Savers and investors alike have been stuck for choice since interest rates have languished at 0.5 per cent for now almost 3 years. So what to do?
The problem for savers, unlike investors who can afford to lose their investment, is compounded as alternatives usually come with greater risks and not so transparent transaction costs. Accounts outstripping inflation may require savers to squirrel their money away for at least 3 years – though for most people this is just fine. Savers should avoid riskier assets and be wary of being misled by banks into buying inappropriate products. Most banks will make more than you out of the deal.
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