First, I am so glad to have found a FIRE community for Switzerland! (Is that an oxymoron? Just kidding…)
I would like to share my story and current financial status. The reason for my post is to receive any recommendations or advice on my path to FIRE, based on my financial situation below.
I recently accepted a job offer in the French-side of Switzerland. I am currently a 26 year-old engineer, with no significant other, and I am currently living in the United States in a relatively low COL area. I will be moving to Switzerland to start my job in January, 2019. The job is not with my current company, so I am going to be completely integrated into Switzerland on a B-permit.
- Current Net Worth: ~$173k
- USD Current Salary: ~$85k USD
- Roth IRA ($24k)
- Company 401k ($73k)
- Betterment Brokerage ($51k)
- Cash Account ($20k)
I know this is high for a savings account, but I will soon have some cash purchases to make with regards to my relocation.
Current Savings Rate: ~45%, on average.
Swiss Situation :
- Annual Salary: 110k CHF (Paid over 13 months, 8461 CHF monthly)
- Swiss Pension: 10% employer contribution, with 7.5% employee standard contribution.
- Target bonus: 10%
- Health insurance: ~250 CHF contributed by employer, monthly.