Savings account/money in shares. What’s the best option?

[Bentheblue]

Depends what you plan to do with it? I’d more like inclined to look at a gold ETF. I don’t know if you’re familiar with ETF’s - If not, it’s an Exchange Traded Fund, so is basically like buying gold on the stock market as you would when you purchase shares. I imagine an ETF to be more convenient with cheaper fees than digigold from the mint.

Thanks for your response. I am considering transferring savings from a bank account as a protection against the reset. The thing that attracted me to digigold was that the the Royal Mint store them for free.

 

[117 M34]

Thanks for your response. I am considering transferring savings from a bank account as a protection against the reset. The thing that attracted me to digigold was that the the Royal Mint store them for free.

Which reset is this?

 

[denislawsbackheel]

Reset my arse!
It’s more tin hat conspiracy crap.

How the 'great reset' of capitalism became an anti-lockdown conspiracy | Quinn Slobodian

Though a poor diagnosis of global events, this implausible theory offers a grim insight into the public mood, says history professor Quinn Slobodian

www.theguardian.com

 

[Uncle Wally One Ball]

Thanks for your response. I am considering transferring savings from a bank account as a protection against the reset. The thing that attracted me to digigold was that the the Royal Mint store them for free.

*Snores*

 

[paulchapo]

Bumping this thread due to the current economic climate. Like many of others I guess I didn't used to pay much attention to my savings. They made a bit of interest here and there so I wasn't too bothered. Now inflation is going through the roof it's a different matter. Also for the first time ever some money I had invested in a Scottish Widows regular saver account has lost money. I opted for low risk and it steadily made a small amount each year which was invested back into more stock. Last year to my delight it made just over £900, the most it has ever made. This year it lost £600+. It's a worry and has me wondering if I should draw it out.

I know we have some clever financial brains on here so hopefully they have some advice. I'm looking to move a lump sum into a no risk account that pays reasonable interest. I can tie it up for a few years, any advice would be gratefully received.

 

[Corky]

What has been noticeable over the last year bonds have taken a hammering so the "low risk" ISAs have fallen worse than the higher risk ones with more equities.

Banks will do free health check things, but from what I can see all high street banks interest rates are still derisory unless it is for very small amounts and you open a lot of different accounts.

MSE gives a list of those around 3% to lock away:

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#fixedsavings

 

[stan bowles]

Does anyone know if buying digigold bars from the Royal Mint is a good idea?

I lost money on them over a 18 month period - the price just kept on falling - and of course after I sold all my investments the price went up sharply. Also, I was surprised to find myself being charged storage costs by the Royal Mint for digital gold.

 

[kashmir]

I’ve done As Marco has Done and Invested in gold coins(UK)
buy sovereigns and Britannia’s as they are capital gainS tax free and still legal tender in UK
Best decision I’ve ever made,sold all my various shares and bought gold
look up Chards in blackpool for good prices

 

[halfmist]

If your looking for low risk savings account the Martin Lewis consumer site lists the best rates.
The problem is if your looking to lock in to savings accounts at the moment when it is widely predicted interest rates are going to rise your not going to get as a good a rate as you would if you hang on for a couple of months.

 

[Kompany Car]

The best you will do in the short term regardless of stocks/shares or savings accounts is to offset some of the current levels of inflation but ultimately in real terms you will be poorer. Longer term the Nasdaq is still around 25% down on its peak before Christmas so if you are willing to play the long game there's still good value to be had there.
If you are talking significant sums of money then keeping some liquidity is not a bad move. As awful and capitalist as it sounds, there will undoubtedly be people who fail to keep up mortgage payments leading to repossession and therefore potential for buying property at a cheaper price.