The most popular reasons the 2,000 people surveyed gave for keeping cash at home include being able to s ee it, using it for everyday spending, and convenience. Many are unhappy with the interest they were making on other savings and a whopping 17 per cent said their savings were generating no interest at all.
Piggy banks are a great starting point for children learning the basics of saving money, but there is a clear opportunity for adults to gather their stockpiles together and make their money work harder for them. Whether it is under the mattress, in a bottle, or in a sock drawer, that money could be contributing towards your savings goals.
With interest rates so poor people just do not know where to turn to invest their hard earned cash and give them some sort of genuine return. This is where I can help! If you wish to see your money begin to give you an income of 5% per annum, I have a robust genuine safe investment available from a highly reputable multinational insurance organisation that will give you that.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Much has happened since I last put pen to paper in the immediate aftermath of the referendum result and I thought it sensible to comment on some of the issues which are emerging from the ‘swirling fog’ that we experiencing. July 24th 2016, reminded me of September 12th 2001 in New York, with people walking around in shock, confused at the attack on the political and economic system. To be angry at the shock of the unexpected result and how that might affect everyone’s life is a natural and rational response, however much it might seem otherwise. Last week I wrote that the result was not a disaster and the financial system was capable of absorbing this shock, in short, my view has not changed.
The pensions tax relief Lifetime Allowance (LTA), otherwise known as the pension lifetime limit, should be an area of active concern for any expat with a high-value pension.