What to Do When You’re Behind on Your Retirement Savings

What to Do When You’re Behind on Your Retirement Savings

“It is never too early to encourage long-term savings” ― Ron Lewis

3 min read

Retirement Savings Shortfall: What to Do If You Are Behind

What to Do When You’re Behind on Your Retirement Savings

“It is never too early to encourage long-term savings” ― Ron Lewis

3 min read

Facing a retirement savings shortfall can be daunting, but it’s essential to tackle the issue head-on and take proactive steps to bolster your retirement savings.

Whether you’re nearing retirement age or still have several years left in the workplace, there are strategies you can implement to bridge the gap and secure a comfortable retirement.

Assess Your Current Financial Situation

Naturally, you need to know how far behind you may be!

This means the first step in addressing a retirement savings shortfall is to assess your current financial situation comprehensively.

Take stock of your retirement accounts, including pension plans such as the three Pillars (in Switzerland), your SIPPs or ISAs (in the UK), or 401(k)s or IRAs (in the US), and any other investment vehicles you may have.

Calculate your total savings balance and compare it to your retirement goals to determine the extent of the shortfall.

Additionally, evaluate your current expenses and budget to identify areas where you can cut costs and redirect funds towards retirement savings.

Great, you’ve completed the first step. Now what?

Read below to find out the steps you can take to increase your chances of enjoying a comfortable and enjoyable retirement!

Delaying Retirement

Delaying retirement can be a strategic move that involves extending your working years.

Essentially, this provides you more years to earn income, contribute to your retirement accounts and grow your investments.

Delaying retirement can also increase your State / Social benefits, too, as they are often calculated based upon your earnings history and the age at which you begin to receive them. For each year your State pension is deferred, you will likely find that the benefits you receive could increase by a certain percentage each year (up-to a maximum age set by the country in which you reside).

In parallel to having more years to earn income, you also reduce the number of years you will need to rely on your retirement savings! Thus, you have extra opportunities to pay off debts, such as mortgages or loans, and reinforce your financial situation.

However, whilst this may not be the ideal scenario for everyone, it can be a practical solution for those looking to boost their retirement savings over the long-term.

Additional Income Sources

Exploring additional income sources can be highly effective in bridging the gap caused by a retirement savings shortfall.

This could involve taking on part-time employment, freelancing, or starting a business you can do in addition to your full-time job to generate supplemental income.

By diversifying your income streams, you can increase your overall cash flow and allocate additional funds towards your retirement savings. This in turn can provide a sense of financial security and peace of mind, knowing that you have alternative avenues to support your retirement lifestyle.

Review Retirement Goals

When faced with a retirement savings shortfall, it’s crucial to reassess your retirement goals and expectations.

This involves carefully evaluating your desired retirement lifestyle, including factors such as travel plans, hobbies, healthcare needs, and living arrangements.

This method would include reducing the income you take and your planned expenditure (as listed above).

By undertaking this review, you can identify areas where adjustments may be necessary to align with your ‘financial reality’.

Downsizing or Relocating

Options like downsizing or relocating can be an integral part of alleviating financial strain.

Downsizing involves reducing the size or cost of your current living arrangements, whether by moving to a smaller home, selling excess possessions, or cutting down on unnecessary expenses in this area.

By downsizing, you can free up funds that can be redirected towards bolstering your retirement savings or covering essential expenses.

Relocating to a more affordable area is another strategy to consider as moving to a region with a lower cost of living can stretch your retirement savings further, allowing you to maintain a comfortable lifestyle without depleting your resources too quickly.

Researching potential relocation destinations and assessing factors such as housing affordability, healthcare access, and overall quality of life can help you make an informed decision about whether relocating is a viable solution for your retirement savings shortfall.

Talk to the Experts at Patterson Mills

Overall, it can be a scary thought when facing a retirement savings shortfall. However, with expert assistance from Patterson Mills, you can take the necessary steps to begin correcting your situation with ease.

Remember, we are here to help you navigate the complexities of retirement planning and develop a tailored strategy to achieve your retirement goals.

Get in touch with us today and book your initial, no-cost and no-obligation meeting.

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 content within this article has been prepared for information 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.


What Will Your Income Be During Retirement? The 4% Rule

What Will Your Income Be During Retirement? The 4% Rule

“Don’t simply retire from something; have something to retire to” ― Harry Emerson Fosdick

3 min read

The 4% Rule - How Much Can You Withdraw From Your Portfolio During Retirement

What Will Your Income Be During Retirement? The 4% Rule

“Don’t simply retire from something; have something to retire to” ― Harry Emerson Fosdick

3 min read

The 4% Rule is a principle in retirement planning that offers a systematic approach to managing withdrawals from you investments during your golden years. It revolves around the idea that withdrawing 4% of your initial retirement portfolio annually provides a sustainable income for at least 30-years.

Understanding the mathematics behind this rule can be highly useful when looking at financial stability in retirement, and that’s exactly what we are going to do! Find out if this rule can be helpful for your planning by reading below.

Decoding the Maths

The 4% Rule is based on a simple formula. For example, if you have a 1 million retirement portfolio, you would withdraw 40,000 in the first year of retirement. Subsequent withdrawals would adjust for inflation, ensuring a consistent real income over time. This strategy therefore aims to balance the need for regular income with the desire to preserve capital for an extended retirement period.

The mathematical foundation of the 4% Rule provides a structured approach, but it’s essential to recognise that individual circumstances vary and it is common to spend more in your earlier years of retirement, and less in your later years.

Considerations and Adjustments

Whilst the 4% Rule can provide a useful framework, it’s not a one-size-fits-all solution and should be taken with a grain of salt.

Factors such as inflation rates, your investment returns, anticipated lifespan, healthcare expenses, and lifestyle choices can greatly influence the efficacy of this rule. Hence, you should really view the 4% Rule as more of a starting point, that requires ongoing reviews and adaptation to your lifestyle, than the final answer to the question “how much income should I take in retirement”.

Balancing Risk and Reward

The important point to note is that you must strike a balance between enjoying your retirement and safeguarding against longevity risk. The 4% Rule offers a compromise, providing a steady income stream whilst preserving the potential for portfolio growth. However, the rule’s success hinges on a diversified investment portfolio that can weather market fluctuations. As such, regular (at least once per year) portfolio reviews with your Patterson Mills Financial Adviser can help align your investments with your risk tolerance, ensuring a balanced approach to risk and reward.

Your Path to a Secure Retirement Starts Here

It’s true that the 4% Rule is not useful for everyone. However, if you are unsure of what to do, it can be a useful guide to start. In reality, the path to a secure retirement is best traveled with a knowledgeable guide. Your financial wellbeing deserves the attention of a dedicated professional, and Patterson Mills is here to ensure that you benefit from every aspect of the retirement planning process. Make the call today and step into a future of financial confidence and prosperity.

Get in touch with Patterson Mills 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.

Financial Planning

Managing Market Volatility in Your Retirement Portfolio

Managing Market Volatility in Your Retirement Portfolio

“Markets love volatility” ― Christine Lagarde

5 min read

Market Volatility in Your Retirement Portfolio

Managing Market Volatility in Your Retirement Portfolio

“Markets love volatility” ― Christine Lagarde

5 min read

Investments are often compared to a rollercoaster ride. Market volatility, the ebbs and flows of financial markets, can often cause anxiety among investors, triggering concerns about the stability of their retirement savings. Yet, in the world of long-term investments like those earmarked for retirement, understanding the nuances of market volatility is crucial.

Whilst the financial markets may experience unpredictable fluctuations, retirement planning requires a different lens. Unlike shorter-term financial goals, such as buying a house or funding education, retirement is a marathon, not a sprint. This prolonged duration allows you to have a broader perspective, offering the luxury of time to weather the storms of market volatility. 

Today, we are looking into the dynamics of managing market volatility within the context of your retirement portfolio to acknowledge the importance of embracing a long-term outlook amidst short-term market fluctuations.

What is Market Volatility?

It’s important to know what you are dealing with. Market volatility refers to the erratic price movements within financial markets, characterised by fluctuations in asset prices.

In simple terms, it is the up and down movements of your portfolio value. To illustrate this, if your portfolio is worth 1’000 one day, 650 the next and finally 1’400 the next, it would therefore be much more volatile than a portfolio worth 1’000 one day, 980 the next and finally 1’050. Your final 3-day gain is less with the second example, but you likely managed to avoid a panic attack in the process!

Such shifts can be driven by various factors, including economic indicators, geopolitical events, or even psychological sentiments (emotions) of investors. Understanding its causes involves acknowledging the intricate interplay of supply and demand dynamics, global economic trends, interest rates, and political developments.

Importantly, these fluctuations are a natural part of financial markets and, whilst this instability can create anxiety, it’s crucial to recognise that market volatility is an inherent part of investing. It means that whilst it is likely your portfolio can lose value, with a well-thought-out strategy, the aim is to create a profitable portfolio over the longer-term. 

When investing for retirement, ensure you grasp the fact that short-term market movements shouldn’t overshadow the long-term strategy crafted for your retirement goals.

Time Horizon in Retirement Planning

When it comes to retirement planning, your time horizon is often significantly longer compared to other financial objectives. Unlike goals such as buying a house or saving for a holiday, retirement planning spans several decades for many. This extended timeline provides a crucial advantage: it allows you to weather short-term market fluctuations without causing significant disruptions to their long-term financial plans. 

Unlike shorter-term goals, retirement planning isn’t tied to immediate liquidity needs, affording you the flexibility to ride out market volatilities.

Additionally, short-term market volatility tends to smooth out over the long haul. Whilst market dips and spikes might seem concerning in the short term, historical trends have shown that markets have generally trended upwards over extended periods. For retirement planning, this means that temporary market downturns don’t necessarily translate to long-term losses. However, historical trends do not necessarily translate into future returns. Therefore, by maintaining a focus on your overarching retirement strategy and staying invested for the long term, you could benefit from the potential growth opportunities markets offer without getting deterred by short-term fluctuations.

Strategies for Mitigating Volatility

Diversification remains a cornerstone strategy in managing market volatility within a retirement portfolio (and other portfolios you may hold, too). Spreading investments across various asset classes, such as stocks, bonds, real estate, and alternative investments, helps dilute risk. This is because different assets tend to perform differently under various market conditions, so when one asset class experiences a downturn, others might remain stable or perform well. This strategy aims to cushion the impact of market swings on your overall portfolio and can potentially reduce overall risk exposure.

Regularly rebalancing the portfolio is equally vital. Over time, market fluctuations can alter the original allocation of assets in a portfolio. Rebalancing involves adjusting the portfolio back to its initial asset allocation, ensuring that it aligns with your risk tolerance and long-term goals. By selling some assets that have performed well and reallocating the proceeds to underperforming ones, you can maintain your desired risk-return profile.

Moreover, staying informed about market trends and economic indicators is crucial. However, it’s essential to differentiate between short-term market noise and long-term trends. Continuous monitoring and staying informed about relevant news can help you make informed decisions. Yet, it’s equally important not to react impulsively to short-term market fluctuations, as these might not necessarily reflect the long-term performance of the portfolio. This balance allows you to remain informed without being swayed by the day-to-day market noise, promoting a steadier approach to managing market volatility in the retirement portfolio.

Psychological Aspects of Market Volatility

The emotional toll of market volatility you experience throughout your investment timeline can be significant. Fluctuations can trigger fear, anxiety, and panic, leading to hasty decisions that might not align with long-term financial objectives. Impulsive reactions to short-term market swings often result in buying or selling assets at inopportune times, potentially locking in losses or missing out on gains when the market rebounds.

Maintaining a disciplined approach during times of volatility is crucial. Creating a well-thought-out investment strategy aligned with long-term goals can provide a roadmap for you to navigate through market turbulence. Equally, educating yourself about historical market cycles and understand that market downturns are part of the investment journey. Doing so can instill confidence and prevent knee-jerk reactions.

Where Do You Start?

If you are unsure of where to start when it comes to formulating an investment strategy, staying informed about market events, or want to know more about the risks you may face, Patterson Mills Financial Advisers can play a pivotal role in assiting you in navigating the complexities of retirement planning amidst market volatility. 

The expertise of our Advisers enables them to assess your risk tolerance, time horizon, and financial objectives comprehensively. Following this, you can receive your bespoke investment strategy(ies) that aligns with your unique circumstances.

Your Future, The Right Way

During periods of market volatility, consulting with a Patterson Mills Financial Adviser becomes even more valuable. We are here to give you a steady hand, offering perspective and advice that can prevent knee-jerk reactions to short-term market fluctuations and ensure you have the best possible chance of success.

So, get in touch 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.


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.


Time for a Retirement Reboot?

Time for a Retirement Reboot?

“Retirement means doing whatever I want to do. It means choice.” – Dianne Nahirny

2 min read

Time for a Retirement Reboot?

“Retirement means doing whatever I want to do. It means choice.” – Dianne Nahirny

2 min read

Once you retire, how will you replace your income to maintain your current standard of living?

Nowadays there are more choices open to you than ever before when it comes to your retirement. This means there are more things you need to consider and have a plan for, like how to manage your finances to provide the income you’ll need to live on, how you’ll transition into full retirement and what lifestyle you want to enjoy in your later years.

Our Top Considerations

One of the biggest mistakes people can make is not saving enough for retirement. Our top 10 considerations in retirement are aimed at ensuring you have the ability to take control of your financial future. Knowing your destination helps you plan the best route to get there.

  1. Make a plan!
  2. When do you want to retire?
  3. Are there any ways you can reduce your tax liability?
  4. Can you continue working?
  5. Do you need to downsize?
  6. Have you planned for your long-term care needs?
  7. How much will you need to fund essential and non-essential spending in retirement?
  8. How much are you saving?
  9. When can you access your state benefits and how much will you receive?
  10. Have you taken the opportunity to receive trusted financial advice?

Planning is vital, and there is never a better time than the present. Work out what you spend each year now, when do you want to retire, how much of your spending is essential and how much is non-essential, and what lifestyle you wish to have in retirement. As a rule of thumb, it is often the case that people spend more in the earlier years of their retirement, and their spending reduces over time. It is important to take as many relevant factors as you can into account.

Your State Pension

In Switzerland, the pension system is split into 3 pillars. The 1st pillar is your state pension, the 2nd pillar is your occupational (workplace) pension, whilst the 3rd pillar is your private pension(s). The purpose of the Pillar 1 state pension is to provide you with a source of revenue to cover your basic financial needs.

Contributions are deducted from your gross salary as a percentage and are compulsory until you retire (age 64 for women, and 65 for men). Should you remain in Switzerland, you will receive the Pillar 1 pension as an annuity and does not have a transfer value (therefore, cannot be taken as a lump-sum). The amount you are paid is dependent mainly upon your years contributed, earnings, and the total value in your account. For the maximum allowance, men should contribute for 44 years and women for currently 43 years.

Reboot Your Retirement

We’re all leading busy lives and so it’s understandable if retirement plans have been placed on the back burner. If you are keen to revisit your plans and get them back on track so you can relax and fully enjoy your retirement years, there is never a better time than today, so please do get in touch. 

Get in touch today and book your initial, free, no-obligation meeting. Send us an e-mail to or call us direct at +41 21 801 36 84.


Your Retirement Matters

Your Retirement Matters

“Retirement is not the end of the road. It is the beginning of the open highway” – Unknown

2 min read

Your Retirement Matters

“Retirement is not the end of the road. It is the beginning of the open highway” – Unknown

2 min read

Today, things are evolving with immense speed. We are not only living longer, healthier, and more active lives, but we can often now decide when, how, and even if, we retire.

An important note to remember is that it is never too early to start thinking about retirement planning.

One of the most crucial things you can do is begin saving for your future. Though, worryingly, there are many of us who do not have a clear plan for what we want to get out of our retirement, and there are even more of us who may underestimate how much money is needed.

Questions for you

A useful start is to ask yourself these questions:

  1. How much money do I want to have saved by retirement?
  2. What kind of lifestyle do I want in retirement?
  3. What are my sources of income in retirement?

Essentially, the sooner you start saving and investing, the more time your money has to grow.

When you near retirement, the useful questions may change as you now have a clearer idea of what you have and what you will be able to afford.

You could now ask yourself:

  1. How long will my money last?
  2. Can I maintain my current lifestyle?
  3. Do I stay invested or do I draw an income?

As you may have noticed, it cannot be stated enough that the key to an enjoyable retirement is to start as soon as possible. This can save you the panic of being in a situation where you are not prepared for retirement.

Your Swiss pension

In Switzerland, your pension is structured in Pillars. There is the 1st Pillar, which is intended to cover basic needs, the 2nd Pillar, which is based on the contributions you make during your working life, and the 3rd Pillar, this being your private pension. The first 2 Pillars are compulsory, whilst the 3rd is not.

It is unlikely that the Pillar 1 and 2 pensions will provide sufficient income in retirement to support the lifestyle you envisage, and so the Pillar 3 pension helps to bridge that gap.

Unfortunately, there is no crystal ball for any of us to look ahead and know what is going to happen during our retirement. So, it is increasingly important to explore the different advantages offered by having an effective retirement strategy in place.

Never too late

There should never be an occasion where you think that it is ‘too late’ to begin saving for your pension. Even if you only have a small amount of money to put away each month, it will add up over time. In addition, with the right plans in place, you can make your money go further than you may initially think.

Investment is important

Investing is an effective way to put your money to work and provides you the opportunity to build your wealth. How to invest, and where to invest, can be slightly more complicated and has a lot to do with your personal circumstances and risk appetite.

Understanding the type of investor that you are is one of the first steps toward understanding what sort of investment approach is best for you.

We are here to help

Whether you are looking to save as much as possible to build up your pension pot, or you want your money to stretch as far as possible in retirement, it makes sense to have an efficient strategy in place. Having a solid retirement plan is vital for a worry-free future.

We can help you look at the right options for your retirement plans, investment strategies and more, tailored to your individual circumstances and objectives. To find out more and discuss your own situation, get in touch with us today.

Get in touch today and book your initial, free, no-obligation meeting. Send us an e-mail to or call us direct at +41 21 801 36 84.


Come Retirement, You Reap What You Sow

Come Retirement, You Reap What You Sow

“Some of the wealthiest people in the world became wealthy by saving money” – Doug McMillon

2 min read

Hindsight, they say, is a wonderful thing and that is certainly true for many retirees struggling financially. Diligent planning at the earliest opportunity, however, can make all the difference between enjoying a comfortable retirement and enduring a regretful one.

Retirement Regrets

Research constantly shows that people typically leave retirement planning too late and regret not saving more across their working lives. For instance, a survey1 recently revealed one in five people expect to leave planning for their retirement until they are aged at least 60. Another study2 found almost half of over-50s regret not saving into a pension sooner, while nearly two thirds wished they had made larger contributions at an earlier stage. These findings vividly highlight the need for more people to take control and prioritise retirement planning earlier in their working lives.

Pension Blind Spots

Other research3 has revealed the cost of being kept in the dark on key pension details, with over three-quarters of people not knowing how much they pay in pension fees. Additionally, a third of pension holders are unaware of their pension’s risk profile, with a similar proportion invested in low-risk funds. This lack of awareness in relation to fees and investment choices is estimated to cost an average pension holder around CHF 140’000 over their working life.

Engagement Gap

The lack of engagement has led to an industry campaign to boost people’s understanding of pensions. The campaign, which is due to run this autumn and winter, will aim to raise awareness of various pension-related issues so that more people can ultimately enjoy a better standard of living in retirement. Patterson-Mills completely supports this initiative and believes that one of the keys to a successful retirement is not just saving but financial education, too.

Help at Hand

While current everyday financial pressures can make saving a difficult task, it is clearly imperative not to neglect your pension if you do want to avoid retirement regrets. We can help you take control to ensure you are able to enjoy the happy and fulfilling retirement you deserve.

Get in touch today and book your initial, free, no-obligation meeting. You have nothing to lose and potentially lots to gain! Send us an e-mail to, call us direct at +41 78 214 84 32.

1Hargreaves Lansdown, 2022

2Aviva, 2022

3interactive investor, 2022


The 10 Worst Retirement Planning Mistakes

The 10 Worst Retirement Planning Mistakes

3 min read

Retirement planning should always be a top priority. More and more people are beginning to consider their own retirement, but the truth is that our retirement is often decided long before we even think about it.

See below my 10 worst retirement planning mistakes. With the appropriate advice, you will be able to avoid all of the below.

1. Underestimating Your Lifespan

It may be something that goes unconsidered, but nowadays it could well be that retirement lasts for 30 or more years. This then leads to the growing potential that people out-live their retirement savings. It is hugely important to take notice of your family history and other factors and make sure you take into account your own longevity to determine what steps to take before reaching retirement.

2. Underestimating Retirement Costs

Despite retirement being a wonderful, work-free, time of our lives (at least, that’s our aim!), it is possible that the lifestyle you currently have becomes out of your reach as prices rise, and your income does not, or you may find that you end up spending more in retirement than you thought. It could be simply that you want more than you initially planned for, so within your retirement plan it is important to take many factors into account to gain a rough idea of any potential increase in your spending.

3. Financial Scams

A common thought around scams is that it will never be you. However, no matter how careful you are, it is never a guarantee that you will not get caught out. No matter how rare, it is not impossible that you experience a misuse of your funds by an untrustworthy financial advisor, or even deceptive family members trying to take advantage of you. Make sure that you are also aware of healthcare scams, investment scheme scams, lottery scams and more. Remember, if it seems too good to be true, it probably is!

4. Ignoring Inflation

Inflation is a silent taxation on our wealth. Slowly eroding it as time goes on. Even a small increase in inflation, hardly noticeable in the short term, can be of great detriment to your spending power in the future. Over a long period of 15 or 20 years, there could be the potential of your purchasing power being halved. It is certainly something you should allow for in your future retirement plan.

5. Paying Over the Odds

Excessive fees are something we strive to avoid. Throughout your lifetime, fees really can add up and make a dent in your pocket. Often, what looks on the surface a small difference, e.g. between 1% and 2%, can end up making all the difference in the long-run. It is of paramount importance to have regular reviews to ensure your costs are as low as possible.

6. Age-Based Risk Profiling

“Lifestyling” or “Lifestyle Funds” refers to reducing the risk of your portfolio as you get closer to retirement, along with other assumed factors. It aims to lock-in the investment gains you have already made throughout your life so you can comfortably retire. This sounds good in theory, and may well be suitable for some, though, as with everything, it is not without risk. As much as we wish it, there is no ‘one size fits all’ formula. It might even be your spouse or children that you were planning to have benefit from your investments, so the best decision is certainly to seek trusted financial advice to find the solution that works best for you.

7. Not Rebalancing Regularly

Rebalancing is essential to the future of your wealth. It ensures that your assets remain within your agreed risk level without ever straying too far from the path and can optimise gains already made. Of course, over-rebalancing exists, so it is important to not avoid over-rebalancing. Approximately 2-4 times per year is a good amount for most portfolios.

8. Attempting to Predict the Market

Trying to find the perfect time to withdraw from, or enter into, the market will often come up short of your expectations. Nobody knows for certain exactly what is going to happen in the next few years, or even the next few weeks, so the best route is making informed decisions from high-quality analysis using trusted advice. Cumulative returns can be seriously harmed if your prediction turns out to be wrong.

9. Not Talking to a Financial Professional

The complexities of today’s financial systems are simple when it is your day job, but the reality is that the majority of people do not have the time to spend their few hours of relaxation a day researching the latest changes in the system. Of course, it is not impossible to do, but as with most things there are often rules that you might miss. It is essential to contact a financial professional to ensure your retirement plan and financial future is as secure as possible, and if not, to make it so. After all, that is what we are here for.

10. Not Getting Around to it

This may seem obvious, though unfortunately it is more common than you may think. Retirement is often overlooked as it is ‘so far’ into the future that you do not consider it, or you believe that your respective State pension will suffice. It is important to note that State pension benefits often leave a gap in your income. Therefore, it is essential that you begin sooner rather than later as every day you wait is one more day that you will be playing catch-up in retirement. You might miss out on investment returns, end up not having enough money in retirement, or simply miss out on compound interest. Either way, one thing remains certain, begin sooner rather than later.

Here to Help

We are here to take the stress out of retirement planning. Get in touch today and book your initial, free, no-obligation meeting. You have nothing to lose and potentially lots to gain! Send us an e-mail to, call us direct at +41 78 214 84 32.

Pensions Protection

Protect Your Retirement From the Risk of Mental Decline

Protect Your Retirement From the Risk of Mental Decline

"Retirement: That's when you return from work one day and say, 'Hi, Honey, I'm home—forever'"

3 min read

Retirement – that magical time when we can finally live our lifelong dreams. Increased life expectancy means that many of us can now expect a longer retirement, but this comes at a cost: the increasing prevalence of age-related cognitive decline, which could leave us vulnerable to costly financial errors.

According to the Alzheimer’s Society1, estimates suggest that between 5% and 20% of over-65s suffer from mild cognitive impairment (MCI), a condition in which someone has minor problems with cognition, such as memory or thought process.

Protecting your finances

Planning for the possibility of cognitive decline is an essential part of preparing for retirement. Although many people still have the capacity to live independently and make decisions for themselves, MCI has been linked in scientific studies to poorer financial capacity and an increased susceptibility to scams.

Getting the timing right

Over 80% of investors surveyed2 thought the ideal time to transfer financial control would be ‘sometime after they had begun to experience some cognitive decline but before they became completely incapable.’ Respondents thought there was a higher than one-in-three chance of a mistimed transfer, partly attributable to a reluctance to relinquish control, which exemplifies the need to start planning sooner rather than later, so that any future transfer takes place on your terms.

Opening up conversations

Although it may feel awkward, preparing for the possibility of cognitive decline requires careful planning, not only having legal documents in place but also starting conversations with your family and those you trust about money and your goals for the future, in advance of its possible onset. This means that everything is out in the open and close connections are more likely to notice if you begin making decisions about your money that appear to contradict your objectives.

We can assist you with planning and in starting these conversations with your family well in advance and help you better plan for the future, giving you a greater sense of ownership and control over your plans.

Get in touch today and book your initial, free, no-obligation meeting.

You have nothing to lose and potentially lots to gain!

Send us an e-mail to, call us direct at +41 78 214 84 32, or fill in our contact form below.

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1Alzheimers Society, 2019

2Vanguard. 2021