Do you dream of stopping work and taking early retirement? Achieving financial freedom is the key; whether through real estate investment, entrepreneurship or financial investments, there are now many ways to achieve financial freedom. Piguet Galland helps you to gain clarity and build a robust plan to achieve your goals and realise your life projects.
Financial planning: a blueprint for financial freedom
Budget management, investment optimisation, retirement, financial planning helps you achieve your personal goals and carry out many of life's projects. It's one of the most effective ways of achieving financial freedom.
With the help of the private bank Piguet Galland, put in place a real plan to become financially free by:
- assessing your current financial situation, based on an analysis of your income and expenses to gain a better understanding of your overall situation;
- determining financial goals that will enable you to realise your life projects. They must be realistic, measurable and determined over time;
- developing your detailed action plan to achieve your financial goals;
- establishing a savings and investment plan;
- adjusting your plan according to your situation, your needs and any new goals you may have, throughout your life.
How to aim for financial freedom and live on investment income?
If you want to live on investment income and finally achieve financial freedom, you're going to need to make various investments to diversify your sources of income. It's therefore important to establish an investment and investment strategy, based on your financial goals and your financial possibilities.
To do this, you need to take into account various parameters:
- The amount of your initial capital;
- Your savings capacity;
- The date you wish to achieve financial freedom;
- The sum of income you need to live on;
- The length of time you wish to receive this income.
As you can see, diversification of income sources is the key to success. The 3 main pillars of diversification to be able to live on investment income are:
- real estate investment: investing in rental property ensures a regular monthly income. Furnished rental remains the most profitable real estate investment.
- entrepreneurship : this is the royal road to generating income independently and building wealth and capital available at the time of resale;
- stock market investing: over time, stock market shares are among the assets ensuring the best return. Investing in the stock market allows you to generate additional income which, combined with other investments, allows you to achieve financial freedom.
All these actions will enable you to achieve financial freedom and enjoy early retirement.
Save more and reach financial freedom faster with frugalism
Optimising your budget and controlling your spending is imperative for those who aspire to achieve financial freedom. Why? Firstly, because it will enable you to define the minimum amount you need to live on. Secondly, because perfect management of your budget will enable you to save and eventually invest.
Setting money aside and investing your savings: this is one of the keys to financial freedom. It's the principle of frugalism which, thanks to savings, allows you to retire much earlier! This lifestyle changes our relationship to money, work and time.
To become a frugalist is to change your habits and aspire to financial freedom by all means, in a reduced time-span. Reduce your spending, set priorities, avoid over-consumption and build up solid savings. Your goal: to living better by spending less and saving the rest. Frugalists are fans of early retirement, i.e. retiring between the ages of 40 and 50. Why not you?
Invest in real estate and live off the rents received
Invest in real estate at an early stage to generate income, with the long-term aim of living off your income. Several strategies are available, depending on the type of investment you choose. The most classic real estate investment involves investing in the renovation or construction of a property, reselling it and then benefitting from the real estate capital gain.
However, this isn't the most profitable option. If you want to achieve financial freedom, we recommend investing in rental property. Why is this? Simply because it's a safer investment, providing a regular income over the long term, derived directly from rental income.
The best option for living on income from real estate is to diversify your assets by acquiring several rental properties in different Swiss cities. The bank Piguet Galland recommends investing in smaller properties in attractive cities. Owning several rental apartments reduces the risk of vacancy and secures your rental income. Last but not least, demand for studio or two-bedroom rentals is very strong.
Live off your assets: stocks, bonds...
Of course, if you're aiming for financial freedom, one avenue to seriously consider is investing in the stock market. Good investments with high returns enable you to live off your assets and the income generated by your stocks and bonds. However,to build up a coherent, profitable portfolio, it's essential to have the right support!
In fact, a perfect knowledge of the market is essential to make the right investments, those that will generate sufficient income to enable you to achieve financial freedom. Our experts in the financial markets can help you preserve your capital and ensure its return. They are available to help you select the funds and investments best suited to your situation.
Become an entrepreneur
Entrepreneurship opens the way to financial freedom, offering you the chance to create your own business, to generate greater sources of income. In fact, unlike salaried employment where income is limited by your potential salary, becoming an entrepreneur can significantly increase your capital.
Today, thanks to the web and the internet, it's become much easier to set up profitable businesses quickly. This is particularly due to the many opportunities offered by digital and online sales. What's more, becoming an entrepreneur also allows you to achieve fulfilment in your work, by becoming your own boss and developing all your skills and abilities.
Achieving financial freedom through entrepreneurship therefore makes it easier to realise your projects and opt for a lifestyle that better matches your aspirations and ambitions. When your business becomes profitable, you can easily choose to work part-time, devote yourself to personal projects or even take early retirement. In fact, you can continue to live without working, enjoying the profits generated by the resale of your business. You can also receive dividends every year, for as long as you live.
Would you like support on your road to financial freedom? Don't hesitate to contact our experts in wealth management, investment and financing . The friendly size of our team at the boutique bank Piguet Galland is here to listen to you and give you the best advice to make your project a reality.
