Why bother with Savings Accounts?

guitarman001

LIB3RTY wrote: »

You can only lose money in the stock market if you do not do your homework. Never buy on reccomendations and never buy at peaks. Study the fundamentals and decide for yourself.

I'm no genius and I certainly wasn't raised on a silver spoon. When I spoke of my success it is not to brag, but to give an example. I want to help people, I am encouraging independance and study into the field of finance. Literally anyone of sound mind can learn it.

I've a Masters in engineering and an MSc to boot. I've read countless books on finance and know the game, however I have taken the risk with investing and lost thousands. I'm also down 55% on 1/3 of my life savings. You can be smart yet a poor investor - and that's what I am.

I do not advocate this path for everybody.

MGCP

I assume Lib3rty must be one of the world's most successful fund managers given how many professionals can and do regularly lose money on shares.

Apparently the mistake they are all making is "not doing their homework". Reading that is going to come as a bit of a forehead slapping moment for them!

It is good to know that City giants like Lib3rty can still take time out of dealing to visit the MoneySavingExpert forum and share their pearls of wisdom with us all.

Stompa

LIB3RTY wrote: »

With a real inflation rate of around 8% - 10% ...

Says who exactly?

LIB3RTY

Wow, I didn't expect this much hate from people.

Majority of investors lose money because they invest where they are told to invest. These hedgefunds and such lose money trying to prop up a dying system and they are happy to throw their customers under the bus to do so.

I lose now and again, and when I do I change my tactics. Overall though, I am a winner to date. I am trying to milk as much as I can from this cycle so that once people are wiped out and the next cycle begins I will not be in a bad position financially.

When you learn that the system is purpose built to make you poor you can either accept it and carry on as you always did or take a chance and pursue new paths.

LIB3RTY

guitarman001 wrote: »

I've a Masters in engineering and an MSc to boot. I've read countless books on finance and know the game, however I have taken the risk with investing and lost thousands. I'm also down 55% on 1/3 of my life savings. You can be smart yet a poor investor - and that's what I am.

I do not advocate this path for everybody.

What did you invest in and when may I ask?

2010

LIB3RTY wrote: »

Wow, I didn't expect this much hate from people.

It`s not hate, people just think/know you`re talking tripe.

27col

A lot of people on here know tripe when they see it, just the same as they know spam when they see it. Oh yes! and b******t too.

LIB3RTY

Stompa wrote: »

Says who exactly?

Here

Link

Cuts off in 2012 but have you noticed any real decrease in prices? Electronics seem to have been the only things to go down in price in my experience.

LIB3RTY

2010 wrote: »

It`s not hate, people just think/know you`re talking tripe.

How is it tripe? What evidence do you have that anything I have said is untrue?

chucknorris

LIB3RTY wrote: »

I would rather risk high losses for high gains than accpet a constant guaranteed loss to Inflation.

Depends where you are in your life plan, we have now made more than enough to live on and our only problem is making sure that we eventually spend it and enjoy it before dying. Why on earth would I want to risk our future trying to make more money that I will never live long enough to spend?

The time to take risks is before you have made it, not after. I was a big risk taker from my 20's to 40's, now I am in my 50's and have more than I need is not the time to be taking significant risks, that would just be greedy.