And make yourself much poorer in the process...
Talk about turkeys voting for christmas!
But then quitters aren't exactly the sharpest tools in the box
Interest rates up
- Thread starter JohnD
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Talk about turkeys voting for christmas!
But then quitters aren't exactly the sharpest tools in the box
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Good to see those with savings might actually be on a path to getting returns on their money again rather than subsidising mortgages.
Hoorah to that!
For the lucky few to be able to save of course...
https://www.independent.co.uk/news/...ns-inflation-income-expenditure-a8279016.html
"The share of income UK households save was at its lowest in 2017 since records began, as expenditure outstripped inflation-eroded pay over the 12 months.
The Office for National Statistics reported that the full-year household “saving ratio” fell to just 4.9 per cent in the year, down from 7 per cent in 2016 – and the lowest annual reading since 1963."
Now I wonder what the main cause for this is?
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why save when interest rates can’t event track inflation? You might as well buy gold and hide it under your bed.
Not everything is due to Brexit, Trump, May or Putin.
Not everything is due to Brexit, Trump, May or Putin.
Lucky? Us savers without mortgages have been battered by low interest rates for a long time.
Payback!
E
EddieM
Well on my "high interest" regular savers account after paying in £250 per month, the maximum you can pay in, after one year I got a whopping £50 odd interest Good returns without significant risk have been hard to find for years now.
Good returns without significant risk have been hard to find for years now.Anyone with money to invest should have at least 3/4 foreign currency accounts and holdings in at least a couple of precious metals...
And those investments should have been put in place before 23/06/16 !
E
EddieM
gold would have performed best if traded in GBP (and would have been a modest return) and platinum would have lost you money in all currencies since 2016.
Similarly, if you'd wanted the best returns for EUR vs GBP you would have been best to invest in 2015, GBP was falling against the euro fairly sharply since the end of 2015 before making a modest recovery in 2017
Similarly, if you'd wanted the best returns for EUR vs GBP you would have been best to invest in 2015, GBP was falling against the euro fairly sharply since the end of 2015 before making a modest recovery in 2017
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Euro invested in at 1.38
Dollar invested in at 1.48
ISK invested in at 211
NOK invested in at 13.05
Gold invested in at $800/ounce (at above dollar rate)
Silver invested in at $12/ounce (sold at $35/ounce)
That's why I don't give a monkeys about the financial impact on ignorant quitters!
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A simple FTSE 250 tracker (e.g. LON:MIDD) is good for those without the time or ability to choose investments. Done through an ISA share trading account, if you haven’t used your limit. But for those with debts - that should always be the first priority.
Care to tell us how 'those with debts' can afford to invest?
Which is the vast majority in the UK btw!
Assuming you kept it under the bed (so you didn't pay bullion warehousing charges) and that you bought readily-marketable coins rather than ingots:
29 July 2016 the retail price if you were buying a Krugerand was £1125 and the price if you were selling was £981
9 July 2017 the retail price if you were buying a Krugerand was £1019 and the price if you were selling was £922
31 July 2018 the retail price if you were buying a Krugerand was £991 and the price if you were selling was £896
The dealers spread means you could not have made a profit by dealing on any of those dates. But even if you didn't have that margin acting against you, you would have made a loss.
If you had been able to buy and sell at the world mid point (which you can't) then you would still have made a loss on those dates.
With hindsight, if you could jump into your time machine and buy at the bottom and sell at the top (you can't) then your gain would still not be much.
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Pay them off before investing in anything else. Be it gold, cobolt or bitcoins
I refer you to my earlier link...
https://www.independent.co.uk/news/...ns-inflation-income-expenditure-a8279016.html
So again the question is "care to tell us how 'those with debts' can afford to invest?"
Because unlike the politically corrupt, most people don't have a convenient 'money tree'!
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