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More bad news for savers.
whattochoose
Posts: 787 Forumite
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Nonsense. You can get 3% over inflation and bank rate on 50k cash per person. Remind me again if that was possible when we had 3% inflation and/or 2% bank rate? I've seen little sign of this capability reducing.0
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TheTracker wrote: »You can get 3% over inflation and bank rate on 50k cash per person.
Please tell us how
“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
whattochoose wrote: »
I realised years ago this Government and their overpaid puppet Carney would never raise interest rates of their own volition. They have run up too much debt, and as landlords they are as hooked on rising property prices as a junkie on heroin.
But its never been easier to diversify your savings into something else.“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
Glen_Clark wrote: »Please tell us how
Walk down a high street and read the posters and billboards.0 -
You can average about 3.8% GROSS on 50k using bank accounts.
This is a far cry from 3% above inflation unless your maths is very bad or you don't know what inflation is.0 -
Don't they just show the headline rate without the small print catches?TheTracker wrote: »Walk down a high street and read the posters and billboards.
I though the idea of this forum was to be more realistic?
Would be great to hear from somebody who is actually doing this with £50k.“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
No, they have the small print at the bottom, in , err, small print.Glen_Clark wrote: »Don't they just show the headline rate without the small print catches?
I think this forum is pretty realistic on the income obtainable from 50K.Glen_Clark wrote: »I though the idea of this forum was to be more realistic?
The debate comes when trying to determine inflation: RPI, CPI, house prices in central London, price of electronic goods ...
Personally, I don't need £50k in cash, so I can avoid the 3% accounts.Glen_Clark wrote: »Would be great to hear from somebody who is actually doing this with £50k.Eco Miser
Saving money for well over half a century0 -
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Glen_Clark wrote: »Can we have an answer for the benefit of those who do...?
Open all these.... I get 6% on regular savers fed from an account earning 3%.
http://www.moneysavingexpert.com/savings/savings-loophole:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
I do and I average more than 4% gross, with the help of Regular Savers.Glen_Clark wrote: »Would be great to hear from somebody who is actually doing this with £50k.0
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