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Baptiste Wicht

Baptiste Wicht

Baptiste Wicht is the author behind thepoorswiss.com. In 2017, he realized that he was falling into the trap of lifestyle inflation. He decided to cut on his expenses and increase his income. This blog is relating his story and findings. In 2019, he is saving more than 50% of his income. He made it a goal to reach Financial Independence.

Articles by Baptiste Wicht

Swissquote vs Interactive Brokers

28 days ago

(Disclosure: Some of the links below may be affiliate links)
Interactive Brokers is my favorite foreign broker, and Swissquote is my favorite Swiss broker. Both brokers are very well known and have a good reputation.
So, it is time to compare Swissquote vs Interactive Brokers in detail. In this article, I look at their fees, features, and usability. We also look at the user reviews for these two tools.

Best foreign broker

Best Swiss Broker

5.0

4.5

Start investing!

Invest with the MKT_THEPOORSWISS code

My Review

My Review

Best foreign broker

5.0

Start investing!

My Review

Best Swiss Broker

4.5

Invest with

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How do commission-free brokers make money?

August 23, 2022

(Disclosure: Some of the links below may be affiliate links)
These last few years, we have seen more and more commission-free brokers pop up. At first sight, they look great. Who would not want to pay fewer transaction fees?
But usually, if something is too good to be true, that is because it is! How do these commission-free brokers make money if they do not charge anything?
We discuss that exact question in this article! By the end of this article, you will know how these brokers make money and whether that is good for you or not!

Commission-Free brokers
Over the last decade, many commission-free brokers have entered the market. Even some big names in the industry have started offering commission-free trading on their platform.
You have probably heard of Robinhood. This broker has

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How much of a raise can you spend?

August 16, 2022

(Disclosure: Some of the links below may be affiliate links)
We all like getting raises at work! It always feels great to know your work is recognized, and you will get paid more.
But is a raise that important for your financial independence? And how much of a raise can you afford to spend?
In this article, I answer these questions through several examples. At the end of the article, you will know exactly how much of a save you should save!

Impacts of a raise
Before we start, when I talk about raises in this article, I talk about any increased income. This could be a raise at work, a new side hustle, or some extra allowance. They all impact you in the same way.
The first impact is that you get more money every month. When you get a raise, your income increases. You are free to save that

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Migros Cumulus Visa Credit Card Review 2022

August 9, 2022

(Disclosure: Some of the links below may be affiliate links)
After stopping its partnership with Cembra, Migros Bank introduced its new credit card: The Cumulus Visa credit card.
Since the Cumulus Mastercard from Cembra was one of the best credit cards available, we need to look at this new Cumulus Visa credit card.
By the end of this review, you will know whether you should use this new Cumulus Visa credit card by Migros Bank.

The fall of the Cumulus Mastercard
As you may know, Cembra was issuing the Cumulus Mastercard until recently. It was an excellent credit card, and I have used it for several years.
But things changed in May 2022 when Migros announced the end of this 15-year partnership. Indeed, Migros decided that Migros Bank would issue a new Cumulus credit card directly. The old

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July 2022 -Another hot month

August 2, 2022

(Disclosure: Some of the links below may be affiliate links)
July 2022 was a pretty standard month for us, at least on the financial side. It was once again a scorching month, too hot for me.
But we still managed to see friends and family and have an excellent time. Financially, we are back to a standard month and saved about 50% of our income.
So, let’s see in detail what happened to us during the hot month of July 2022.

July 2022
July 2022 was a good month. We did not have many events, but we had pleasant times. We met many friends and family members on two separate occasions. The first half of the month was way too hot, but the end of the month finally cooled down, which is excellent.
However, I am having a hard time with the heat. And given that we will not be able to slow global

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I use budgetwarrior for my budget and net worth

July 26, 2022

(Disclosure: Some of the links below may be affiliate links)
I have talked a lot about budget and net worth on this blog. Now, it is time to talk about which budget application I am using to track my budget and net worth.
I am using a simple tool for doing these two tasks. I also use the tool to generate the graphs in my monthly reports.
While many people in the personal finance community use Personal Capital, Mint, or Quicken, I use a little-known tool called budgetwarrior. I wrote this application myself.
This article presents this tool and how I use it to track my finances.

budgetwarrior
budgetwarrior started as a simple console application to manage my budget. I started this application in June 2013. Before, I used a simple spreadsheet for my budget. I was looking for a new personal

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Trading 212 Review – Pros & Cons

July 19, 2022

(Disclosure: Some of the links below may be affiliate links)
Trading 212 is a European broker that offers commission-free trading on many stock exchanges. Many of you have asked my opinion about this broker.
So, today, I review Trading 212 in-depth, with its fees, features, and security. By the end of the review, you will know whether Trading 212 is a good choice for you to invest with.

Trading 212
Trading 212 LogoTrading 212 was established in Bulgaria in 2004. They later moved to England but kept their entity in Bulgaria. They now have several entities (UK, Bulgaria, and Cyprus).
Although they have been around for a while, the platform only became well-known with the introduction of its commission-free structure.
As of 2022, they claim about 1.5 million users, most of them created

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Certo! One Mastercard World Review 2022

July 12, 2022

(Disclosure: Some of the links below may be affiliate links)
Cembra is a well-known credit card provider in Switzerland. They are primarily known for their Cumulus card with a good cashback. After stopping this card, they started a new set of cards: The Certo One Mastercard World and the Certo Mastercard World.
And these cards look even better than the last card from Cembra. So, let’s delve into the details of these two cards and see how interesting they are.
By the end of this review, you will know whether you should use one of these new cards from Cembra.

The end of the Cumulus Card
Until recently, Cembra issued the Cumulus Mastercard, an excellent free credit card in Switzerland. I have used this card for several years.
However, in May 2022, Migros Bank announced they would issue

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June 2022 – Taxes and heat

July 5, 2022

(Disclosure: Some of the links below may be affiliate links)
I can summarise June 2022 in two extremes: heat and taxes.
It has been too hot this month. I do not handle heat well, so it has been hard for me, especially adding on top of sleep deprivation.
As for taxes, as I expected, we did not pay enough last year. Our income increased significantly but not the prepayment. So, we are left with more than 10K taxes from last year. I was a bit surprised by the amount. I was expecting less than that.
Aside from these two points, I would say it has been a routine month. So, let’s see in detail what happened.

June 2022
During the month, we had a big heat wave. I dislike heat, so it was not the best part of the month. I am thrilled to work at home since my home office is much colder than the

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Early retiree in Switzerland – Dror’s Story

June 28, 2022

(Disclosure: Some of the links below may be affiliate links)
Most of the time, when we hear stories of early retirees, they are all living in countries where the cost of living is much lower than in Switzerland. But recently, I have had the chance to interview an early retiree in Switzerland!
Dror has retired in Switzerland in 2021 at the age of 46. His story is very interesting, in that he is one of the first early retirees I have had the chance to talk with.
Without further ado, here is the story of Dror Allouche, an early retiree in Switzerland!

Tell us a little about yourself
My name is Dror. I am 46 years old. I was born in Switzerland, but I grew up in France.
I have two young children and a wonderful wife. We live in the heights, 20 minutes from Zurich.
Since when are you early

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Charles Schwab International Review – Pros & Cons

June 21, 2022

(Disclosure: Some of the links below may be affiliate links)
Charles Schwab is a giant financial firm in the United States. Among other services, they offer stock broker services. And through Charles Schwab International, they are open to non-US residents.
Many of my readers have requested that I write about it. Therefore, I will review Charles Schwab International from the point of view of a Swiss investor. We will how much it costs to invest with Charles Schwab International and the advantages and disadvantages.
I am only going to focus on their offer for non-US residents. They also offer their platform for US investors under slightly different conditions.

Charles Schwab International
Charles Schwab is both a bank and a stock broker. The company was founded in 1971 and had a rich

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Just Keep Buying – Book Review

June 14, 2022

(Disclosure: Some of the links below may be affiliate links)
I have not done a book review in a long time on this blog. I felt like most books did not deserve to be talked about. However, I felt like Just Keep Buying, from Nick Maggiulli, deserved to be talked about.
In this article, I will review this book, what I liked and what I did not like. By the end of the book review, you should know whether you want to read that book or not.

Just Keep Buying
The book’s title already tells the main investing principle that this book is about. If you want to build wealth, you should always keep buying, regardless of the state of the stock market. But we will come back to that.
Nick Maggiuli is the author being the Of Dollars And Data blog, an excellent blog about investing and personal finance

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May 2022 – Another month goes by

June 7, 2022

(Disclosure: Some of the links below may be affiliate links)
May 2022 was a good month. We had a nice time in the lovely weather. The first half of the month almost felt like summer. I even started wishing for colder temperatures (which I got in the second half of the month).
Financially, it was a good month for our savings rate. However, it was a bad month for our net worth because of the wild stock market. Even though we saved a considerable amount of money, our net worth decreased compared to last month.

May 2022
Overall, May 2022 was a good month, a little more active than the previous ones. We had several dinners and lunches with families and friends. And we also did a few things, the three of us.
It is great to see our son growing and learning things. He is a little different every

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When is Mobility cheaper than owning a car?

May 24, 2022

(Disclosure: Some of the links below may be affiliate links)
I have talked about car costs a few times already on this blog. However, I have never written about Mobility.
Mobility is a Swiss car-sharing cooperative. Mobility has a large fleet of cars in Switzerland. Mobility users can then use these cars when they need them and do not need to own a car.
Is Mobility actually cheaper than owning your car? Let’s find out!

Mobility carsharing
Mobility carsharing is a cooperative with more than 3000 cars in Switzerland. The principle is straightforward:
you reserve a car
you get a vehicle at one of their dedicated parking spots
you drive wherever you want
you fill the fuel tank (using the Mobility card)
you deposit the vehicle in one of their dedicated parking spots (not necessarily the one

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A few ways to simplify our life

May 17, 2022

(Disclosure: Some of the links below may be affiliate links)
Recently, I realized that too much optimization of our finances was creating complexity that I did not want anymore. Optimization of finances is about balance.
Until recently, we were optimizing for the best price. Now, we are trying to make our finances simpler in a few ways. In this article, I will discuss what we are planning to do.

Optimization is all about balance
Sometimes, it is essential to realize that optimization for the best price often has a downside. Basic optimization is generally good. But when you overoptimize for prices, you give up something else.
For instance, if you have three different payment cards, you introduce complexity to each of your payments. You have to think about which card you want to use for

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Simplewealth Review 2022 – Pros & Cons

May 10, 2022

(Disclosure: Some of the links below may be affiliate links)
It is time for yet another Robo-advisor review. Simplewealth is a Swiss Robo-advisor that aims to be affordable, transparent, and easy to use.
This review will analyze Simplewealth in detail: its pros and cons, its fees and strategies. By the end of the article, you will know whether you should use Simplewealth for your investing.

Simplewealth
Simplewealth LogoSimplewealth was born in 2015 from the minds of Jeremy Cohen and Adrien Wegschiede. They then obtained authorization to manage client funds in 2017 under Swiss regulations. 
In 2020, the company was bought by private investors and taken private. These investors significantly boosted the service with new algorithms, new features, and better fees.
One interesting point is

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April 2022 – A good month

May 3, 2022

April 2022 was a good month. We had a few pleasant events with our friends and family. It was not very eventful, but we had time to work on a few late things, which is excellent since we have very little free time these days. On the financial side, it was a great month with …

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The costs of daycare in Switzerland

April 26, 2022

Daycare is a large portion of the budget for many people in Switzerland. Indeed, daycare can become quite expensive quickly, especially if you have several children. So far, we have not put our son in daycare, but we think we may do it next year. So, I wanted to delve into the costs of daycare …

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January 2022 – A poor start of the year

February 1, 2022

(Disclosure: Some of the links below may be affiliate links)
January 2022 did not start as well as we would have liked. We went back in quarantine after contact with somebody that turned out COVID positive, and Mrs. The Poor Swiss and Baby Poor Swiss had dome symptoms. But everybody is fine now!
We had to cancel plenty of things and refuse help when we would have needed it. This month was definitely not good for morale.
From a financial point of view, it was a great month with standard expenses and high income.

January 2022
Very early in the month, we got in contact with someone positive. We took precautions. The person did several auto-tests the days before and was three times vaccinated. But a few days later, we received a call telling us she was positive.
So, even though we were not

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2022 Goals and 2021 Goals Review

January 25, 2022

(Disclosure: Some of the links below may be affiliate links)
At the end of each year, I review my goals and plan the following year. And to keep me accountable, I publish them on this blog and follow them month after month.
I will do a single article for the review and the new goals this year. I think it is more digestible that way.
So, in this article, I will review my 2021 goals and their progress, what went well, and what did not go well. And then, I am going to show and explain my 2022 goals.

2021 Goals Review
As a reminder, here is the state of our goals at the end of 2021:
Our Goals as of December 2021Overall, our progress towards these goals went well. We failed some goals, some because of me, and others were poor goals.
So, let’s go over the details of each goal and how it went,

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How to invest with high inflation?

January 18, 2022

(Disclosure: Some of the links below may be affiliate links)
Recently, inflation has started to climb again, especially in the United States. And many investors are worried about what this will do to their investments.
So, I want to talk about what we should do to our investments when inflation rises and what assets classes perform best when prices increase.

The return of inflation
First, let’s not forget that inflation never went anywhere. In the united states, like in most countries, inflation has been positive every year in the last two decades.
The change right now is that the United States published a 6.8% in December 2021. You can read about this in the official news release. It means that the prices of a given basket of items increased by 6.8% over one year. 6.8% is a significant

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The cost of owning our house after a year

January 11, 2022

(Disclosure: Some of the links below may be affiliate links)
Many people are wondering how much is our house costing us. But, it was difficult to answer that question before we lived inside for a while.
After one year spent in our house, I want to summarize all the fees we have paid. I am only going to compare what changed. For instance, we still pay about the same electricity as before, so this does not change. But heating is different, and we have to pay for water, for instance.
Hopefully, this will be useful for people wondering how much it costs to live in an owned house.

One-Time Expenses
First, I want to cover one-time expenses. These are expenses related to the purchase of the house. We will not have to pay these expenses again unless we buy a new place.
Withdrawal taxes
The first

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December 2021 – Usual end of year month

January 4, 2022

(Disclosure: Some of the links below may be affiliate links)
2021 really flew by. I cannot believe it is already over! Overall, this was a weird year, with COVID and then the birth of my son. It did not look like any other year.
Nevertheless, December 2021 still felt a little like a usual end-of-year month. We had the (mostly) usual celebrations and the usual end-of-year bills.
Overall, it was a good month for us. So, let’s see the details of what happened in December 2021.

December 2021
For us, December has always been a month for the family, and this year was no exception. The parties were scaled-down but still great! One of the parties was canceled because two people had symptoms, but this will be done later in January instead. So, family time in December was quite good!
It was also

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What’s the Time Value of Money?

December 21, 2021

(Disclosure: Some of the links below may be affiliate links)
In the personal finance community, many people use the concept of Time Value of Money (TVM) to think about money. This concept helps you think about the value of money if it were invested.
I think it is an interesting concept worth talking about. However, we should be careful about using this concept because it leads some people to think too much about their expenses and understanding.
So, let’s see what the time value of money is and what we can do with it.

Time Value of Money
Any sum of money has some earnings potential. Indeed, you could invest this money in the stock market (or in another investment instrument).
The concept of the time value of money means that money has more value now than it has in the future. This means

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7 Tips to save money with your newborn in 2021

December 14, 2021

(Disclosure: Some of the links below may be affiliate links)
We recently became the parents of a cute son. Before he was born and in the first few months of his life, we had to purchase and prepare many things. We tried to avoid spending too much while still buying everything we needed for him.
Overall, we did a good job at keeping these expenses reasonable. And we also learned some things later on.
Overall, there are many things you can do to spend less for your newborn while not changing anything to his quality of life. In this article, I share our tips on how to save money with your newborn.

 1. Do not buy (too many) tiny clothes
When a baby is born, he generally wears size 50 clothes. However, these clothes are pretty much useless. At most, they will last one month, usually much less

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November 2021 – Not so frugal

December 7, 2021

(Disclosure: Some of the links below may be affiliate links)
I cannot believe it is already December. These last few months are flying by us very quickly. It is crazy how a child can change everything.
We are still slowly adapting to life with our son. He is growing nicely and changing very quickly. It was an interesting month to follow his growth.
Financially, we bought quite a few unusual things but did not go overboard either. So, we managed to save a sizeable portion of our income again.

November 2021
Overall, November 2021 was a good month. We had a few family events again with our close family. This made a big difference in our moods. We are still careful especially seeing the current number of cases in Switzerland, but being fully isolated would be worse.
We are still not sleeping

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Retire Early: The Simple Guide – I wrote a book

November 23, 2021

(Disclosure: Some of the links below may be affiliate links)
Retire Early The Simple Guide is now available as an ebook and hardcover! I wrote this book with Thomas Walke, another blogger in Switzerland.
Our book is about guiding the reader to their financial independence and possibly to their early retirement. Retire Early The Simple Guide is a general book applicable to most countries, but we primarily think about European countries.
This article discusses Retire Early: The Simple Guide in detail and how we wrote that book.

Retire Early: The Simple Guide

My first book

Retire Early: The Simple Guide

A simple guide you through all the basics to your own Financial Independence and if you want it, your own early retirement. Start your journey to financial freedom now!

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