Discover the habits that make the Swiss some of the richest people in the world—and how you can apply them to your own financial journey.
When we think of the wealthiest countries and where you can find most millionaires, the average guess is usually the United States.
But here’s something you might not know: you should be looking at Switzerland. That’s right. Imagine living in a country where nearly 1 in 7 adults is a millionaire. That’s life in Switzerland—a place where wealth is the norm, not the exception.
14.9% of the population in Switzerland are millionaires, and that’s 5 times higher than the US! Did we forget to mention that they have 1 billionaire for every 80,000 people? Seriously, what’s their secret?!
At first glance, you might think it’s all about Switzerland’s famous banking system or their neutrality. But there’s more to it than that. The truth is, the Swiss approach to money is radically different—and it’s something we can all learn from. Curious?
Let’s take a closer look at the habits that have turned so many Swiss citizens into millionaires.
1. They Rent for Life (And They Love It)
Surprising but true: Only 41%* of Swiss adults own their homes. Contrast that with 65% in the US. But why? Swiss millennials aren’t chasing the dream of homeownership. Instead, they’re funnelling what they would spend on a mortgage into high-yield investments.
Imagine renting for life—not because you can’t afford to buy a home, but because you’re focused on growing your wealth through other means. The Swiss have figured out that investing in assets that grow over time beats tying up all their money in property. The result? A higher return on investment and more financial flexibility.
*The numbers have varied over the years and according to different sources, but by and large, the Swiss have remained the biggest renters
2. They Treat Saving Like a Bill
Ever heard the phrase, “Pay yourself first”? The Swiss live by it. They don’t save what’s left after spending; they spend what’s left after saving. By automating 20-30% of their income directly into savings before they even think about spending, they remove the temptation to overspend.
It’s not about willpower—it’s about having a system in place. Imagine treating your savings as a non-negotiable bill. You’d never skip paying your rent, so why skip paying yourself?
3. They Invest in Themselves
The average Swiss adult spends 5-10% of their income on education and skills every year. They’re not necessarily chasing degrees; they’re targeting high-value skills—think languages, tech skills, and financial literacy.
Picture this: Instead of just working hard, you’re constantly improving your value in the job market. Whether it’s learning a new language or mastering a tech skill, this investment in yourself pays off in the long run. It’s about staying ahead in a competitive world.
4. The “Multi-Bank Strategy”
Swiss millionaires are known for their multi-bank approach. Instead of putting all their eggs in one basket, they typically use 3-5 different banks for various purposes.
Why? It’s all about mitigating risk and maximizing opportunities. For instance, they might use a local bank for daily transactions, a private bank for wealth management, and an international bank for foreign exchange. By leveraging each bank’s unique strengths, they ensure their money is working as efficiently as possible.
5. Master “Stealth Wealth”
Swiss millionaires aren’t flashy. You won’t see them flaunting designer logos or driving the latest fancy cars. They live below their means, reinvest the difference, and focus on building long-term wealth.
This isn’t about deprivation—it’s about smart choices. Remember, looking rich is often the quickest path to financial trouble. By practicing stealth wealth, the Swiss are safeguarding their wealth and avoiding unnecessary risks.
6. The “Global Citizen” Approach
Swiss investors think beyond their borders. They diversify not just in assets but in residency and citizenship as well. Many hold second passports or residencies in other countries, which opens doors to more financial opportunities and tax optimizations.
Consider this: By having options outside your home country, you can tap into new markets, enjoy better tax rates, and secure your wealth against local economic downturns. It’s a strategy that requires patience but pays off in the long run.
7. Long-Term Thinking
Perhaps the most important lesson of all is the Swiss focus on long-term wealth building. They’re not interested in get-rich-quick schemes. Instead, they’re building generational wealth—wealth that will last for their children and grandchildren.
This long-term mindset is what sets them apart. By automating savings, living below their means, investing in skills, and thinking globally, the Swiss are setting themselves up for financial success not just today, but for generations to come.
So, What’s the Takeaway?
The Swiss millionaire mindset is something we can all learn from. It’s about making smart, informed decisions and focusing on the long game. Are you ready to start running your marathon to financial success?
