Hi all, I’ve been following FIRE related media for a few years, lazily and haphazardly following the mustachian approach. Very glad to find a Swiss-focused community. I’d like to now try and get everything in order much more as I plan for the future.
This is because this year my employer has been sold, triggering the sale of stock options I held. I expect my income this year to be around 900k CHF, pre-tax. I’m super fortunate to be in this position.
Of course, tax needs to be paid (in Geneva, marginal rate around 48%). I don’t think I have many options to reduce tax, but one suggestion is to repurchase as much of my 2nd pillar as possible. Given the high marginal rate, is this a no-brainer?
I’m 31, British but hoping to stay in Switzerland for the long term, here 4 years so far. Part of wanting to get my finances in order is that I might leave my job in the coming year, and consider pursuing something entrepreneurial instead.
As for my assets, I have about £140k in the UK, 250k CHF and 650k USD here in Switzerland spread across bank and brokerage accounts (the USD is from the options sale, all cash right now as I decide what to do with it, noting a large chunk needs to go to the tax office). Plus pensions that I need to sort out. Currently renting, but I might consider buying in the next 5 years (depends on how that entrepreneurial dream interacts with home ownership).
Does repurchasing as much as possible make sense right now? Is there anything else I should be doing before the year is out? And anything else I should consider going forward?