The Mindset You Need To Invest

The Mindset You Need To Invest

“Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall wellbeing” ― Peter Diamandis

3 min read

The Mindset You Need to Invest

The Mindset You Need To Invest

“Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall wellbeing” ― Peter Diamandis

3 min read

The size of your initial step often matters less than the consistency and determination with which you tread the path. Today, we are here to redefine the notion of investing, emphasising the power of starting small and dreaming big. It’s all about having the right mindset going into investing that can help you in your future financial success.

The Mindset Shift

Investments aren’t about instant success or playing a colossal opening move; it’s about adopting a mindset that fosters a belief in the power of small, consistent actions. Recognising that financial success isn’t merely about the size of one’s initial investment but rather the commitment to regularity and strategic planning. It’s the realisation that regular investments aren’t a hindrance but an advantageous approach that can lay the foundation for long-term financial growth. By embracing this mindset, investors unlock the potential for gradual yet substantial wealth accumulation with a clear investment strategy and financial plan that is followed along the way.

Patience and Long-Term Thinking

Successful investing necessitates a shift in mindset as mentioned. This goes from seeking instant gratification to embracing patience and long-term vision. Patience is the cornerstone, enabling investors to withstand market volatility and resist the temptation of impulsive decisions. By adopting a long-term perspective, individuals can recognise that significant wealth accumulation occurs gradually over time. This mindset shift empowers investors to focus on enduring value rather than short-term fluctuations, aligning their strategies with their financial goals.

Cultivate a Rational Approach

A rational mindset is the bedrock of successful investing. It involves making decisions grounded in logic and analysis rather than emotions. Emotions, especially fear and greed, can often drive impulsive investment decisions, leading to unfavourable outcomes. Maintaining a rational approach, using thorough research, informed decision-making, and sticking to a well-defined investment plan can help curb emotional influences and foster a disciplined, rational mindset, essential for navigating the dynamic landscape of investments.

Embrace Risk and Learn from Failures

Risk is inherent in investing, and embracing it is pivotal. Calculated risks can even lead to substantial gains. This emphasises the importance of understanding and managing risks rather than avoiding them altogether.

Moreover, failure is an inevitable part of the investment journey. It’s essential to view failures as learning experiences, refining strategies, and strengthening one’s investment acumen. This mindset encourages resilience, adaptability, and a willingness to learn from mistakes, ultimately fostering growth and improved decision-making.

Maintain Discipline and Consistency

Discipline and consistency form the backbone of a successful investment mindset. Adhering to investment plans, staying committed to set strategies, and avoiding impulsive deviations. It underscores the power of consistency in regular investments, such as dollar-cost averaging, as a means to mitigate risks and harness the benefits of compounding returns. By maintaining discipline and consistency, investors lay a robust foundation for their financial journey, enhancing the potential for sustainable wealth creation.

Develop a Growth Mindset

A growth mindset, characterised by a hunger for knowledge and continuous improvement, is indispensable in the world of investments. There is weight to be given to staying informed, being open to learning from various sources, and adapting to evolving market trends. It advocates for embracing new ideas, seeking diverse perspectives, and constantly honing investment skills. A growth mindset propels investors to explore new opportunities, innovate their strategies, and remain adaptable in a dynamic investment landscape.

Stay Committed to Financial Goals

Commitment to financial goals is the compass guiding investors through their journey. Setting clear, measurable, and achievable goals is essential for every investor. Setting such goals helps steer investment decisions, keeping investors focused, motivated, and aligned with their long-term aspirations. They offer practical advice on goal setting, breaking down larger objectives into smaller, actionable steps, and regularly assessing progress to ensure continual alignment with evolving financial goals.

Charting Financial Stability

Our article to kick off this week is not just a guide, but rather your own blueprint or roadmap to transform your own mindset for the best possible chance at successful investing. 

It is important to remember than investments can go down, as well as up, and so a disciplined financial plan is essential. To get yours, get in touch with Patterson Mills today and book your initial, no-cost and no-obligation meeting, you will be pleased that you did. Send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Cash or Code? CBDCs vs. Physical Money

Cash or Code? CBDCs vs. Physical Money

“We live in a digital world, but we’re fairly analog creatures” ― Omar Ahmad

3 min read

Cash or Code? CBDCs vs. Physical Money

“We live in a digital world, but we’re fairly analog creatures” ― Omar Ahmad

3 min read

Conversations about how we spend our money are centreing more and more around the debate between physical money (cash) and Central Bank Digital Currencies (CBDCs). As the world hurtles towards a digital future, with digital payment methods and cryptocurrencies becoming increasingly prominent, it’s essential to understand the fundamental differences between CBDCs and physical cash.

Is one better than the other? What are the implications of adopting a system such as CBDC? Will cash have a part to play in the future? We will tell you all this and more right here in this article. So, put your bank notes in your wallet and coins back in your pocket because this article is free for you to read.

A World Before Digital Money

Cash, in its most fundamental form, represents physical currency that includes banknotes and coins issued and regulated by a country’s central bank or government. These tangible representations of value are universally recognised as a medium of exchange (‘legal tender’) in everyday transactions. Cash serves as a readily accepted means of payment, and its usage dates back centuries, reflecting the historical evolution of trade and finance.

One of the key characteristics of cash is its wide acceptance across various economic transactions. From buying groceries at a local shop to paying for goods and services, cash offers immediacy and simplicity in facilitating trade. It doesn’t rely on complex financial infrastructure or digital technology, making it accessible to individuals regardless of their economic background. Despite the digitalisation of modern finance, cash remains a vital component of our economy, providing a sense of security and financial autonomy to those who prefer physical currency.

Pixels For Sale

A Central Bank Digital Currency (CBDC) is essentially a digital version of a country’s national currency, and it’s issued and regulated by its central bank. Unlike cryptocurrencies like Bitcoin or Ethereum, CBDCs are centralised, meaning they are fully controlled and regulated by the government and the central bank. They serve as a digital representation of physical cash, designed to provide a secure and efficient means of conducting financial transactions in the digital age.

CBDCs can exist in two main forms:

  1. Retail CBDCs: These are digital currencies accessible to the general public, including individuals and businesses. People can hold retail CBDCs directly in their digital wallets, similar to having digital banknotes that they can use for everyday transactions.

  2. Wholesale CBDCs: These are primarily designed for financial institutions, such as banks and other large-scale financial entities. Wholesale CBDCs are often used for interbank transactions, settlements, and other large financial activities that require a high level of efficiency and security.

The introduction of CBDCs aims to combine the convenience of digital payments with the stability and security of traditional central bank-backed currencies. It offers a way to modernize and streamline financial systems, making transactions quicker and more efficient while maintaining the backing and regulatory oversight of a central authority.

CBDCs Advantages and Disadvantages

Believe it or not, there are both upsides and downsides to using CBDCs. Some of the advantages are as follows:

  1. Efficiency: Transactions involving CBDCs are swift and efficient. They can significantly reduce the time and costs associated with cross-border payments, as well as streamline domestic transactions. This efficiency can benefit individuals and businesses alike, making financial interactions smoother.

  2. Reduced Fraud: The digital nature of CBDCs makes them highly resistant to counterfeiting and fraud. Every transaction is recorded in a supposedly ‘tamper-proof’ ledger, enhancing the security and integrity of the financial system. This reduced risk of fraud can lead to greater trust in the currency.

  3. Financial Innovation: CBDCs can serve as a platform for financial innovation. They enable programmable money, allowing for the automation of various financial processes and the development of smart contracts. This can lead to the creation of new financial products and services.
  4. Transparency: CBDC transactions are recorded on a public ledger, ensuring transparency and traceability. This can help reduce corruption and illicit financial activities, contributing to a more accountable financial ecosystem.
  5. Cross-Border Transactions: CBDCs can simplify cross-border transactions by eliminating the need for multiple currency conversions and intermediaries. This can reduce transaction costs and the time required for international trade and remittances.

On the other side of the coin (or code…), some disadvantages are as follows:

  1. Privacy Concerns: One of the primary concerns surrounding CBDCs is the potential erosion of financial privacy. Unlike physical cash, CBDC transactions are recorded on a public ledger, making them traceable. This transparency raises concerns about the surveillance of financial activities by governments or institutions, potentially compromising individuals’ privacy.
  2. Cybersecurity Risks: CBDCs are inherently digital, which makes them susceptible to cyberattacks. Hacking attempts and security breaches can result in the loss of funds and sensitive financial data. Ensuring robust cybersecurity measures is crucial to safeguard CBDCs against threats. Though some believe it is not possible to have a system that is 100% secure at all times.
  3. Financial Stability: The widespread adoption of CBDCs could have unintended consequences for the traditional banking system. If individuals and businesses prefer holding CBDCs directly with the central bank, it may lead to a reduction in deposits held by commercial banks. This shift can impact banks’ ability to lend and manage liquidity, potentially affecting overall financial stability.
  4. Digital Divide: Whilst CBDCs aim to promote financial inclusion, their effectiveness in bridging the digital divide is not guaranteed. Access to digital devices, understanding of the digital world and a reliable internet connection remains a barrier for many individuals, preventing them from fully benefiting from CBDCs.
  5. Dependency on Technology: CBDCs rely heavily on technology infrastructure. System failures, technical glitches, or power outages could disrupt access to funds and financial services, potentially causing inconvenience and financial hardship for users.

Pros and Cons of Cash

Cash, in the form of physical currency, has long been a staple of daily transactions. Whilst digital payment methods and Central Bank Digital Currencies (CBDCs) are gaining prominence, cash still offers several advantages, making it relevant in today’s financial landscape:

  1. Anonymity and Privacy: Cash transactions provide a high level of privacy. When you use cash, there is no electronic record of the transaction, which can help protect your financial privacy. This anonymity can be crucial for individuals who value discretion in their transactions.

  2. Universal Acceptance: Cash is universally accepted, making it a reliable form of payment across various businesses and locations, including those that might not accept digital payments or cards. However, you may find an establishment that no longer accepts cash, so be sure to double check accepted payment methods before engaging in their services or buying their goods.

  3. Tangibility: Physical cash is tangible, allowing you to physically see and count your money. This tangible aspect can help with budgeting and financial awareness, as you have a clear sense of how much money you have at any given time.

  4. No Dependence on Technology: Cash transactions do not rely on technology or an internet connection. This means you can use cash even in areas with limited access to digital infrastructure, during power outages, or when electronic payment systems are down.

  5. Immediate Settlement: Cash transactions are settled instantly. When you make a cash payment, there’s no need to wait for authorizations, confirmations, or bank processing times. This immediacy can be especially valuable in situations where speed is essential.

However, on the other side of this real coin, the disadvantages are as follows:

  1. Security Risks: Cash can be lost or stolen easily. If your wallet is misplaced or stolen, the cash inside is typically irretrievable. This poses a significant security risk, especially in crowded or high-crime areas.
  2. Inconvenience: Handling cash can be inconvenient, especially for large transactions. Counting, sorting, and carrying large sums of cash can be cumbersome and time-consuming.
  3. Risk of Counterfeiting: Cash is susceptible to counterfeiting, with counterfeit currency occasionally making its way into circulation. Detecting counterfeit bills can be difficult for the average person.
  4. Limited Accessibility: Access to cash can be restricted in remote or underserved areas, where ATMs and banking infrastructure may be scarce. This limitation can hinder financial inclusion for individuals in these regions.
  5. Unsanitary Handling: Physical currency can carry germs and pathogens due to frequent handling. Especially in times of health concerns, like pandemics, the use of cash may be discouraged for hygiene reasons.

Who Dares Wins

Now you know the advantages and disadvantages of both CBDCs and physical money (cash), which do you think wins? Is there a place for both to function alongside eachother into the future? Or, will we see cash phased out over time? Only time will tell.

Cash is here to stay for the near-future, and it appears that the best one for you is down to personal preference. However, if you want to learn more about how to future-proof your funds, make sure to get in touch with Patterson Mills today and book your initial, no-cost and no-obligation meeting. Just send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Theatre of Finance: Our Retirement Story Begins

Theatre of Finance: Our Retirement Story Begins

“To me, retirement means doing what you have fun doing” — Dick Van Dyke

4 min read

Theatre of Finance: Our Retirement Story Begins

“To me, retirement means doing what you have fun doing” — Dick Van Dyke

4 min read

This is not your typical article, so read on below to be immersed into the world of retirement planning through a more familiar lense where we introduce you to Max and Lily as they attempt to ensure they are on track to enjoy the retirement they deserve.

Max is in his mid-40s and married to Lily, in her late 40s. Our story begins with them both at home trying to make sense of what they can do to plan for their retirement! 

Let’s see what they are discussing…

Max's Retirement Dilemma

Max sits on the couch, staring at a pile of retirement brochures, looking perplexed.

MAX: Lily, come take a look at this!

Lily enters the room with a cup of coffee.

LILY: What’s up, Max?

MAX (slightly frustrated): I’ve been reading about retirement planning all morning, but it feels like I’m deciphering hieroglyphics. It’s so overwhelming!

LILY (overwhelmed): Well don’t look at me, I have no idea, Max. In Switzerland everyone is talking about a Pillar 2 or a Pillar 3, and then everyone in the UK keeps going on about a SIPP and an ISA? It’s all so…financial! Maybe we should have stayed in one country! We need some guidance.

MAX (skeptical): Guidance, huh? Like from a Financial Adviser?

Suddenly, the ceiling opens up and an ANGEL descends from above, with a beam of heavenly light surrounding them. Strangely, this angel is wearing a suit and tie!

ANGEL (smiling): Fear not, Max and Lily, for I am your Retirement Guardian Angel, here to guide you on the path to financial enlightenment!

MAX (astonished): Is that…an angel?

LILY: Well, from the outfit I’d say no, but judging from making an entrance like that… I guess it might be!

ANGEL: Come with me, and you’ll be in a world of financial liberation. It’s filled with budgeting, investments, retirement options, and best off all you maintain your current lifestyle.

MAX (relieved): Sounds great, but can we start with something I enjoy instead?

LILY: Max, let’s embrace this amazing opportunity! This is our chance to have all our questions answered!

The Angel takes Max and Lily by the hand, and they all exit the room, leaving behind the confusing brochures.

The Guardian Angel

The trio arrive on a gorgeous beach next to a clear blue ocean and in the distance a beautiful beach house.

MAX (curious): Alright, Angel. So, where are we?

ANGEL: Well, this is where you could retire if you follow the steps I will show you.

LILY: This is amazing! Max, I’d love to retire to a place like this. It’s so peaceful and warm. We need to do whatever we can to be able to retire to a place like this.

ANGEL: Actually, Lily, remember I am going to show you how to get the retirement you want without having to go above and beyond!

MAX: Right, I’ll roll with it for a moment. Where do we start?

ANGEL: Well, to chart your course we first need to set clear retirement goals. Where do you envision yourselves? How much income do you want each year in retirement? Really, your retirement can be anything you want it to be as long as it aligns with your goals.

MAX: Well, as nice as this place is, I’d actually like a peaceful lakeside cottage in the Swiss Alps.

LILY: Let’s aim for both the cottage in the Alps and the beach house! 6-months a year in each place!

ANGEL: Wonderful! Just like that, you’ve got some retirement goals! Now, from here you need to do some budgeting. Track your expenses, create a budget, and make sure you allocate funds for retirement savings!

LILY (taking notes): Budgeting, got it!

Saving To Achieve Your Dreams

LILY: Angel, people say retirement is almost impoosible these days. There’s so many things to worry about, how do we cope with it all? Will we even be able to retire?

ANGEL: I understand, Lily. People often express concerns about stagnant wages, rising healthcare costs and economic uncertainties or-

MAX (interrupting): Or that their pensions won’t be enough!

ANGEL: Exactly. Whilst these are valid concerns, a well-thought-out retirement plan can address many of these issues. Diversifying your investments, considering an alternative source of income, and exploring retirement account options can help mitigate these challenges. This is why guidance is so valuable, sometimes the option that’s best for you is out there somewhere, but you just need someone to show you the way.

MAX: So, you’ve told us where to start, but what about WHEN to start? We are in our 40s now and have been contributing to an occupational scheme from work, but don’t really know much about it or have much put away for retirement.

ANGEL: Good question, Max! In truth, the best time to start was yesterday. However, the second best time to start is today! So, as soon as you possibly can you should start thinking about and saving for your retirement. Don’t be sad though, it’s never too late to what you can to achieve the retirement you both want, and deserve.

Investing For The Future

ANGEL: Make sure that you also have investments that are appropriately diversified and growing. You’ll be surprised what even investing 1,000 can turn into in 20-years or more! As long as you invest wisely, you are very likely to accelerate your progress to achieving your retirement goals.

LILY: Well, we’ll take that into account but we haven’t got much spare and we want to keep it all in cash. That’s the best thing to do, right?

ANGEL: Interestingly, keeping your money in cash is not always the best thing to do. It might feel safe as you can look at your balance and see 100,000 staying as 100,000. But, in reality, the amount of things you can actually buy decreases each year with a thing called ‘inflation’.

MAX: Okay, now you’re making things up as you go along! What’s inflation?

ANGEL: I’m not! Inflation is the general increase in prices over time. You know that coffee Lily had earlier? You paid 15.00 for the coffee beans, but in the future you might have to spend 20.00 to buy the same beans! So, you can see how even if you keep 100,000 in the bank, the actual value IS decreasing over time, and should be taken into account.

MAX: That makes sense. Have you got all that written down, Lily?

LILY: Setting retirement goals, budgeting, diversifying investments, alternative sources of income, exploring retirement account options, and seeking help. Got it! Is there anything else?

ANGEL (laughing): We would be here for years if I told you everything in this one conversation! That information will set you on the right track, and maybe I will visit you again in the future to help you along the way. For now, I must return to where I came from so let’s take you home.

LILY (slightly sad): That’s a shame, I was actually enjoying learning for once… and it’s real information that can actually have a positive impact on our lives now and into the future. This has been such a great experience. Thank you for coming to us when we needed it and showing us the way!

ANGEL: You’re welcome. Don’t forget though that help won’t always find you. Sometimes, you need to seek help out yourselves and don’t be afraid to do so! I’ll see you again…

Angel begins to float into the sky whilst Max and Lily find themselves back in their home with Lily’s coffee still hot on the table.

MAX: Well, that was good wasn’t it?

LILY: Good?! That was incredible! I’ll see if I can find someone who can help us as that Angel won’t be around all the time. You start putting together our budgeting spreadsheets and looking into retirement account options available.

MAX: Alright, let’s do this!

Looking For A Heavenly Retirement?

We’ve tagged along with Max and Lily as they had their adventure with their guardian retirement angel. It all seems a bit fantastical doesn’t it? However, that’s just not quite the case. Okay, perhaps being teleported by an angel to a beautiful beach and then back to your living room with the coffee still hot isn’t something that will happen anytime soon… but Patterson Mills are here to guide you on your road to retirement, no matter what stage you are at.

Planning for retirement doesn’t have to be intimidating. With a little guidance, even the most complex financial concepts can become clear. Whether you have an angelic Financial Adviser or not, taking those initial steps toward your dream retirement is the key to a brighter future. To ensure you’re retirement is taken care of, get in touch with us today and book your initial, no-cost and no-obligation meeting. Just send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this story and article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


The Pursuit of Happiness: What Money Can Buy

The Pursuit of Happiness: What Money Can Buy

“A rich man is nothing but a poor man with money” — W. C. Fields

3 min read

The Pursuit of Happiness: What Money Can Buy

“A rich man is nothing but a poor man with money” — W. C. Fields

3 min read

In a world that often pits money against happiness, here we are looking at uncovering the subtle but significant ways in which wealth and well-being intersect. Whilst it may be true that money can’t buy happiness in its purest form, it’s equally true that financial resources can play a pivotal role in enhancing overall contentment.

To find out about the fascinating relationship between money and happiness, have a read of this article that discusses the art of living a happier life whilst maintaining your financial prosperity.

The Science of Happiness

Happiness is a complex emotion, and its pursuit has intrigued philosophers, psychologists, and scientists for centuries. Recent research in positive psychology suggests that whilst money alone can’t guarantee happiness, it can certainly contribute to it. The key lies in how we allocate our resources. Investing in experiences, strong social connections, and personal growth can bring about lasting happiness. So, the next time you consider that holiday, think of it not as an expense but as an investment in your well-being!

Furthermore, studies show that achieving financial stability can significantly reduce stress, a major happiness detractor. The peace of mind that comes with knowing you have a financial safety net can boost your overall satisfaction with life. In essence, the science of happiness reveals that managing your money wisely can pave the way for a more joyful life.

Money Can Buy Comfort

Imagine waking up in a comfortable bed, sipping your favourite coffee, and heading off to work stress-free. Money can provide the resources to create such a scenario, and that comfort can significantly impact your happiness. Investing in a good mattress, quality coffee, or even a reliable car can enhance your daily life experiences. It’s not about extravagance, but recognising that small comforts can lead to greater well-being. 

Moreover, financial resources can enable you to live in a safe neighborhood, access quality healthcare, and secure a better education for yourself and your loved ones. These factors contribute to a sense of security and contentment that money, when used wisely, can provide. So, whether it’s upgrading your living situation or investing in your health, consider these as ways your financial choices can enhance your happiness.

The Joys of Giving

One of the most beautiful aspects of money is its potential to make a positive impact on the lives of others. Generosity has been linked to increased happiness levels, and your financial resources can fuel your capacity to give. Whether it’s supporting a charitable cause, helping a friend in need, or treating your loved ones to a special gift, these acts of kindness can bring immense joy.

In addition, investing in experiences with loved ones, such as traveling together or hosting gatherings, creates lasting memories and strengthens social bonds. These shared moments often become a source of happiness that transcends the value of money spent. So, remember that your wealth can be a tool not only for your own happiness but also for spreading joy to others.

Pursuing Passions and Hobbies

Many of us have passions or hobbies that bring us immense joy and fulfillment. Money can empower you to pursue these interests more fully. Whether it’s taking up a new hobby, exploring an artistic talent, or engaging in adventure sports, your financial resources can provide the means to follow your heart’s desires.

Investing in your passions can lead to a richer and more enjoyable life. It’s not about extravagant spending but about allocating resources to the things that truly matter to you. When you engage in activities you love, you experience a sense of purpose and satisfaction that money can facilitate.

Financial Security and Peace of Mind

Financial stability is a significant contributor to overall happiness. The stress and anxiety that come with financial insecurity can severely impact your well-being. Money, when managed wisely, can provide the foundation for a secure future.

By saving and investing prudently, you can build a financial safety net that offers peace of mind during challenging times. Knowing you have the resources to weather unexpected emergencies or pursue new opportunities can reduce stress levels and enhance your overall happiness. In essence, financial security is a crucial aspect of using money to create a happier life.

Experiences Over Possessions

The age-old adage that experiences bring more happiness than possessions holds true. Investing your money in memorable experiences like travel, concerts, or dining with friends often leads to longer-lasting joy than buying material goods. These experiences create cherished memories and contribute to your overall happiness.

Also, experiences with loved ones can strengthen your relationships, fostering a sense of belonging and emotional well-being. So, when contemplating how to spend your money, consider prioritising experiences that enrich your life and create lasting happiness.

Achieving Financial Goals

Setting and achieving financial goals can be a source of immense satisfaction. Whether it’s saving for a dream holiday, buying your first home, or planning for retirement, working towards these objectives gives you a sense of purpose and accomplishment.

Furthermore, the discipline required to manage your finances and make progress towards your goals can translate into other aspects of your life, enhancing your overall sense of self-control and achievement. Achieving financial milestones can boost your confidence and instill a sense of pride in your financial management skills.

The Art of Balancing Wealth and Wellbeing

In the quest to understand the intriguing relationship between money and happiness, we discover that it’s not a matter of one versus the other but actually a harmonious balance between the two. Money, when used wisely, can indeed buy happiness, not always through the acquisition of possessions but through the experiences, comfort, and opportunities it affords. Investing in relationships, personal growth, and financial security can all contribute to a life filled with joy.

As you navigate growing your finances, remember that happiness isn’t solely defined by your bank account balance. It’s the moments you create, the lives you touch, and the sense of security you build that truly matter. So, should you wish to receive guidance on managing your finances in a way that aligns with your pursuit of happiness, it’s your lucky day.

Patterson Mills are here to help. Get in touch with us today and book your initial, no-cost and no-obligation meeting. Just send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


The Money You Don’t Know You’re Wasting

The Money You Don’t Know You’re Wasting

“Beware of little expenses. A small leak will sink a great ship” — Benjamin Franklin

3 min read

The Money You Don’t Know You’re Wasting

“Beware of little expenses. A small leak will sink a great ship” — Benjamin Franklin

3 min read

Have you ever checked your bank account and seen less money than you expected? Or perhaps you’ve looked at your credit card or bank statement and wondered where all those charges came from? If so, you’re not alone. Many people have experienced the frustration of money slipping through their fingers, seemingly vanishing into thin air.

It’s like a silent thief in the night, quietly siphoning away your hard-earned cash, one transaction at a time.

In our daily lives, we’re often vigilant about our major expenses – rent or mortgage, utilities, groceries, transport etc. – but what about the smaller, seemingly inconsequential costs that add up over time? These expenses may go unnoticed, yet they have the potential to eat away at your budget and financial goals in what feels like the blink of an eye.

It’s time to shine a light on these silent budget killers and take control of your finances. From your morning coffee to your online shopping extravaganza, here you will learn how these seemingly insignificant expenses can have a significant impact on your overall financial well-being. More importantly, by becoming aware of these money-wasting culprits, you can start making smarter financial choices and keep more money in your pocket.

The Price of Meal Delivery Services

Food delivery services have taken the culinary world by storm, offering the allure of gourmet meals delivered right to your doorstep with little to no effort involved. They promise to save you time on cooking and grocery shopping, but they may be a larger drain on your savings than you think. The convenience of pre-packaged, ready-to-cook meals often comes with a premium price tag. Over time, those seemingly modest weekly subscription fees can add up, leaving you with a hefty annual bill for the privilege of convenience.

Ride-Sharing Apps and Transportation Cost

Ride-sharing apps have revolutionised urban transportation, providing a convenient alternative to traditional taxis and public transit. However, the cost of this convenience can quickly accumulate, especially if you rely on these services for daily commuting. The ease of booking a ride with a few taps on your phone can obscure the fact that ride-sharing can be significantly more expensive than other transportation options. It’s essential to balance convenience with cost-effectiveness when deciding how to get around.

Lunches Away from Home

Lunchtime at work is another potential financial pitfall. It’s often convenient to join your colleagues for lunch at nearby restaurants or go down to the food court in your office building, but those midday meals can take a toll on your wallet. Spending CHF 10 to CHF 20 (or more!) each workday on lunch can easily add up to over CHF 5,000 a year. Imagine what you could do with that money if you brought your lunch from home a few times a week instead. By making small changes to your daily routines, you can rein in these costs and make significant strides toward improving your financial situation.

The Daily Coffee Habit

Consider your morning coffee routine. It might seem like a minor expense, just a few Francs each day. But when you do the math, that daily CHF 5.00.- coffee adds up to CHF 1’305 per year, and that’s excluding weekends! Whilst treating yourself occasionally is perfectly fine and even encouraged, when this ritual becomes a daily occurrence, it can hinder your financial progress. By evaluating such a coffee habit and exploring more cost-effective alternatives, you can redirect those funds towards more meaningful financial goals, like saving for a vacation or building an emergency fund.

The Allure of Online Shopping

Online shopping has reshaped the way we buy everything from clothing to electronics. The convenience of browsing and purchasing from the comfort of your home is undeniable. Yet, it’s also easy to fall into the trap of mindless spending. The simplicity of one-click ordering can lead to impulsive purchases and a growing credit card balance. What seems like a small indulgence here and there can accumulate into substantial debt if left unchecked.

Remember, there will always be another deal, another sale and another discount.

Finding the Balance

There is no denying that convenience is highly valuable. However, it’s crucial to be mindful of the financial implications. Rather than letting convenience become your wallet’s worst enemy, you can take steps to strike a balance between modern conveniences and your financial well-being.

  1. Set a Budget: Establish a budget that allocates funds for both essentials and leisure. This way, you can enjoy the benefits of shopping, eating out and more without overspending.

  2. Track Your Spending: Regularly monitor your expenses, especially those related to conveniences like food delivery, work lunches and transport. Identifying areas where you might be overspending can help you make necessary adjustments.

  3. Prioritise Savings: Allocate a portion of your income to savings before indulging in any leisure spending at all. Building a financial safety net should always come first.

  4. Use Discounts and Promotions: Take advantage of discounts, loyalty programs, and promotions offered online or in-stores services. It’s an easy way to enjoy the benefits while reducing costs (sometimes significantly).

  5. Practice Mindful Spending: Before making a leisure-related purchase, pause and ask yourself if it’s a genuine necessity or a fleeting desire. Being mindful can help you curb impulse buying. Before pressing ‘buy now’, consider coming back to it the next day and see whether the same desire to buy is still there.

The Power of Small Changes

In the grand scheme of things, it’s easy to dismiss the impact of daily expenses like coffee runs and dining out for lunch. However, as we’ve seen, these seemingly insignificant costs can accumulate into substantial annual expenditures. By taking a closer look at your spending habits and making some simple adjustments, you can regain control over your finances. Redirecting the money spent on daily indulgences towards savings, debt reduction, or investments can lead to significant financial growth over time that you may not even think possible.

It’s most certainly not about depriving yourself of life’s pleasures at all. Rather, it is about making mindful choices that align with your long-term financial goals. So, the next time you reach for that daily latte or consider dining out for lunch, remember the potential financial power you hold in your hands. Small changes today can yield significant rewards tomorrow.

For more information on how small changes can help you, get in touch with us today and book your initial, no-cost and no-obligation meeting. Just send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Chess Moves to Master Your Finances

Chess Moves to Master Your Finances

“Life is a kind of Chess, with struggle, competition, good and ill events” — Benjamin Franklin

3 min read

Chess Moves to Master Your Finances

“Life is a kind of Chess, with struggle, competition, good and ill events” — Benjamin Franklin

3 min read

Just like in a game of chess, where every move counts, your financial decisions shape your future. Read this article to find out how you can use chess strategies to enhance your financial wellbeing. Each chess move discussed will correspond to a key financial principle, helping you navigate the complex world of personal finance with skill and confidence.

An extra puzzle for you: do you know what the first letters of each heading represent? Read to the end to find out!

e4: Planning Your Financial Moves

In chess, the key to success is planning several moves ahead. You need to anticipate your opponent’s moves, understand the consequences of your actions, and have a clear long-term strategy. The same principle applies to your finances. Planning ahead allows you to set financial goals, make informed investment decisions, and navigate unexpected challenges with confidence.

Additionally, planning helps you create a roadmap for achieving your financial objectives. It ensures that you allocate your resources wisely, whether it’s for saving, investing, or paying off debts.

By breaking down your financial goals into smaller, manageable steps, you can stay on track and monitor your progress along the way.

e5: The Importance of Patience

In both chess and financial planning, patience is a virtue.

In chess, rushing your moves can lead to mistakes and vulnerabilities. Similarly, impulsive financial decisions can result in losses or missed opportunities. By taking your time and thoroughly considering your options, you can make more effective choices in both arenas. Furthermore, patience is essential when it comes to investing. Financial markets can be unpredictable, and short-term fluctuations are common. Instead of reacting emotionally to market movements, patient investors stay committed to their long-term strategies, which often leads to better outcomes.

Nf3: Risk Management

Chess players often sacrifice pieces to gain a strategic advantage, but they do so with a calculated understanding of the risks involved.

Likewise, in financial planning, there are risks associated with every investment or financial decision. Understanding and managing these risks are essential to avoid financial setbacks.

In the realm of finance, risk management involves diversifying your investments to spread risk, conducting thorough research before making investment decisions, and having a contingency plan in case of unexpected financial challenges. By addressing risk head-on, you can protect your financial wellbeing and navigate uncertain economic environments.

Nc6: The Endgame

In chess, the endgame is a critical phase where careful planning and execution can lead to victory.

Similarly, in financial planning, you must consider your long-term goals and how to achieve them. Whether it’s retiring comfortably, buying a home, or funding your children’s education, having a well-thought-out financial plan can help you reach your desired endgame.

Moreover, the endgame in financial planning involves optimising your investments and preparing for major life milestones. This phase often requires fine-tuning your portfolio, making strategic decisions about withdrawals, and ensuring that your financial plan aligns with your ever-evolving goals.

Bb5: Adaptability is Key

Chess masters adapt their strategies based on their opponent’s moves and changing game dynamics.

In the world of finance, being adaptable is crucial. Economic conditions change, investment landscapes evolve, and unexpected life events occur. Your financial plan should be flexible enough to accommodate these changes while still guiding you towards your goals.

In addition to adaptability, continuous learning is essential in both chess and financial planning. Staying informed about the latest financial trends, investment options, and tax regulations can help you make informed decisions and adjust your strategies as needed. By embracing lifelong learning, you can enhance your financial acumen and navigate financial challenges more effectively.

Puzzle Revealed: Checkmate Your Financial Goals

In both chess and financial planning, success requires careful thought, patience, risk management, adaptability, and a long-term perspective. By approaching your finances with the strategic mindset of a chess player, you can make better financial decisions and ultimately achieve checkmate on your financial goals to win the financial future of your dreams.

Remember, just as in chess, seeking advice from a professional can provide valuable insights and guidance with your financial plan. So, whether you’re a grandmaster in the making or just starting, make your financial moves wisely, and talk to Patterson Mills today for a more prosperous future ahead.

Get in touch with us today and book your initial, no-cost and no-obligation meeting. Just send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Your move…

For those keen chess players amongst you, the first few letters of each heading represent one of the most common chess openings: The Ruy Lopez (The Spanish Game), as below.

Credit: The Spruce Crafts

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


The Money Mistakes 90% of People Make – Are You One of Them?

The Money Mistakes 90% of People Make – Are You One of Them?

“Nobody made a greater mistake than he who did nothing because he could do only a little” — Edmund Burke

3 min read

The Money Mistakes 90% of People Make – Are You One of Them?

“Nobody made a greater mistake than he who did nothing because he could do only a little” — Edmund Burke

3 min read

It is all too easy to fall into common money traps. Whether it’s overlooking essential aspects of financial planning or making decisions that hinder your long-term financial well-being, money mistakes can affect anyone.

Are you among the 90% of people who have unknowingly stumbled into these pitfalls? Or are you one of the vigilant few who navigate the financial landscape with precision and foresight? Find out the often overlooked aspects of financial management and learn how to avoid these all-too-common errors below.

Overlooking the Power of Budgeting

One of the most prevalent financial mistakes is neglecting the art of budgeting. Many people don’t track their income and expenses, leading to overspending and difficulty in managing their finances effectively. Creating a budget can provide a clear roadmap for your money, helping you allocate funds for essentials, savings, and discretionary spending. By monitoring your budget regularly, you can identify areas where you can cut back and redirect funds towards your financial goals.

Important! Budgeting isn’t about restricting yourself; it’s about gaining control over your finances. Start by listing your income sources and all your expenses. Identify where your money goes each month, and then create categories to allocate your funds strategically. Remember, a well-crafted budget can be a powerful tool to achieve financial success and avoid unnecessary debt. Don’t let this fundamental step elude you.

Neglecting Emergency Savings

Another pervasive financial mistake is the lack of emergency savings. Many people don’t have a financial safety net to cover unexpected expenses like medical emergencies, car repairs, or sudden job loss. Without emergency savings, people often resort to high-interest loans or credit cards, which can lead to a cycle of debt.

Building an emergency fund should be a top priority. Aim to save at least three to six months’ worth of living expenses in a separate savings account. This fund can provide peace of mind and financial stability during challenging times. Even if you can only contribute a small amount each month, every bit adds up, and having this buffer can shield you from the financial strain of unforeseen events.

Living Beyond Your Means

Living beyond your means is a common financial mistake that can have long-lasting consequences. It’s tempting to spend money on non-essential items or experiences that you can’t afford. However, this lifestyle can lead to mounting debt and financial stress.

It’s essential to differentiate between needs and wants. Prioritise your essential expenses, such as housing, utilities, groceries, and debt repayments. Once these are covered, allocate a portion of your income to discretionary spending for entertainment and non-essential purchases. Creating a spending plan that aligns with your income can help you avoid living on credit and secure your financial future. Remember, financial well-being isn’t about what you earn; it’s about how you manage what you have.

Misusing Credit Cards

Credit cards can be a double-edged sword. Whilst they offer convenience and rewards, misusing them can lead to excessive debt and interest payments. Many people fall into the trap of making minimum payments, accumulating high-interest debt that lingers for years. To avoid this mistake, use credit cards responsibly by paying the full balance each month. If you have existing credit card debt, prioritise paying it down as quickly as possible to free yourself from the burden of interest payments.

Avoiding Investments

Another common financial error is avoiding investments altogether. Some people hoard cash or keep their savings in low-yield savings accounts, missing out on the potential for wealth accumulation through investing. Whilst investing carries risks, it’s essential for building long-term wealth and combating the eroding effects of inflation.

Consider various investment options, such as stocks, bonds, mutual funds, or real estate, depending on your risk tolerance and financial goals. Diversifying your investment portfolio can help spread risk and optimise returns over time. Starting early and staying consistent with your investment strategy can pave the way for financial security in the future. If you are unsure of where to start, contact Patterson Mills and we will guide you through the process.

Overlooking Retirement Planning

Underestimating the importance of retirement planning is easy to do. Delaying thinking about retirement happens often as it seems so distant, but this can be a costly mistake. With the rising cost of living and increased life expectancy, retirement planning is essential to ensure you have enough resources to enjoy your later years comfortably. In addition, creating wealth that can last through the generations is an aspect for consideration, too.

Start by setting clear retirement goals. Calculate how much you’ll need to maintain your desired lifestyle and then create a savings plan to reach that target. Consider taking advantage of employer-sponsored retirement accounts like occupational pensions (Pillar 2, compulsory for employees in Switzerland), which often come with valuable contributions from your employer. Additionally, a Swiss Pillar 3a, Australian Superannuation, US individual retirement accounts (IRAs), UK self-invested personal pensions (SIPPs) are all excellent tools for building a robust retirement in your respective country.

Failing to Diversify Investments

Investment diversification is a critical strategy that many overlook. Concentrating investments in a single asset class or sector can expose your portfolio to excessive risk. As mentioned, diversification involves spreading your investments across various assets to reduce risk and enhance overall portfolio performance.

Ensure your investment portfolio includes a mix of assets like stocks, bonds, real estate, and even alternative investments. Diversification allows you to harness the potential of different markets while minimising the impact of poor-performing assets. Regularly review and rebalance your portfolio to maintain your desired asset allocation and adapt to changing market conditions.

Not Seeking Professional Advice

Navigating the complexities of personal finance and investments can be challenging to do alone. Don’t make the mistake of not seeking professional advice when needed. Financial Advisers and investment professionals can provide valuable insights, helping you make informed decisions aligned with your financial goals.

Whether you’re planning for retirement, investing, or managing debt, consider consulting a Patterson Mills Financial Adviser. They can assess your financial situation, provide tailored recommendations, and create a financial plan that aligns with your objectives. Professional advice can lead to more efficient financial strategies and better outcomes.

Disregarding Financial Education

Financial literacy is a powerful tool for making sound money decisions, yet few seriously understand the importance of, and then seek out, a financial education. Without a solid understanding of basic financial concepts like budgeting, saving, investing, and managing debt, individuals may struggle to achieve their financial goals.

Invest in your financial education by reading the Patterson Mills website articles or financial books, attending workshops, or taking online courses that cover various aspects of personal finance and investing. Many resources nowadays do not involve any cost other than your time. The knowledge gained can then empower you to make informed choices and avoid common financial pitfalls.

Financial Freedom with Patterson Mills

Understanding these common financial mistakes is one thing. The next step is to rectify them!

With the right knowledge and support, you can achieve the financial future of your dreams. At Patterson Mills, we’re committed to helping you navigate these challenges, providing expert advice, and tailoring solutions to your unique financial goals. Don’t let these mistakes hold you back any longer — get in touch with us today and book your initial, no-cost and no-obligation meeting. Just send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Your financial future starts now!

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.


Should You Hold Cryptocurrency in Your Portfolio?

Should You Hold Cryptocurrency in Your Portfolio?

“I don’t think we fully understand the impact that crypto has had” — Mark Cuban

5 min read

Should You Hold Cryptocurrency in Your Portfolio?

“I don’t think we fully understand the impact that crypto has had” — Mark Cuban

5 min read

Cryptocurrencies like Bitcoin and Ethereum have surged in popularity in recent years, sparking a debate among investors about their role in a well-rounded portfolio. This article explores the pros and cons of including cryptocurrencies in your investment mix, helping you make an informed decision. So, join us as we embark on a comprehensive journey through the enigmatic world of cryptocurrencies. We’ll examine the driving forces behind their ascent, dissect the intricacies of blockchain technology, and delve into the considerations that every investor must weigh when contemplating a crypto-infused portfolio.

The Crypto Phenomenon

In recent years, cryptocurrencies have transcended their niche origins to become a focal point of global financial discussions. Bitcoin, the pioneer of the crypto realm, ignited a digital revolution, transforming the way we perceive and interact with money. Yet, alongside its rise, the crypto space has witnessed unprecedented turbulence, making it essential for investors to tread cautiously.

Whilst the allure of striking it rich in the volatile crypto markets is present for some, the path to success is fraught with pitfalls.

What is Cryptocurrency?

Cryptocurrency is a digital or virtual form of currency that relies on encryption techniques for secure transactions and the creation of additional units. Unlike traditional currencies issued by governments (such as the US dollar or the Euro), cryptocurrencies are decentralised and typically operate on technology called blockchain. 

Some popular cryptocurrencies include: Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT) and Dogecoin (DOGE).

Okay, So What is Blockchain?

At its core, blockchain is a decentralised and distributed ledger system that fundamentally changes how information is recorded, stored, and verified. Unlike traditional centralised databases, which rely on a single authority for control, blockchain operates on a network of computers, or nodes, that work together to maintain a shared and continuously updated record of transactions and data.

One of the central features of blockchain is its decentralised nature. Instead of a single entity governing the database, multiple participants in the network validate and record transactions. Each participant, or node, holds a copy of the entire blockchain, ensuring transparency and redundancy. This decentralisation is a key factor in blockchain’s security and resilience against tampering or data loss.

In addition to decentralisation, blockchain ensures security through advanced cryptographic techniques. Transactions on the blockchain are securely encrypted, making it extremely difficult for unauthorised parties to alter or access the data. Each transaction is grouped into a “block” and linked to the previous block in a chronological chain, creating a secure and immutable ledger. Once data is added to the blockchain, it becomes nearly impossible to change, enhancing trust and reliability.

What Are The Benefits of Investing in Cryptrocurrency?

Whilst it’s essential to recognise that the cryptocurrency market is highly volatile and speculative,  investing in cryptocurrency has gained popularity due to several potential benefits. Here are some of them:

  • Potential for High Returns: Cryptocurrencies have the potential for substantial price appreciation over a short period. Historically, some early investors in cryptocurrencies like Bitcoin have experienced significant gains.

  • Diversification: Cryptocurrencies offer a new asset class for diversifying investment portfolios. They may not be correlated with traditional financial markets, providing a hedge against market volatility.

  • Accessibility: Cryptocurrency markets are open 24/7, allowing investors to trade at their convenience. This accessibility can be particularly appealing to those who prefer trading outside traditional market hours.

  • Decentralisation: Cryptocurrencies operate on decentralised blockchain technology, reducing the control of central authorities like governments and banks. This appeals to those who value financial independence and privacy.

  • Security: The blockchain technology underlying cryptocurrencies is designed to be secure and resistant to fraud. Transactions are recorded in a tamper-resistant ledger, enhancing the security of digital assets.

  • Global Reach: Cryptocurrencies can be transferred globally with relative ease and speed, making them suitable for international transactions and remittances.

  • Innovation: The cryptocurrency space is continually evolving, with ongoing developments in blockchain technology, decentralised finance (DeFi), non-fungible tokens (NFTs), and more. Investing in cryptocurrencies can provide exposure to innovation and emerging technologies.

  • Ownership and Control: Cryptocurrency investors have full ownership and control of their assets. They can manage their wallets, private keys, and transactions without relying on third parties.

  • Liquidity: Many cryptocurrencies are highly liquid, meaning they can be quickly bought or sold on various exchanges. This liquidity can be advantageous for active traders.

  • Portfolio Growth: Some investors believe that cryptocurrencies have the potential to grow into mainstream assets, similar to gold or traditional currencies. Investing in cryptocurrencies could be seen as a long-term strategy for portfolio growth.

However, now we know some of the benefits, it is essential to not ignore the drawbacks and risks that can come with this type of asset.

Alright, Tell Me The Drawbacks of Investing in Cryptocurrencies

One of the most notable drawbacks of investing in cryptocurrencies is their extreme price volatility. Unlike traditional assets like stocks or bonds, cryptocurrency prices can experience wild fluctuations in a matter of minutes or hours. While volatility can present trading opportunities for some, it also means higher risk. Investors may see significant gains, but they can just as easily experience substantial losses.

In addition, there is currently a lack of robust regulation in place. Whilst there are plans to introduce regulations in the future in many countries, this can currently lead to various issues, including market manipulation, fraud and scams. Investors are susceptible to becoming a victim to such schemes due to the lack of comprehensive investor protections in place.

A common type of scam in the cryptocurrency space is colloquially referred to as a “pump and dump” scheme, whereby the price of a particular cryptocurrency is artificially inflated (pumped) by a group of individuals or coordinated efforts. Once the price has been driven up to a certain level that benefits the individuals, the same group then sell off their holdings at a profit (dump), leaving other investors with overpriced or worthless assets. Such market manipulation is a serious concern, especially for those with less knowledge about cryptocurrency.

Having mentioned knowledge levels, successful cryptocurrency investing usually requires a solid understanding of blockchain technology, secure wallet management, and best practices for safeguarding assets. 

Investors who lack this knowledge may make costly mistakes, which leads us to the next point about the emotional stress that such volatile markets can cause to an investor. Price swings can trigger fear and greed, both of which influence decision-making. Emotional reactions may lead to impulsive actions and financial losses.

The extreme volatility and emotional impacts associated with cryptocurrency investments often draw comparisons more alike to gambling rather than traditional investing. In the world of cryptocurrencies, price swings of 10% or more within a single day are not uncommon occurrences. Investors may find themselves chasing quick profits or panic-selling during market downturns, behaviors often associated with gamblers rather than calculated investors.

The speculative nature of many cryptocurrencies, which lack intrinsic value and rely heavily on market sentiment, can also make the experience akin to placing bets in a casino. Thus, it is crucial for individuals considering cryptocurrency investments to recognize these factors, understand their risk tolerance, and approach the market with caution and a well-thought-out strategy rather than relying on speculation or emotions.

I Know The Risks, But Still Want to Buy Cryptocurrency. How Do I Do it?

To buy, sell, and trade cryptocurrencies, you’ll need to use a cryptocurrency exchange. Select a reputable exchange with a user-friendly interface, strong security measures, and a good track record. Some popular exchanges include Coinbase, Binance, Kraken, and Bitstamp.

Next, sign up for an account on your chosen cryptocurrency exchange. You may need to provide personal information and complete identity verification steps, depending on the exchange’s regulatory requirements. You will also need a cryptocurrency wallet as this is essential for securely storing your digital assets. There are two main types of wallets: hardware wallets (physical devices) and software wallets (applications or online platforms). Hardware wallets are generally considered more secure for long-term storage, while software wallets offer convenience for active trading.

Once you have funded your account on your chosen exchange, you can then start buying cryptocurrencies.

How Much of My Portfolio Should I Have in Cryptocurrency?

There is no universally recommended cryptocurrency allocation, but some financial experts suggest that a small allocation (e.g., 1% to 5%) of your total investment portfolio may be appropriate. On the other hand, some financial experts suggest between 5% and 20% of your portfolio, so you don’t often find a concrete answer to this question.

Additionally, for those with long-term strategies in place, having no cryptocurrency at all may also be advisable due to the highly volatile nature of cryptocurrency being unsuitable, or even simply unwanted, for a large percentage of investors.

Ultimately though, your cryptocurrency allocation should align with your overall financial plan and risk tolerance. It’s essential to regularly review and adjust your portfolio to ensure it remains in line with your financial objectives and changing market conditions, which is true for any type of investment.

Navigating The Ever-Changing Cryptocurrency Landscape

Patterson Mills believe in providing our clients with comprehensive financial guidance that encompasses all investment options. Our team of experts can offer you the knowledge and strategies needed to make informed decisions that align with your financial goals and risk tolerance. Whether you choose to venture into the world of crypto or explore more traditional investment avenues, we are here to guide you.

So, get in touch to book your initial, no-cost and no-obligation meeting. Or, send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Below you can see the performance history of Bitcoin and Ethereum, two of the most well-known cryptocurrencies.

Bitcoin Performance History (USD) to 11/09/2023*
Ethereum Performance History (USD) to 11/09/2023*

At the present moment, Patterson Mills do not utilise cryptocurrency in our investment management recommendations. However, as wholly independent Advisers, should any of our clients wish to individually include cryptocurrency in their portfolio, we are able to provide assistance on request.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.

*Performance Data from CoinDesk, 2023


The Strength of the Swiss Franc

The Strength of the Swiss Franc

“The Swiss franc is a better bet than gold and the Swiss economy more solid than the granite face of the Matterhorn” — Paul Bilton

4 min read

The Strength of the Swiss Franc

“The Swiss franc is a better bet than gold and the Swiss economy more solid than the granite face of the Matterhorn” — Paul Bilton

4 min read

The Swiss Franc, symbolised as CHF, stands as one of the world’s most robust and stable currencies. Its strength is a result of several intertwining factors, collectively shaping its unique status in the global financial arena. Read on to find out exactly what they are.

Economic Stability

Switzerland’s reputation for economic stability is a cornerstone of the Swiss Franc’s strength. The country boasts a well-developed and diversified economy that spans various sectors, including finance, pharmaceuticals, and manufacturing. With consistently low unemployment rates and a robust GDP per capita, Switzerland enjoys a level of economic prosperity that inspires confidence in investors and central banks alike. Additionally, the Swiss economy’s resilience during global economic crises underscores its stability, further enhancing the appeal of the Swiss Franc.

Sound Monetary Policy

The Swiss National Bank (SNB) plays a pivotal role in maintaining the Franc’s strength. Its prudent monetary policy decisions encompass a range of measures, from interest rate management to strategic interventions in the currency market. These actions are meticulously designed to preserve both price stability and economic equilibrium. By consistently adhering to these principles, the SNB has earned a reputation as a trusted guardian of the Swiss Franc. Its unwavering commitment to sound policy not only stabilizes the currency but also bolsters its global credibility.

Safe-Haven Status

In times of global turbulence, the Swiss Franc assumes a role of paramount importance as a safe-haven currency. Its enviable stability and Switzerland’s longstanding reputation for neutrality make it an exceptionally appealing choice for investors seeking refuge during economic or geopolitical crises. The Swiss Franc’s safe-haven status is further underscored by the nation’s robust financial regulations, which prioritize investor protection and market integrity. This heightened demand during uncertain times can lead to increased value for the Franc, reinforcing its stature as a safe harbor.

Strong Banking Sector

Switzerland is renowned for its world-class banking and financial services industry. The country’s stringent banking regulations, combined with its commitment to financial privacy, have attracted individuals and businesses from around the world. This influx of capital not only fuels Switzerland’s financial sector but also contributes significantly to the strength of the Swiss Franc. The trust placed in Swiss banks and their expertise in wealth management further enhances the currency’s appeal, making it an asset of choice for both domestic and international investors.

Trade Surpluses

Switzerland consistently maintains trade surpluses, exporting more goods and services than it imports. This consistent trade surplus results in a steady influx of foreign currency into the country, thereby increasing the demand for the Swiss Franc. This perpetual cycle of trade balance strengthens the Franc’s value, underlining its role as a resilient and sought-after currency in the international arena. The surplus generated by Switzerland’s exports contributes significantly to the nation’s economic well-being and financial stability.

Political Stability

Switzerland’s long-standing political stability is another cornerstone of the Swiss Franc’s strength. The country’s system of direct democracy, characterized by frequent referendums and a tradition of consensus politics, creates an environment of remarkable predictability and security. This political stability enhances the Franc’s appeal as a reliable currency, especially during times of global uncertainty. Switzerland’s ability to maintain political harmony and neutrality further cements its reputation as a safe harbor for investors.

Low Inflation

Switzerland boasts a low and stable inflation rate, a critical factor in preserving the purchasing power of the Swiss Franc. Investors are drawn to currencies that consistently retain their value over time, and the Swiss Franc is no exception. The nation’s prudent monetary policies and effective price stability measures contribute to its remarkable record of maintaining inflation at bay. This low inflation environment not only safeguards the Franc’s worth but also solidifies its reputation as a currency of enduring strength.

High-Quality Exports

Switzerland’s reputation for producing high-quality exports is a driving force behind the Swiss Franc’s strength. These exports encompass a wide array of industries, including pharmaceuticals, machinery, luxury goods, and financial services. Swiss-made products often command premium prices in international markets, generating substantial revenue streams in foreign currencies. This continuous demand for Swiss exports bolsters the Swiss Franc’s value, reinforcing its position as a formidable global currency.

Strategic Location

Switzerland’s central location in Europe, combined with its robust trade relationships with neighboring countries, positions it as a pivotal hub for international commerce. This strategic significance is a compelling factor that contributes to the Swiss Franc’s prominence in the global financial system. The ease of conducting cross-border transactions and the nation’s role as a financial intermediary further elevate the currency’s standing in international finance.

Financial Expertise

The Swiss have cultivated a profound and enduring legacy of financial expertise that spans generations. Their unparalleled acumen in wealth management, banking, and finance is deeply rooted in the nation’s history. This expertise is a magnet for investors and financial institutions seeking the highest levels of competence and reliability. The application of Swiss financial wisdom not only adds to the appeal of the Swiss Franc but also reinforces Switzerland’s status as a global financial powerhouse.

Invest in Switzerland

The enduring strength of the Swiss Franc arises from a dynamic interplay of economic stability, sound monetary policy, safe-haven status, a robust banking sector, trade surpluses, political stability, low inflation, high-quality exports, strategic location, and unparalleled financial expertise. These factors collectively establish the Swiss Franc as a symbol of Switzerland’s unwavering commitment to financial excellence and stability in the global financial landscape.

If you are thinking about investing in Switzerland, make sure you do it with the right expertise behind you and talk to Patterson Mills, today.

Get in touch to book your initial, no-cost and no-obligation meeting. Or, send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.


Personality Traits of the Self-Made Millionaire

Personality Traits of the Self-Made Millionaire

“As you start your journey, the first thing you should do is throw away that store-bought map and begin to draw your own.” – Michael Dell, CEO of Dell Inc.

2 min read

Personality Traits of the Self-Made Millionaire

“As you start your journey, the first thing you should do is throw away that store-bought map and begin to draw your own.” – Michael Dell, CEO of Dell Inc.

2 min read

In the first study of its kind1, researchers have distinguished the personality traits most common among self-made millionaires versus those who have inherited their wealth.

The study analysed a sample of wealthy individuals according to the so-called ‘Big Five’ personality traits: 


(curious vs cautious)


(efficient vs disorganised)


(outgoing vs reserved)


(friendly vs uncaring) 


(confident vs anxious)

The Results

The results showed that wealthy individuals across both categories tended to show a similar personality profile, being open to new experiences, extroverted, conscientious, agreeable and demonstrating low levels of neuroticism. They were also shown to be more risk tolerant than the average population. 

Interestingly, the study revealed that self-made millionaires more closely match this personality profile than inheritors – and that this becomes more pronounced the wealthier they are. 

The report concluded that people with this unique combination of personality traits have a higher chance of becoming rich via their own means. The good news – if you don’t match this specific profile – over the years many studies have also shown that taking financial advice can result in heightened wealth accumulation. 

If you are looking to accumulate wealth over time or become your own self-made millionaire, taking financial advice is an essential step to ensure you are on the right path.

So, get in touch today and book your initial, no-cost and no-obligation meeting with one of our Patterson Mills Advisers.

Fill out our contact form, send us an e-mail to or call us direct at +41 21 801 36 84.

1Humanities & Social Sciences Communications, 2022