I am wondering if I should include the Pillar 2 and Pillar 3a contributions (including the match from employer) in my savings rate calculation. These could be treated as Bonds component of the portfolio correct? In the US people typically consider 401k and IRA contributions also into their FIRE stash calculation based on what I have seen on various forums
So Savings Rate Could be = [Net Income (after taxes and social contribution) + Pillar 2a + Pillar 3a - Expenses] / [Net Income + Pillar 2a + Pillar 3a ]
Or it should be treated as [Net Income - Expenses] / Net Income
Would be interesting to understand which is better way to account for savings rate? The first method definitely boosts the Savings Rate.