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-   -   Reevaluating my life and need advice please. (https://www.englishforum.ch/other-general/112995-reevaluating-my-life-need-advice-please.html)

nomadic 04.05.2011 14:57

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by SOBEIT (Post 1185903)
Buy a Girlfriend.

No need... lazing about town all day with 400k in the bank: she'll find him. ;)

stephen_NE 04.05.2011 14:59

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by Seb70 (Post 1185933)
Excellent quality of life along with year long hiking destinations.

So how about buying a little place up in the mountains somewhere ? Keep your rented apartment in Zurich but invest in a little place that you can escape to, and that will be close to the activities you like. Excluding major ski resorts, there must be stuff available suitable for a single person at less than 400K. Not that I have really looked, so I may be talking rubbish.

cannut 04.05.2011 15:01

Re: Reevaluating my life and need advice please.
 
Quote:

Sorry, but the bean festival holds more pzazz for me...
See you at the bean festival then;)I drink Labbat Blue:msntongue:

BasP72 04.05.2011 15:37

Re: Reevaluating my life and need advice please.
 
The OP is in a situation where he has 400k on the bank and no real income.

An interesting question to ask , what if you're in the OP's situation (400kchf in bank) but still employed. Would you stop working ? Parttime maybe ? Move to Sweden buy a 100kchf palace in the woods, do odd jobs ? Move to Spain, work low wage part time but live luxuriously from savings ? Fullfill your life-long fream of running a high end brothel in Thailand ?

04.05.2011 15:54

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by BasP72 (Post 1186139)
The OP is in a situation where he has 400k on the bank and no real income.

An interesting question to ask , what if you're in the OP's situation (400kchf in bank) but still employed. Would you stop working ? Parttime maybe ? Move to Sweden buy a 100kchf palace in the woods, do odd jobs ? Move to Spain, work low wage part time but live luxuriously from savings ? Fullfill your life-long fream of running a high end brothel in Thailand ?

400k is what most EFers earn in 6 months. Not that much money

panda 04.05.2011 15:59

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by porsch1909 (Post 1186147)
400k is what most EFers earn in 6 months. Not that much money

any of them looking for a girlfriend? :msngrin:

diderot 04.05.2011 16:12

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by Seb70 (Post 1185873)
I did not know which section to post this under or what exactly I am asking but I will try. I am 41 year old single male and don't have any responsibilities as such. No kids or divorced partners. I live in rented accommodation and currently don't have free flowing steady source of income.

On the flip side working hard has resulted in me saving CHF 400k and it is just sitting in my Post finance savings account. To be honest I don't know what to do with this money. I was thinking about buying an apartment but 400k would not get anything in Zurich. Also with no steady source of income will any bank even look at me?

Any general advice on my situation would be highly appreciated.


buy one or two apt in one of the big cities in Europe (outside of CH, of course) rent it/them... it will be your work: collect money, fix issues at home, etc....
You'll gain from 1500 to 2400 per month, doing few things... of course at the beginning try to save some money for the unplanned expenses.
Then.... TRAVEL!!! ;)

diderot 04.05.2011 16:16

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by panda (Post 1186154)
any of them looking for a girlfriend? :msngrin:


I supposed you were leaving Switzerland.... :msngrin:

Chateau.X 04.05.2011 16:24

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by phdoofus (Post 1185899)
Quit job.
Buy motorcycle.
Travel around the world.
Stop occasionally to do work to earn money.
Return home.
Take bath.
Buy new motorcycle.
Travel around the world.
...

+One Million to this!

What I plan to do in the Future of my life, just exchange "Motorcycle" with "Sailboat" and "Travel" with "Sail"!


Quote:

Originally Posted by Seb70 (Post 1185915)
Really appreciate all the replies. One can't travel too much but I have done a lot of that already and ridden lot of motorbikes too.

I think what I am looking for is to maybe settle down and have a proper base in Zurich. I don't mean settle down in the sense of getting married because I really enjoy my independence and not being tied to any one woman. I am bit of a free spirit but by settling down I mean maybe having my own small flat.

The problem is no bank will probably look at me.

Love the words "Independence" and "Free Spirit" but... why settle in one place?

You have lots of time at your hand, just do what phdoofus has said or what I am trying to say! :msncool:

And my usage of grammar is so bad I know! :msncool:

panda 04.05.2011 16:38

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by diderot (Post 1186172)
I supposed you were leaving Switzerland.... :msngrin:

I am - but have time to party first

grumpygit 04.05.2011 16:44

Re: Reevaluating my life and need advice please.
 
Substitute OP with how can i live on. OP with the greatest respect , if you are able to accumulate 400k doing nothing of any substance, then you dont need advice from anyone. To all the posters, stop dreaming, stop buying euromillion tickets and get real. Its all a dream.

maximum 04.05.2011 17:49

Re: Reevaluating my life and need advice please.
 
well I guess he earned the 400K in earlier jobs.. Anywayz, I would buy an appartment building as an investment (rent it out), and live in the smallest appartment yourself. If you buy it as an investment the rental income will be seen as steady income and with 400K down payment you can get up to 800K mortgage (if location, general state and rental income are good) and buy something worth over a million.

Or stay in ur rental, and find a good business opportunity you can invest in, in your field.

BasP72 04.05.2011 18:51

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by maximum (Post 1186261)
well I guess he earned the 400K in earlier jobs.. Anywayz, I would buy an appartment building as an investment (rent it out), and live in the smallest appartment yourself. If you buy it as an investment the rental income will be seen as steady income and with 400K down payment you can get up to 800K mortgage (if location, general state and rental income are good) and buy something worth over a million.

Or stay in ur rental, and find a good business opportunity you can invest in, in your field.

1.2M chf will only get you 1, maximum 2 appartements. The rent income you will need to pay off the mortgage so where is the profit in this ? Plus we all know what a headache tenants can be (looks at Mr Cashboy)

miniMia 04.05.2011 19:25

Re: Reevaluating my life and need advice please.
 
If I were you I'd buy some rental properties in a popular holiday destination and rent them out furnished, temporary.

Passive income!

phdoofus 04.05.2011 20:25

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by panda (Post 1186192)
I am - but have time to party first

This is how you turn 400K into 0K: get a girlfriend.

Ihatefondu 04.05.2011 20:36

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by Seb70 (Post 1185873)
I did not know which section to post this under or what exactly I am asking but I will try. I am 41 year old single male and don't have any responsibilities as such. No kids or divorced partners. I live in rented accommodation and currently don't have free flowing steady source of income.

On the flip side working hard has resulted in me saving CHF 400k and it is just sitting in my Post finance savings account. To be honest I don't know what to do with this money. I was thinking about buying an apartment but 400k would not get anything in Zurich. Also with no steady source of income will any bank even look at me?

Any general advice on my situation would be highly appreciated.

Im 40 divorced, 2 Kids ...with similar amount of cash, firstly if i met a new girlfriend ..i would not mention the cash...open an Australian term deposit account @7% interest ...put some of it in there 350K ...take 50K .., get a back pack and go travelling for 6months, go to The Islands in Thailand and sit back and relax if you go for a year and manage to live on 50k ...which would be easy in places like Indo.. you will find the interest you made in that year will cover half your travel costs..:msncool:

10pixels 04.05.2011 20:55

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by Seb70 (Post 1185873)

Any general advice on my situation would be highly appreciated.

My husband recommends this book:

Safe Strategies for Financial Freedom by Van K. Tharp, D.R. Barton, Jr., and Steve Sjuggerud

swans1984 04.05.2011 22:44

Re: Reevaluating my life and need advice please.
 
With the financial climate at the moment and things at an all time low you could consider purchasing some land.

V__ 04.05.2011 23:02

Re: Reevaluating my life and need advice please.
 
Quote:

Originally Posted by st2lemans (Post 1186078)
You get 20 years of not having to do upkeep and maintenance, repairs, etc.

You also get 20 years of not having to pay income tax on the rental value of your home.

Definitely worth it.

Tom

No intention to ruin the topic here, but I find this statement hard to believe. First, let me say that I have no idea how it works in Switzerland, but I can't think that you will be loosing money on the long run if you buy your place rather than to rent it. Quick (quick I say) calculation shows if I had the minimum 25% to buy the apartment I am renting, the monthly payment would be 50% of my current rent. Let's say the rent was 3k, that is over 18k saving a year. I can't think that each year you'd spend that kind of money on tax and repairs. Even if you do, you end up owning an apartment valued who knows how much more after so many years?

Just my reasoning, I have to say I don't have much experience or real knowledge yet in Switzerland, please correct me if I have misunderstood something, I have lived in Switzerland for only a year now.

Seb70 05.05.2011 07:32

Re: Reevaluating my life and need advice please.
 
I checked my email this morning and was pleased to see more messages.
Quote:

Originally Posted by adrianlondon (Post 1185946)
Although I think owning a property is a good idea (UK background; it's sort of drilled into us from birth) I don't see rent as "dead money".

If you were in my position you would buy property in UK? Isn't the property market in UK dodgy right now?


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