posts: 58
Groaned at 3 Times in 3 Posts
Thanked 58 Times in 35 Posts
Biro is considered knowledgeableBiro is considered knowledgeableBiro is considered knowledgeable
Re: Early retirement questions

Quote:
View Post
Wasn't there a famous quote from a French doctor who said, red wine, when drunk in moderation, has more benefits than it causes harm.

When later asked what he considered to be "moderation", he said, not more than a bottle a day.

You should NEVER ask how moderation is defined, it only leads to anxiety, disappointment and depresion
Reply With Quote
The following 2 users would like to thank Biro for this useful post:
  #58  
Old 15.09.2021, 12:58
MusicChick's Avatar
Forum Legend
 
Join Date: Feb 2008
Location: La Cote
Posts: 17,489
Groaned at 414 Times in 275 Posts
Thanked 20,428 Times in 10,577 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: Early retirement questions

Quote:
View Post
You should NEVER ask how moderation is defined, it only leads to anxiety, disappointment and depresion
Nooooo. Moderation is beautifully defined.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Early Retirement calculation sheet klebergreco Finance/banking/taxation 5 06.06.2021 08:29
Can pension purchase for early retirement be tax deductible? sjwprc Finance/banking/taxation 2 28.01.2021 05:29
Early retirement to the UK : LAMal and NI contributions bungow Finance/banking/taxation 45 30.08.2020 22:00
Early retirement in Switzerland EarlyRetirement Permits/visas/government 15 02.04.2019 22:51
Early retirement in Switzerland Scott Nettleton Introductions 1 10.04.2008 16:00


All times are GMT +2. The time now is 12:07.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0