losing the value of cash savings

13»

Comments

  • atush
    atush Posts: 18,726 Forumite
    Name Dropper First Anniversary First Post
    edited 11 October 2017 at 11:05AM
    cash savers like pensioners have their money in cash.

    Well there is no reason that pensioner cant invest- and I plan on being one of them who does so. I have a lot of cash, but I have more in investments. Most being collective investments and not single shares.

    If you choose to keep all your money in cash, that is your problem.

    Or you could move to a country that pays higher interest on your cash.
  • Malthusian
    Malthusian Posts: 10,936 Forumite
    First Anniversary First Post Name Dropper Photogenic
    lluzers wrote: »
    Why should anyone take advice on investments which could be duds , if they turned out to be duds , when he is trying to keep hold of what he has.

    Because they might learn something and gain access to the knowledge they need to invest their money sensibly to deliver long term capital growth. And wouldn't have to spend their life watching their pile of cash dwindle in value, while shouting at the bins on an Internet forum.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    lluzers wrote: »
    The people putting their monies in cash , think they are smart and earning a profit , they don't know that their 0.5 % interest income
    ½%? I've been getting 5%.
    lluzers wrote: »
    has been losing buying power for the last 45 years .45 years ago the printing presses for money printing started , same home you bought for £15,000 in 1972 , you will pay £1m for it .The buying power of your money is going down.
    Why 45 years? My parents bought their first house for £800 (they couldn't afford a thousand) in 1951.
    lluzers wrote: »
    Pensioners have been screwed by governments for last 45 years , nowadays they borrow from pensioners via gilts at 0.25 %???.
    Only if the pensioners buy gilts. I don't.
    lluzers wrote: »
    The buying power of your cash will keep going down.
    So don't keep lots of cash.
    lluzers wrote: »
    £100k invested in cash today will be worth £15k buying power in 20 years.
    So invest instead.
    Eco Miser
    Saving money for well over half a century
  • lluzers
    lluzers Posts: 133 Forumite
    Eco_Miser wrote: »
    ½%? I've been getting 5%.
    .

    How where what investments?
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    The 5% in current accounts and regular savers (used to be 10% not so long ago).
    My actual investments have been getting rather more.
    Eco Miser
    Saving money for well over half a century
  • moneyfoolish
    moneyfoolish Posts: 681 Forumite
    First Anniversary Name Dropper First Post
    As a matter of interest, I'd be interested to know which people on here over 70 invest in equities and bonds and which people use only interest bearing savings accounts or ISAs and their rationale for doing each?
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    I'm not 70 yet, but I don't expect to be changing my investment strategy between now and then, nor probably for the following 20 years that will take me to my fathers age at death.
    Why? You can't get inflation beating interest on hundreds of thousands of pounds.
    Eco Miser
    Saving money for well over half a century
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards