Savings fund in a SIPP?

george4064

Sam_666 said:

aroominyork said:

Sam_666 said:

MM are not savings  accounts.  Anyone thinking otherwise lacks serious understanding of investing.

How to you define 'savings'?

Is this wind-up?
If you dont know what savings account is, this is wrong place to ask.

I think aroominyork was asking how you define 'savings', rather than 'what is savings'.

It's a common misconception that people get mixed up between savings, investing etc, as well as people have different interpretations for the same terms. So I don't see the question as a 'wind-up' at all.

Martico

george4064 said:

Sam_666 said:

aroominyork said:

Sam_666 said:

MM are not savings  accounts.  Anyone thinking otherwise lacks serious understanding of investing.

How to you define 'savings'?

Is this wind-up?
If you dont know what savings account is, this is wrong place to ask.

I think aroominyork was asking how you define 'savings', rather than 'what is savings'.

It's a common misconception that people get mixed up between savings, investing etc, as well as people have different interpretations for the same terms. So I don't see the question as a 'wind-up' at all.

That was my reading of it as well.
Plus, either way, I can't think of many better places to ask such a question than on this site

aroominyork

Sam_666 said:

aroominyork said:

Sam_666 said:

MM are not savings  accounts.  Anyone thinking otherwise lacks serious understanding of investing.

How to you define 'savings'?

Is this wind-up?
If you dont know what savings account is, this is wrong place to ask.

Not a wind up at all. Savings can be defined as low risk, low return, cash-based (or quasi-cash) products. You can access those within a tax wrapper. An STMMF might not be structured the same as a building society 'account' but it shares many of the relevant features.