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Old 04.05.2011, 12:30
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Reevaluating my life and need advice please.

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.
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Old 04.05.2011, 12:36
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Re: Reevaluating my life and need advice please.

Hey Seb70,

A lot of people have found traveling to be an ultimate escape and allowed them time to discover what they want to do with themselves. It sounds as though your job is pretty impermanent, so my advice would be to invest half of your savings into your future. With the other half, I suggest you take maybe 6 months and go exploring a place you've always wanted to visit. 200k can last a long time (despite what many Swiss might tell you), especially if you don't mind living on a shoestring (I actually prefer it that way myself).

Just some food for thought. All the best!
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Old 04.05.2011, 12:37
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Re: Reevaluating my life and need advice please.

Alternatively, my bank account is looking quite empty if you're looking to make an honourable donation.
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Old 04.05.2011, 12:38
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Re: Reevaluating my life and need advice please.

400k might not buy a property outright but it would be a tidy sum to put forward for a mortgage.
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Old 04.05.2011, 12:39
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Re: Reevaluating my life and need advice please.

Support a local trolling EF member to continue provided entertainment throughout the work day

Seriously, I think property is your best bet, or some stable investments to continue an income.
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Old 04.05.2011, 12:40
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Re: Reevaluating my life and need advice please.

Quote:
400k might not buy a property outright but it would be a tidy sum to put forward for a mortgage.

"I live in rented accommodation and currently don't have free flowing steady source of income." may stop him getting a mortgage
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Old 04.05.2011, 12:41
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Re: Reevaluating my life and need advice please.

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"I live in rented accommodation and currently don't have free flowing steady source of income." may stop him getting a mortgage
I've got my sandwich goggles on and didn't read the post properly...
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Old 04.05.2011, 12:41
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Re: Reevaluating my life and need advice please.

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.
...
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Old 04.05.2011, 12:46
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Re: Reevaluating my life and need advice please.

Buy a Girlfriend.
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Old 04.05.2011, 12:55
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Re: Reevaluating my life and need advice please.

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.
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Old 04.05.2011, 13:01
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Re: Reevaluating my life and need advice please.

Quote:
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Buy a Girlfriend.
I have managed to dodge the bullet that my divorced friends have been hit with so casual relationships is where I operate. Thankfully the ones I have been with never asked for money.
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Old 04.05.2011, 13:02
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Re: Reevaluating my life and need advice please.

With a decent deposit (which 400K surely is; you could put down a 200K deposit and show them the rest of your bank balance to prove you're no dosser) and some accounts to show previous years' income (even if you just type up the "accounts" yourself to show what you earn vs what you spend) then a bank should still be interested in you.

Wow, what a long sentence!
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Old 04.05.2011, 13:03
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Re: Reevaluating my life and need advice please.

You dont have to buy a place in Zurich.

There are 5000 places listed on Comparis today, that are 400k or under with a minimum of 2 rooms.

http://www.comparis.ch/immobilien/default.aspx

Ehrendingen or Niederwenningen is a train ride away to the centre of the city - just as an example.
These are also close to the Baden train station, which is on route to Bern & Basel, if your job changes.



If that is what you want....


Personally.. I have a slight hesitation in putting all eggs in that one basket..
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Old 04.05.2011, 13:05
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Re: Reevaluating my life and need advice please.

Quote:
so my advice would be to invest half of your savings into your future.
How exactly would I do that?

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Alternatively, my bank account is looking quite empty if you're looking to make an honourable donation.
You could always empty your account completely and transfer whatever little you have left to my account
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Old 04.05.2011, 13:06
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Re: Reevaluating my life and need advice please.

Send it to a nigerian dictator so he can send you Millions back.

Then you can buy a house.

Have you thought about moving to a "cheaper" country. 400k can buy a lot in Mexico for example.
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Old 04.05.2011, 13:10
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Re: Reevaluating my life and need advice please.

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The problem is no bank will probably look at me.
You don't need a bank with CHF400k the bank needs you!
If you're swiss then you're SOL, as that CHF400k will be like a drop in the lake and won't be enough to buy you a place as well as generate an income, however if you come from a different part of the world then it might be worth investing there as it would generate more than the poxy 2% you might get in the post finance savings account. I wouldn't put all my eggs in one basket and investing in property right now is quite doubtful as the shizzle hasn't hit the proverbial fan just yet and if it does you could be looking at a big set back to your capital.

Anyway you probably won't get too much of a direction on here and in the end you will have to go with your gut instinct and do something you really enjoy so without knowing what you're into and what you aim is in life it will be difficult to tell you what to do and even if we did would you really follow it?
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Old 04.05.2011, 13:10
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Re: Reevaluating my life and need advice please.

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Have you thought about moving to a "cheaper" country. 400k can buy a lot in Mexico for example.
I really like Switzerland. Excellent quality of life along with year long hiking destinations is a no brainier for me.
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Old 04.05.2011, 13:13
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Re: Reevaluating my life and need advice please.

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Old 04.05.2011, 13:13
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Re: Reevaluating my life and need advice please.

I`m seriously depressed after reading that . . . don`t get me wrong, I am happy for you . . . . I think you have many, many options.
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Old 04.05.2011, 13:16
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Re: Reevaluating my life and need advice please.

I'd use part of it to buy your own place since rent is dead money. I'd invest the rest into something that generates you an income.
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