Introduction and question regarding net worth

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Hi all,

My name is Rob and I’m not living in Switzerland, but in a neighboring country ( :beer:).

I wanted to share my appreciation for this forum and it’s posters, there really a lot of very useful information available!

Short intro about my FIRE journey: I started getting interested in FIRE at an early age, but never really acted upon it - at least not the investing part of it. I guess the stock market is always a scary thing - even when my own parents invest it in (but they love to time the market - a habit that I’m slowly trying the change).

The saving and living below your means aspect has always seems logical to me, however, and that really aligned with my natural saver behavior.

Fast forward a decade, now at the ripe age of 30 I’ve slowly accumulated six-digits in assets (mostly equities and bonds) and am quite happy with my financial situation.

In the :beer: country, salaries are comparatively low, and taxes… well back-breaking. So all I will say is that I am in a average paying IT job.

However, I do manage to save 1,5K EURs a month, so that’s something.

Other than that, the only real things I worry about are: (1) mentally surviving the next big recession, and (2) the ridiculous capital gains taxes of my country.

Last but not least, the question I wanted to ask everybody: How has your networth evolved throughout the years during your FIRE journey?

I’ll start:

20 y.o. = >3K EUR in the bank, all cash
25 y.o. = 10K EUR in the bank, all cash
30 y.o. = >100K EUR in the bank, mostly equities, some bonds, little cash

Thanks for ready my (pretty average) story!

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Hi Rob and welcome! Always interesting to see how it is in other countries, is the capital gains tax that high in the :beer: country?.

If you haven’t seen this post already, highly recommend it and basically answers your question perfectly. :slight_smile:

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:beer: has very high capital gains tax… adding everything together it is almost 27%!

And there are discussion from some politicians to raise the CGT (Capital Gains Tax) to match your income tax… which means 30%. We’ll see if this actually happens… but looking at :wine_glass: country right now, I’m quite pessimistic on that.

Thanks for the recommendation, I will definitively look at that! It’s always good to have a comparison to other people in the same journey.

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I wonder what people from :pizza: country think about this discussion. And yeah, I don’t dare mentioning another country with nice food.

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