by Philip Dales - (Dales Independent Financial Advisers)
Why do we use cash so much for our investments, I think the main reasons centre on the fact that it’s a safe investment.
But that’s not entirely the full picture….
Inflation is eating away at your savings or cash investments every single day, inflation can wipe out its value just because its sitting in a bank account.
Why: The Technical bit
The Consumer Prices Index (CPI) is 2.9% the very best Fixed rate Cash ISA is 2.75% (Virgin Money 2.75% for five years fixed). Even with the best Cash ISA you’re losing 0.15% each year. It gets worse if your money isn’t in ISA’s as you’ll pay tax on the interest. The best non ISA ...