Do you benefit financially from this forum?

Coffee
1

When I saw this quote it made me think. How much do I benefit from this forum in terms of hard dollar numbers.

  • Not directly on the forum, but in the Basel FIRE meetups I received input that lead to a 5 figure benefit in the last 2 months
  • On another forum, I received information/advice which ultimately lead to a 7 figure gain
  • I can’t think of specific big examples for this forum but I would imagine various little things adding up to a 5 figure benefit.
5 Likes
2

Morning, surely.

Key actions taken so far due to forum suggestions:

  • learnt how to and submitted the DA form for reclaiming US WHT on dividends, a few hundred CHF now (when/if it gets approved) but it’ll add up
  • Moved from UBS to PostFinance, not paying AUM-based costs will also add up over time
4 Likes
3

Hello, I am currently at UBS because when I moved in Switzerland my company had a partnership with UBS so I went for the easy solution. Time has passed, and I am now curious to make a change to avoid the fees I have with UBS. Considering that their customer support is terrible (in my experience), there is nothing justifying the cost. I have read that the ZKB has very low fees but I live in NE canton where there is no ZKB branch close by. What is your PostFinance situation?

4

I’d say very straightforward, I don’t do anything fancy, just buy and very rarely sell/rebalance. The costs are 18CHF/quarter, which double up as account trading fees, so in essence the account turns out to be free which I am happy about. Also opening the account was very easy, just an application in the Post office, then complete the forms they send you and send them back, the e-trading account you can open online without any other physical step, if I remember correctly.

Edit: transferred positions to PF, needed a hard copy and wet signature to UBS, took about two weeks, cost something like 180CHF/position (may be making this up, it’s been a few years) but PF refunds up to 800CHF of transfer fees (again, check the number, but it’s not far off, 600 or 800), which they did after I gave them proof of UBS transfer costs.

2 Likes
5

Are you counting decimals? :winking_face_with_tongue:

Would you mind to share tips? :money_bag:

6

Thanks for all the info. Did you move your bank accounts as well?

7

No, kept UBS as my regular account and sending off funds to PF - doubles as “pay yourself first” too :slight_smile:

Edit: but people will (rightly) say that PF is Swissquote, just more expensive (it’s using Swissquote as far as I understand), and IBKR is better.

1 Like
8

Yes I do benefit financially, I even did some calculations on how much in this introduction post of mine.

9

ZKB has online application processes, so no need to visit a branch. But they only offer German and English as communication language. And there are other offers that are also free:

Wir Bank (my choice, has the best debit/credit card for purchases in non-CHF)
Yuh

1 Like
10

For holding it’s actually cheaper (last I checked).

2 Likes
11

Could you elaborate on these inputs or were they too specific on your situation? Not sure if this strays too much from the original topic

12

To address the title of this topic: I have definitely benefited in the sense that I now take my finances more seriously and am exposed to discussions and ideas about personal finance, which is something that does not really happen within my current circle.

6 Likes
13

The 5 figure one was a deal I ran past someone at the meet-up. From the discussion, it gave me input on something I missed and later worked on it and generated a 30k benefit.

The 7 figure item was from discussions with fatmanfilms from swissforum. He made me re-think my approach to investment which ultimately led to a 7 figure benefit. Had I had the discussions earlier, or internalized the learnings a few years earlier, it could have been an 8 figure benefit due to the opportunities missed, or bungled due to inexperience.

Oh, I forgot that the same forum also put me onto the most generous pension ‘loophole’ in the world and I will have an annual 13k CHF inflation adjusted UK pension from age 69 which cost me only £2,600 in total.

In discussions with various people, I also formed different ideas on retirement/pension/tax planning which could save 6 figures in tax if implemented at retirement (still TBD if I will implement).

So I would advise all to run your ideas with a few people and get some input - but only with people who are positive and knowledgeable. I had bad experiences in the past where I went to the wrong people for advice.

5 Likes
14

Did he make you buy Fundsmith? :grin:

1 Like
15

Hehe. I do have a small position in FS which is probably his fault. But I’ve always been more of a gambler stockpicker.

EDIT: I checked and fundsmith had from inception in 2010 annualied return of over 13% so very good for anyone who invested and I know fmf convinced a lot of people to invest :slight_smile:

2 Likes
16

Can’t say if I benefited financially but I do get a lot of insights. Also helped me shape my portfolio over years as I am relatively new to this thing

17

This forum and the blog help me learned about

  • IBKR (twice 200usd in affiliation + low fees)
  • US ETF (VT) and WHT reclaim process (save 0,01% in performance / year).
  • I have also learned how to declare all my assets with Getax. So I must save 300 chf / year of fiduciaries fees.
  • staying invested with you and keeping to invest in ETF monthly
  • Unfortunately no 5 or 7 figures jackpot so far !
1 Like
18

Yes I‘m getting paid 2-3k/month for being here.

4 Likes
19

I knew your posts predicting market moves through timing your bonus were actually hooks planted by private banks to have us invest with them! :smiling_face_with_horns:

5 Likes
20

You’re definitely not a very good negotiator!