The risk of saving too much for a 'later' that never happens

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22

Maybe i missed it in the answers of others, but I’m surprised nobody mentioned or is aware of the Children’s obligation towards parents

The duty to support among relatives is regulated in Article 328 of the Swiss Civil Code. It states: “Anyone living in favorable circumstances is obliged to support relatives in the ascending and descending lines who would be in need without this assistance”

https://www.invethos.ch/onlinemagazin/en/do-children-have-to-support-their-parents-financially

So yeah that’s a big component for your question…and makes people think twice before enjoying life and spending all money… Do you want to be a burden for your children?

This is also why the system sort of works and not everyone is just burning through their savings.

Hope it helps putting things into perspective, but of course some life enjoyments are needed, i also travel more and spend more on life experiences cause i know later i won’t necessarily be able :wink:

23

Even though the article states the regulation, I cannot imagine that this has anything to do with people not spending enough.

It’s cultural.
In US lot of people are in debt. In Switzerland perhaps it’s not part of culture to have lot of debt

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24

But who does this apply to? Swiss? Those living in Switzerland? What if your kids leave Switzerland?

25

RE debt is in our veins because of banking influence/lobbying and favoring tax legislation.

26

but how many people own houses in CH anyways?
Isn’t the number like 30-40%?

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