Revoil's Journey to FI

#1

Hi Everyone,
I have been lurking for a few weeks on the forum and decided finally to take the first step to introduce myself after already contributing to a few topics here. I am a 28 year old German living in Aargau (the last 2 years; previously 5 years in Zurich) and I just started working for a large software company in Zurich after having been in a small sized business the last 3 years. My new job comes with a sizeable income increase and I plan on not spending one rappen more than I already am (actually I hope to reduce my expenses even more). This means I can really turbo-charge my journey to FIRE. I am especially interested in complete plans that others have for their retirement; i.e. how best to organize all the different tax-deductable and tax-deferred accounts in Switzerland to maximize the rate of return and how best to allocate excess finances in the markets.

I will update this post with a summary of my performance over the last few years as soon as I get around to creating an end of year report in some form (I have been budgetting with GNUCash since 01-01-2015; did it a few years before that also but took a naughty break which messed up my calculations in 2014). So if you need advice about it, feel free to contact me (I have setup up the stock price addon in Windows successfully).

One of my biggest questions right now is what will happen after I apply for and get my C-permit this year. I am trying to read and understand all the information on the various Kantonal websites, but it is a bit confusing to me. For instance, do you continue to pay tax at source once you have a C-permit? I know that I will have to fill out a tax sheet like a real Swiss next year :slight_smile: but that would have anyone been required due to the new job anyway :yum:

I’m looking forward to exchanging information about FI with you fine folks on this forum. I would also be interested in developing some scripts to use financial APIs if anyone has some good resources to share (I would gladly contribute them back to the community)

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#2

Hi Revoil and welcome here!

Nice to see other software developers around :slight_smile:

Regarding your question on taxation and C permit, as far as I know you have to make a regular tax declaration (i.e you are not subject to Quellensteuer) if :
-You earn more than 120k CHF/year in taxable income

Regarding tax-deferred/deductable accounts, I would say it is much less complicated as in the US and it boils down to two factors :
-Capital gains on the stock market are not taxed (for me this is the most important)
-Choose if you want a 3a pillar, and if yes, which one. This depends a lot of your investing strategy.

Finally, regarding available APIs, you should be able to do nice things with the two following :
-The Yahoo finance API, which should allow you to get easily market data like price, shares outstanding and so on


-The SEC API, that allows you to query any financial report of a company listed on US markets :
http://developer.edgar-online.com/docs

They both are free and usually I don’t need much more to create my diy apps :slight_smile:

#3

Welcome!
now i know i am not the only gnu-cashing mustachian here, great!
looking forward to some interesting disussions :slight_smile:

when you have C permit, you will get a tax bill according to your declarations. Better do them, otherwise the finanzamt makes assumptions that are not quite beneficial for you^^

And yes, you need to put aside the expected tax funds until the bill arrives. Afaik you can also do early payments, but i am no expert here.

#4

@Revoil
@Gnucash: do you run this on windows? did you get the quote package to work? i didnt :frowning:

#5

Yea I got it to work on Windows although it does not work for all tickers/ISIN. I just followed the installation instructions here:
https://www.gnucash.org/docs/v2.6/C/gnucash-guide/invest-stockprice1.html#invest-stockprice-auto2

To add a symbol to retrieve, just go to the securities editor in the tools menu, then click “Add” and set it up like you see below for SIX:VWRL

Then, to update the first go to “Tools”->“Price Editor” and click the “Get Quotes” button. Then refresh your porfolio to see the changes. :slight_smile:

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