Switzerland is not only a beautiful nation but also a major global financial hub, with a remarkable number of millionaires. Recently, entrepreneur Darshan shared some interesting facts about Switzerland on the social media platform X. He posted, "In Switzerland, 1 in 7 adults is a millionaire. This is five times higher than in the US. I had to uncover their wealth-building secrets. Here are 7 ways the Swiss approach money to become wealthier than you:.." He then detailed the country's financial strategies in a series of posts.
So, what makes Switzerland so successful at building wealth?
One key strategy is prioritising investment over homeownership. While 65% of US adults own homes, only 41% of Swiss adults do. Many Swiss millennials prefer renting and invest the money they save from not buying homes into high-yield investments. This helps them grow their wealth faster.
Swiss families also follow a disciplined saving method. Instead of saving whatever is left after expenses, they automatically save 20-30% of their income before spending.
Education is another important factor. Swiss people invest 5-10% of their annual income in personal growth. Skills in languages, technology, and financial literacy are seen as valuable investments.
Swiss millionaires manage their money using a "multi-bank approach." They use local banks for daily transactions, private banks for personalised wealth management, and international banks for foreign exchange and global investments.
