We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Agree the average savings rate is not the best comparison. I have always chased the best rates and after tax rarely kept up with inflation. The last year alone ILS will have made up for years of other cash savings beating inflation by a wisker. There is only one guaranteed winner, the tax man.
I used to read keep invested in the stock market for 5 year's, you won't lose. Then it was 10 years, more recently 15.
Our personal inflation rate is less than the official rate, so there's a slight uplift to ILS that we experience. We're thinking now of rolling over the ILS as they mature and shift other savings around to get the best medium-term rates. Two maturing 1-year ISAs at the end of the month can be renewed for 5 years at 5% - equivalent to a regular taxable account paying 6.25%.
Agree the average savings rate is not the best comparison. I have always chased the best rates and after tax rarely kept up with inflation. The last year alone ILS will have made up for years of other cash savings beating inflation by a wisker. There is only one guaranteed winner, the tax man.
I used to read keep invested in the stock market for 5 year's, you won't lose. Then it was 10 years, more recently 15.
On here we would normally say that 5 years is the minimum you should ever be invested. Ideally should be 15 years, but anything over 8 years means the odds are pretty highly stacked in your favour.
