How Can I Reach My Saving Goals in Switzerland

What is the best way to go about reaching my savings goals while living in Switzerland?

Hi there,

There are two important factors to consider when making a savings plan. The first is calculating your savings goal based on the amount you can afford to save. The second is decising which investment vehicle you want to use to reach your savings goal.

You can easily calculate how much you need to save in order to reach a savings goal using the comprehensive savings calculator on moneyland.ch. The calculator lets you make many different savings calculations.

For example, you can enter the initial amount you can afford to save, the target amount that you would like to end up with, the amount you plan to set aside regularly and the interest rate at which you expect to earn interest on your savings in order to find how long it will take to reach your financial goal.

You can also calculate how much you will need to save regularly (monthly, for example) in order to reach your target.

Simulating various saving scenarios using the calculator can help provide you with a realistic basis on which to build a savings plan.

Deciding which investments to make in order to reach a savings goal requires more caution because it depends on what your goal is and what you can realistically afford to invest. If an investment requires that you make investments of 500 francs per month over a 3-year term, you will need to be confident that you can afford to invest that amount over the full term.

Savings growth will depend largely on the yields earned - from the conservative interest rates paid out by savings accounts (low risk but low interest) and 3a retirement accounts (low risk, slightly better interest than savings accounts, limited withdrawals) to the dividends paid out by stocks and ETFs (chance of high returns but high risk).

Best regards from Moneyguru

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