ImmersiveAmbientModecolor: #dadbd5 (color 1)
Video Format : 22 (720p) openh264 ( https://github.com/cisco/openh264) mp4a.40.2 | 44100Hz
Audio Format: Opus - Normalized audio
PokeTubeEncryptID: 30a6a2db534a4e57652aac6207ff0df1f9a666aa7382c53041331a704e274676ef5bc88ce9563ff1b6c21000abdc078b
Proxy : eu-proxy.poketube.fun - refresh the page to change the proxy location
Date : 1719147091285 - unknown on Apple WebKit
Mystery text : Q05pd3NkRHhhTHMgaSAgbG92ICB1IGV1LXByb3h5LnBva2V0dWJlLmZ1bg==
143 : true
1,922,992 Views ⢠Aug 8, 2021 ⢠Click to toggle off description
We are told that buying a home is the most powerful tool that ordinary people have for building wealth and you know what this is absolutely trueâŚ. In the United States.
In the US tax laws and banking regulations are designed to be very favorable to people who own homes⌠whereas in Switzerland the laws are much more favorable to people who own financial assets, specifically those purchased in retirement accounts.
The Swiss have what is known as the three-pillar pension scheme.
One of those pillars is a recurring contribution of up to 25% of someoneâs salary from employers into tax advantaged retirement accounts.
If you save and invest 25% of even a low income over an entire working career you are going to be very wealthy.
Despite having a similar national wage to people in the US a staggering one in ten Swiss Citizens are millionaires, and they overwhelmingly have retirement planning to thank for the honor.
#Shorts
___________________________________________________________________________
Link To "The Capitalists" Discord where I hang out with other creators - discord.gg/8MeNJ7gfSR
Views : 1,922,992
Genre: Education
Date of upload: Aug 8, 2021 ^^
Rating : 4.867 (2,304/66,839 LTDR)
96.67% of the users lieked the video!!
3.33% of the users dislieked the video!!
User score: 95.00- Overwhelmingly Positive
RYD date created : 2022-03-10T09:20:11.118988Z
See in json
YouTube Comments - 1,865 Comments
Top Comments of this video!! :3
Iâm a Swiss dual citizen, grew up there. Yes Swiss law allows middle class to live like rich people in our country. In Switzerland skills are taken very serious and are honored and respected with good salaries. Swiss government thrives to educate each and everyone with excellent working skills. Hardly anyone talks about millionaires or money in general. Education is 1st on the list. I realized how well and ahead I was on education when I came to America at only 21 yrs old. I was way way ahead of skills then any other worker in my field who were at least 20 to 30 years older. No kidding!!! So that makes the little country Switzerland so strong and successful bcsâŚâŚ the middle class is extremely driven high in that country and of course the government helps with all the needs for the middle class. I never felt poor in Switzerland verses here you are put immediately in a category of poor or rich!! America is destroying the middle class purposely and dishonors skills. Shame!!
2.2K |
I need a longer version of this please.
2.5K |
Nobody âownsâ their home. You can pay that mortgage off. But stop paying property taxes and youâll find yourself homeless real quick. We are all renters. You donât own anything youâre still making payments on.
1.5K |
I think "mandated" is not really compatible with the US culture.
1.4K |
Am swiss dude here. Our wages are realy hight and we have minimum wages for every job. If you work here you will always be able to rent a flat and live a good life. nobody here needs two jobs
289 |
Those unspecified gold piles of unknown origin don't hurt either.
615 |
This is why I think financial education could solve 50% of the problems that people have with the US
341 |
Pilar 3a (part of the third pilar, the private stuff) is also very beneficial. Mostly because of tax benefits (in that you can deduct all payments into it from your income) and some companies will match a certain amount per year. You can also use all the money in pilar 3a as a downpayment for a home you live in (not to rent it out though) which makes pilar 3a the best way to save for a home down the road.
240 |
I wish I could have put what I paid into social security towards index funds over the years. I'd be a millionaire. Highly doubt I'll get the same amount when I retire as folks today...
156 |
How you managed to cover so much in 1 minute is amazing. I love it. Bravo!
47 |
I so much love how you make it seems like all Swiss people are rich... Just by taking probably one of the most meaningless figure for such a small country. (by the way... how many are truely able to place it on a world map ?)
When you have less than 8 million citizens (so less than Los Angeles alone), and then you have a portion of that composed by very rich people, that completely disrupt such a figure.
Then you have indeed medium - high income people that indeed also counts a lot that net worth figure, in a country which relys mostly on tertiary sector (which is composed by a lot of services industries which tends to pay way more than primary and secondary sectors). And even then, when Switzerland is producing anything, it's usually high value high quality / precision goods. So a very decent part of population has indeed a very confortable income, and as such can indeed have some personal savings and a very decent living standard.
But yeah... you also forget to mention that we have a very high living cost. That we have to pay a mandatory medical insurance and that one can cost you more than $300 per month.
So when you have foreigners that comes in Switzerland, thinking they wil get rich because "all" Swiss people are rich, then they take a serious hit in the face, because a lot of them are not educated or trained to get the high value jobs, and they also don't imagine having to pay a $1200 per month RENT for 2 bedroom appartement. And they will then need to work hard just to be able to barely cover all the living costs.
"ALL" Swiss citizens are rich is a TOTAL MYTH that a lot of people not living in Switzerland tends to carry over just with plain numbers thinking it matches reality.
So when you are truely living in Switzerland, yeah I recon we have a pretty decent living standard, with a lot of positives, which, to me, makes it fine to live here.
But don't be fooled... there are a lot of honnest people that work hard and truely struggle to make it to the end of the month and have to count every penny. Like everywhere in the world.
390 |
So basically, the Swiss use pensions while in North America we use real estate which completely fucks over people looking to buy for the first time.
23 |
In the us we put in 13% of our earning into social security so we should be quite wealthy as well. The issue is our government just fucks us out of this investment.
58 |
Having studied there for 5 years was a dream come true, if only more countries could copy how the Swiss govern the world would be a better place.
6 |
Weather you own a home or you rent , you're still a slave to payment.
6 |
Well, that was short and precise
36 |
They also have a very strong and stable currency, their wealth is not constantly being stolen by inflation.
8 |
In America, owning land was so coveted at one time it was a requirement to vote.
21 |
BEWARE OF THE HEADLINE: Also account that the Swiss Franc has risen by almost 100% against the US Dollar in the past 20years; which in US Dollar terms is a doubling of value. It has also risen against the Euro by 80% in the past 10 years. What does this all mean? That most of the wealth is imported.
40 |
@crazyhorse562
2 years ago
I don't know much about Switzerland, but the flag is a big plus.
4.9K |