what to do with the money

thecrazy1_2

what advice would you give?

i have money in various banks building societies etc and yes icesave and kaupthing edge thank goodness not much, however with savings not safe in the banks and share prices droping where would you recomend putting it.
i was thinking, as property is coming down is that a good bet, as eventually it should go back up.

any ideas please......

Reaper

I'm mostly sticking with the savings accounts. Everywhere else has risks too.

Interesting point about property. Particularly in the south there is a shortage of housing compared to demand and that isn't going away just because of the crisis. Eventually I think property is going to become an attractive investment option. However in my opinion that time is not yet. I think it has further to fall.

thecrazy1_2

well i think they were talking about house prices coming down 30% so perhaps you are right surely there must be more and more reposessions.
i took my money out of bradford and bingley just before they were taken over so i'm not sure about savings accounts, however i have heard gold is a good bet.

amcluesent

>where would you recomend putting it.<

Well it's almost too late, but the purchasing power of GBP is going to plummet, so you could take a chance on gold or a stronger currency like Swiss Francs.

Otherwise, you'd need to look at tangible assets that won't go down in price because of the global recession (as commodities have done) and avoid 'niche' investment items which people will dump at panic sale prices to cover margin calls on their debts. Though you may be able to pick up some fine wine collection for a song.

Naturally if I could find such a thing, I wouldn't be blabbing about it here.

thecrazy1_2

i am afraid i am very dim when it comes to investments i assume the point is to invest when prices are low and take it out or sell when prices rise e.g is it not a good time to buy shares as they are so low.
any suggestions on good books on the subject.
perhaps then my dimness will diminish :-)