Episode 041 – How to make the road to FI work | Mr RIP
Hello and welcome to this new episode! Today our guest is Mr. RIP from Zurich, and while we initially planned to have geoarbitrage as our main topic, the conversation landed on many other topics, with very interesting insights and useful hints from our guest.
We also talk about:
- Technology and ability to concentrate
- Visualizing your future
- Cross-border strategies
- FI as an insurance
- Passion and career steps
- Behavioral aspects of investing
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Balancing working and non-working days as a strategy to approach FI
On the way to financial independence many people at some point begin having a mix of working and non-working days, so that they can balance the positive aspects of an “everyday job” life with what can be seen as a reduced version of early retirement. Usually a mix of 4 working days per week is seen as a sort of golden ratio, but Mr. Ripp raises the bar and considers 3 working days per week as a better blend, ensuring more manageable time frames for both dimensions, especially in a family context. In the end, Keynes himself predicted a future of this kind!
Planning is crucial not only for FI but for an optimal life trajectory in general
Mr. Ripp highlights the importance of planning throughout our conversation: planning is a central resource for our journey to financial independence, for making the correct moves during our career and to move out of that, and for the general management of everyday life. It enables optimal use of resources, thus amplifying our potential and the choices at our disposal, even if our plan won’t be completely used. After all, as Eisenhower puts it, “plans are useless but planning is very important”.
Geoarbitrage in Europe, and in Switzerland specifically
The geoarbitrage scheme usually includes working in a high income country and living or investing in a low income, possibly fast developing country, typically located outside of Europe. We take a look with Mr. Ripp at possible alternatives within Europe starting with his own experience in Switzerland, which is considered one of the best countries to raise money in, but not the first place to consider when choosing a home for early retirement. Some very useful perspectives here if looking for alternative destinations.
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