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April 12, 2017

For Easter, don't put all your eggs in one basket

For Easter, don't put all your eggs in one basket

As the popular proverb goes, it is best not to put all your eggs in one basket, risking everything on the outcome of a single opportunity.

While this recommendation applies perfectly to risky financial investments, it can also be extended to making profit from savings accounts. By placing the money you save into different savings accounts, you can potentially increase your returns.

 

 

Savings available for short-term projects


For short-term plans such as holidays, or to deal with an unexpected expense, it is important to keep some money in a classic savings account from which you can withdraw money at any time.

This type of savings account does not pay the most interest, but it has the advantage of giving you access to your cash when you need it.

 

 

Effective saving for medium-term projects


For medium-term projects, such as a large purchase or a real estate project, you can opt for a locked-in savings account over a certain period of time that will provide you with a better return.

There are different types of savings accounts that can be tailored to your needs. Some accounts offer, for example, a higher interest rate for those building up own their funds in order to be able to purchase a home.

Please do not hesitate to compare the conditions of savings accounts to find the one that best fits your plans.

 

 

Effective pension saving for long-term projects


Putting money aside is a way of planning for the longer term, especially retirement.

In this case, a 3rd pillar A savings account will enable you to gradually build up capital for the moment when you stop working, while benefiting from a lower interest rate than a traditional savings account, as well as tax benefits.

Each year, it is possible to deduct the amounts paid into your 3rd pillar A account from your taxable income.1

 

 

 

 

Do you have any questions? Would you like more information about a particular subject?
Please e-mail us your comments on this article to communication@ca-financements.ch



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1 The deductible amount is capped. In 2017, payment into a 3rd pillar A pension plan is limited to CHF 6,768 for employees. Those who are self-employed and without a pension scheme are limited to 20% of their annual revenue (subject to a limit of CHF 33,840).
Images: ©lavju83 and ©Bozena Fulawka | Fotolia
October 16, 2018

What are the advantages of partial consolidation?

A construction loan changes into a mortgage loan once the building work has been completed, but it is possible before that to carry out a partial consolidation, and there are some advantages to doing so.
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