I moved our Pillar 3A accounts to Finpension

Hi dear RIP friends, last week I completed the 3 post series on “trolling a financial advisor”.

The “season finale” was about how not to fall for an Insurance Policy Pillar 3A, and how to identify snake oil salesman tactics.

Today I’m going to show you better alternatives available for your Pillar 3A, and I’m also going to tell you what I’ve done with my and my wife’s Pillar 3As.

Before we even start: I’m not going to tell you yet another time what’s a Pillar 3A, I assume you know about it. This post is probably only useful for Swiss residents, so if you’re not living and, more importantly, paying taxes in Switzerland see you on Monday January 4th, 2021 for the first MLJ 😉

Enjoy!

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Trolling my first “Financial Advisor” Part 3 of 3 – Insurance Policy Pillar 3AB

Hi RIP Friends,

This is the third and last post in a short three posts series about my experience with a Financial Advisor.

Your can read first post here, where I explained how I was cold contacted by her assistant on LinkedIn, and what happened during our first 1h-long video call.

You can also read the second post here, where I analyzed the two Structured Notes that she thought would have been the perfect investments for a risk averse person like “me”.

In this third post we’ll take a look at her final weapon: a Pillar 3A/B with a linked Insurance Policy.

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Trolling my first “Financial Advisor” Part 2 of 3 – Structured Notes

Hi RIP Friends,

This is the second post in a short three posts series about my experience with a Financial Advisor. Your can read first post here, where I explained how I was cold contacted on LinkedIn, and what happened during our first 1h-long video call.

The Advisor sent two Structured Notes factsheets to me few weeks after our call.

I won’t tell you much about my conversation with the Advisor like I did in the previous post, it wasn’t a deep conversation. I showed my perplexities to the Advisor in our follow-up meeting and she quickly moved on trying to sell my the next crappy product, the Insurance Policy Pillar 3A/B that we’ll see in next chapter.

I kind of regret having been so direct with her in this second meeting. I would have loved to see the Prospect documents, shame on me for not having gone for it. This post would have been much richer if I had gone close to sign a concrete proposal.

Anyway, I how you enjoy this deep analysis of the Structured Products I’ve ben offered.

Have fun, and let’s get started! 🙂

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Trolling my first “Financial Advisor” Part 1 of 3 – First Contact

Hi RIP friends,

I got contacted by a financial advisor via LinkedIn out of the blue three months ago. We interacted for a while, and I’m now ready to share this experience with you: the why, the how, and the what (crappy products) they tried to sell me.

To keep things manageable I’ve split this post in three parts. In the first part (this post) I’ll show you their approach, their analysis of my finances, and their marketing tactics. In the Second part we will take a closer look at the first crappy products (Structured Notes) they wanted to sell me. In the third and final part we will destroy the second crappy product (an Insurance based Pillar 3A-3B) they wanted to sell me.

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Everybody in Switzerland can retire in 10 years!

“RIP, wake up” Holy sheet, again? Is there another thing about me out in the wild I should care about? “Of course…” Is it about the newspaper interview? Are haters coming? Btw didn’t we agree that you’re Rico Pelli? So it’s your job to handle them. See you bye bye

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Defined benefits Lump Sum Value

Hi readers, I recently read an article by Michael Kitces I’d like to share and act upon it. But before we get to the dinner table, who the hell is Michael Kitces? Michael is a cool person I don’t have the pleasure to have met but I’d love to. He

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Lump Sum Tax on Pillar 2 & 3 – Kapitalauszahlungssteuer

Gruezi RIP Freunde, Welcome back to the Switzerland series! Today questions are: when and how will my Pillar 2 & 3 be taxed? We’ve took a look at the Swiss Pension System in a previous post. We’ve seen how Pillar 1, 2 and 3(a) work. We’ve seen that Pillar 2 & 3a are

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Unemployment in Switzerland

Hi RIP friends, Today we have the first guest post on this blog! I asked a close friend of RIP family to write something about being unemployed in Switzerland. This post fits in the Switzerland series, where we discuss how’s life and work (and the lack of it) in Switzerland. So…

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Swiss Pension System a.k.a. Pillars for dummies and immigrants

Gruezi RIP Freunde, This very long post is about the Swiss Pension System, with special attention to information for immigrants. Let’s ask the main question: when and how are you suppose to retire in Switzerland? In Switzerland you usually start working very early. Legal minimum depends on the kind of job

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