Use the wisdom of the ancient Greeks to optimise your wealth

Chronos and Kairos are two concepts of time used by the ancient Greeks; the former refers of course to chronological time, the latter to seizing the opportune moment (that which often eludes us in our busy lives today)…

 In life there are times:

-        when things go well,

-        others when things go badly (including the “F@#k Ups”) and

-        still others when we simply miss opportunities to succeed.

We all know we should give thanks for the good times and build our resilience to see us through the bad times; but how often do you reflect on the good fortune that escapes you? If you’re wondering what the ancient Greek Kairus, seizing the opportune moment, has to do with your wealth, then read on for an indirect return on investment of over 30%…

 In just a couple of weeks the end of year festivities will be in full swing; seize the opportunity now to give yourself the means to end the year in a wealthier position. For employees in Switzerland, in most cases, it’s possible to add savings to a pension second pillar; doing so now will generally reduce your income tax in 2020 by over 30%. More specifically, employees earning over 127 980 CHF per year, have an ideal opportunity to leverage their second pillar; the latter generally represents the main part of their savings, yet it is the part they neglect most. Entrepreneurs without a 2nd pillar are able to save up to 20% of their annual revenues in the 3rd pillar to the limit of 34 128 CHF; it’s the time of year when you may need to optimise these savings. Follow our personalised advice depending on your individual circumstances, by transferring a small sum of spare cash from short to long term savings, you generate a quasi-immediate, significant, tax reduction and a long-term saving.

 Missed opportunities are increasingly common in the field of personal finances: international professionals tend to invest almost all their time and energy in the businesses where they work, often under considerable professional pressure. As the months and years pass by in a whirlwind of meetings and projects, people miss the opportunity to ensure that the money they work so hard to earn is working for them in return, for their long-term financial wellness and for that of their families. In parallel prosperity is challenged; bonusses and salaries are restricted in many cases, retirement remuneration is negatively impacted by evolving demographic and economic conditions, the average tax payer’s contributions to our society seem to rise incessantly.

 So think of Kairus and seize the moment to help yourself, before you treat others this Christmas. In this complex economic climate, it has never been more important to get personal advice, appropriate for your individual circumstances and projects, to optimise your wealth either through tax efficient planning, financial restructuring, or business measures.

 At Piguet Galland, we offer you the opportunity to ensure that your personal finances are balanced to support you throughout your life projects, so tell us where you’d like to start; we’ll help you seize the moment and set your wealth to work for you.