Dr Quasar journey to FIRE


#21

25’000 for AHV? :flushed:
Using the 5% u earn almost half a million p.a. :+1::stuck_out_tongue_winking_eye:


#22

OK, I guess it’s more like 22’000 (11’000 + 11’000). 12.5%, 6.25% employee, 6.25% employer. IMO the employer/employee split is bullshit. Doesn’t matter who pays it.


#23

Ah ok. U are right, I forgot the employer contribution. I agree, that is simply somewhat “hidden” and should be added to “your” contribution.


#24

@ 1000000CH Thank you for taking time to give me some feedback on the various costs. For now I’m going to update the car insurance, since it’s of no use to have such a large cover if we plan to stop owning a car in the future.

Thanks everybody too for your opinion.

Some comments (with two small kids I don’t have enough time in the evening :sweat:)

Health: I guess it can’t get much lower. Me and my wife have a private cover (with a 5’000 deductible) and the kids have a dental cover in case they will need orthodontics.

Taxes: I can pay some money in my 2nd pillar since I have a big gap (worked abroad several years) and put some money in tax free investments. The wealth tax is the one most hurting, it eats o.xx% of the full amount every year!

Groceries: I feel here lie some space for cost reduction. Most of the shopping is done by my wife. Although price conscious, she could go more to Aldi. My plan is to show her how cheaper are most things we usually buy. Last time I showed her that milk costs about 0.30 less at Aldi (whatever category: bio, normal, UHT). She calculated that it would be 1.50 francs per week / 78 francs per year and said it doesn’t worth going to Aldi for 78 francs. I’ll continue with bananas (popular item here), Emmental and Parmesan cheese. Maybe if I can find 500 francs she will agree ! Anybody has some stories about convincing his/her spouse?

NATEL: 1’010.75
This is the sum for two phones. Mine and my wife. She sometimes bought bus tickets with her phone so it’s not really all phone costs. We have Sunrise for 70 francs fixed costs, the rest is various costs mostly beacause my wife used to buy bus tickets with her phone.

Insurance details:
|1’692.50|car insurance|
|370.80|life insurance|
|341.35|home insurance|
|314.00|juridic insurance|
|47.90|fire insurance|
We can trim down the car insurance and maybe drop the life insurance altogether now that we have some stash. If I put extra money in the 2nd pillar this can replace life insurance since my wife and kids can get it back (plus some interest).

Clothing: unfortunately I work in finance and need to wear a suit, tie, etc. every weekday. I fear I use more money for clothing than my wife or the kids (who get a lot from bigger friends).

Other non-food includes beer & wine, toys, items for drawing/painting, making things with the kids (soap, candles, woodwork, etc.), perfume, a few books.

Fun 1’010.41 is mostly eating out, including while on holidays or visiting zoo/museums with the kids.


#25

15000 for health is only insurance or also doctors and stuff?
If just insurance, I didn’t know it was possible to pay that much just for it. Did you check comparis.ch?

Natel: 70chf is 35chf/person? You can lower it to 29chf/person.

Regarding Groceries, I think you should sit down with your wife and start talking about your future. It looks like she doesn’t really agree with your goals. I don’t remember if you are the only earner in your family, but it seems so.


#26

Hi there, not so much progress although the recent drop in stocks price will allow me to buy dividend stocks at cheaper prices. It’s getting exciting. Time to quote Warren Buffett “when everybody is greedy be fearful, when everybody is fearful by greedy”.

My way of balancing things is I keep 25% of my investment money in cash (I don’t reinvest dividends, keep the spared money on the saving account, etc). When the stocks value gets down I buy some more to keep them at 75% of the total.

On another front, the wife agreed to go to Aldi (no Lidl here) at least half of the time. One of her friend told her it’s about 30% cheaper than Migroop (or Cogros as you wish). I don’t know why but she believes her friends more than her own husband !:face_with_raised_eyebrow:


#27

Hi there, time for the October wrap up !

Saving rate is very low and bad this month: car maintenance, veterinarian and a week-end trip to Alsace took a heavy toll. On top of this usual spending was a bit higher than usual. No more than 10% savings.

Groceries should come lower from next month at The Wife went several times to Aldi and was quite impressed by the difference on several products. She definitely is going to shop much less at Migroop.

Shocking news on insurances! I decided to lower them and asked several changes. Since we now live downtown I don’t drive that much and told them The Wife is the main driver from now on. They told me since she’s not Swiss it will cost more about + 100.- (yearly)! I wanted to lower the insured amount for the household insurance and the guy told me not to under insured as it would cost me a lot in case I had a claim. Basically I was going to save 50.- (yearly) but, for him, with a heavy risk. I still think I’m going to lower it.

The next day I read in a consumer magazine (Bon à Savoir) that passenger insurance (something inside your car insurance) is basically useless since if you have an accident either you are responsible and your liability insurance kicks in or the other driver is responsible and his/her insurance kicks in. According to the magazine, insurance companies get about 12 X what they spend on this passengers insurance thing. The only case in which it can be useful is if you insure for more than regular requirements. For example with a daily amount for every injured person.

Great news! I discovered that my employer has some contracts with Sunrise and I could get a heavy discount. Instead of 75.- month for two phones, I’ll pay 52.- from now on.

Slightly good news on tax front since Kanton Vaud is going to raise the health insurance deductible from net year and reduce the tax rate. It is still much higher than tax rates in the German Swiss part but still encouraging.

Finally some shocking news on investments. My best dividend performer is getting bought out. The new company is paying less dividend so although I did some new investments, my global dividend income is not getting any higher this month.


#28

my iPhone 6plus is now over 4 years old, still runnng. should it crash, I would get the 2nd most recent top-line model…