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you are not happy with a fund, you can switch at any time you want.

Gestion piloté: If you are not willing to trust me or yourself to choose your funds, you can let Swiss Life manage it for you. You can choose between 6 types of investment from very low risk to high risk. Swiss Life adjust the investments following their own expert advisers, so you have nothing to do. You can also choose to have both, meaning part of your investment on “gestion piloté” and some on “gestion libre” (as you wish).

Securisation du capital: You can choose to make sure that your beneficiaries will get at least the amount you have invested to start with so 100% or 120% of what you have invested. So, if the market crashes, you are sure that your heir will get at least what you wanted them to have or more! You invested 100K but lost 10K, you die, then your beneficiaries still get 100K and not 90K.

Stop loss option: This is an option that means that when your shares/funds go down by at least 1 000€, the fund is automatically transferred to the secure part of your assurance vie. You can choose between 10% and 100% of loss but the loss has to be at least 1 000€.

Fees:

Entry fees: The entry fee is normally 4.75% of the amount invested but I am very nice, so I negotiate. If you invest at least 30% in shares, there is a 0.5% entry fee! If no shares at all, 2.5% entry fee. Obviously, if the amount is really big, I can take a 0 entry fee.

Management fees: 0.65% of the investment per year on the secured part (Fond euro). And 0.96% on the investment made of shares/funds.

Option fees:

-0.70% per year for the Gestion profile option (0.70% of the shares amount).

-0.1% of the amount transferred + 15€ administration fee for the securing of the performances.

-0.1% of the amount transferred + 15€ administration fee for the stop loss option.

Adding money to it: You can add money to it at any time but a minimum of 1 500€.

Regular withdrawal: You can set up monthly, quarterly, twice yearly, or yearly automatic withdrawals which go directly to your bank account. This is free.

There are no penalties for taking your money out, but tax may apply if you have made a capital gain not only because of its advantages but also for its flexibility. But even if assurance vie investments offer the same package with every company (same advantages in regard to French inheritance law and tax and income tax), it is important to notice the little differences and therefore shop around before making a decision. They can be different from one company to another and not just the entry or management fees!

Regular deposit: You can choose to make regular deposits (monthly, quarterly, twice yearly, or yearly) so the amount you choose to add to your assurance vie is taken automatically from your bank account. The amount is 100€ min per month.

Don’t hesitate to contact me for any other information or quote on subjects such as funeral cover, inheritance law, investments, car, house, professional and top up health insurance, etc.

-0.20% of the value of the shares/fund for switching shares/funds + a 30€ administration fee. Note that you are entitled to one free per year, so the fee is only taken if you have done one already.

Guaranteed death extra: The fee is calculated monthly (end of each month) and it is a percentage (depending on your age) of the capitaI loss. Let’s take the same example as per paragraph 4 - you have a capital loss of 25 200€, you are 50 years old, then the fee is 25 200 x 0.69% divided by 12=14.50€. This fee is then taken at the end of the year. This fee is only taken if the capital is at loss. Please refer to the percentages per ages (see table, right).

Availability: The present amount on your assurance vie is always available. So, the money is never blocked. There are no penalties for taking your money out, but tax may apply if you have made a capital gain. Note that there is a 30 day cooling off period when you open an assurance vie (same for every company) so no money is invested for the first 30 days.

French law: When you open a new assurance vie, there is always a 30 day cooling off period before your money is invested.

Conclusion: The advantages of the assurance vie savings account are well known and it is no secret that it is the preferred investment for French people

Age Cotisation

18 - 39 0.19%

40 - 44 0.30%

45 - 49 0.49%

50 - 54 0.69%

55 - 59

0.97%

60 - 64 1.39%

64 - 69 2.13%

70 - 74 3.29%

75 - 80 5.14%

Helen Booth

Making Saving Easier

Saving is probably one of the most difficult things to do. It is practically coded into our DNA to spend, spend, spend. Inheriting our parents’ bad savings habits, combined with the increasing cost of living and pressure from modern society telling us that instant gratification is the new normal, is what sabotages our best efforts.

We are also under the misconception that to save, we need to put away large sums of cash every month. A small amount every month is a good way to start our savings journey without feeling too much pressure, instead of overcommitting large amounts that ultimately lead to failure. Here are my top tips, so for those who don’t save already, let’s get started!

1. Start with a small amount and work on creating a habit.

2. Open a separate account into which your savings can go.

3. Schedule a direct debit on the day your salary gets paid into your account, so you don’t feel it in your pocket.

4. Every time you get a bonus or increase, commit to putting a portion of it away into the savings before spending it, e.g. 10%.

5. Adopt the 10% mindset and make it into a habit. This will help you stick to your savings goal.

6. A savings pocket can round off purchases and transfer the difference into your savings. You won’t feel it in your pocket, but your savings balance will thank you at the end of the month.

7. It is important to set savings goals for yourself. It could be for a rainy day fund, a deposit for a house, or that dream holiday.

8. The trap is that if the goal is a large one, it is easy to get discouraged in your saving endeavours, or lose sight of the huge end goal, and use the savings.

9. Turn savings goals into smaller bitesize chunks.

10.Try to commit to three months at a time as opposed to a whole year.

11. Reward yourself for small milestones. Like every 3 or 6 months, spoil yourself with a small reward. Positive reinforcement helps keep saving on track.

Your financial advisor can help get your savings on track and create good savings habits.

Please note, the above is for education purposes only and does not constitute advice. You should always contact your advisor for a personal consultation.

* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above deVere France S.a.r.l. are regulated by ANACOFI-CIF and ORIAS which will only recommend French regulated products. deVere France can advise you on ways to help safeguard and increase your wealth, as well as helping with HMRC-recognised pension transfers to a Qualified Recognised Overseas Pensions scheme (QROPS) to give you potentially more flexibility in your pension plans.

Helen Booth works as a financial adviser for deVere France S.a.r.l and has lived as well as owned property in the Deux-Sèvres region. Having worked in the financial services in the UK for over 15 years, Helen prides herself in being fully diploma-qualified for the services that she provides. Helen has lived and worked in France for over 8 years and enjoys being part of deVere France S.a.r.l., a division of one of the world’s leading independent financial consultancies, deVere Group.

With over $10 billion of funds under its advice and administration and with more than 80,000 clients around the world, deVere Group truly offers a myriad of unique products and notes that are not available anywhere else in the market. This, as Helen puts it, gives clients the pick of the crop when it comes to investing.

If you would like to know more about how deVere France can help you, contact

Helen Booth DipPFS , EFA : +33 (0) 77 171 2879 : helen.booth@devere-france.fr