Are your savings currently in a bank?
Give us your money and we will put it in a bank….
Erm no no we won’t!
Why, you ask?
I was listening to a podcast the other day (@thepropertypodcast) from the Author of Rich Dad, Poor Dad (awesome book by the way) and interestingly he said he doesn’t deal with money! He only invests in gold, silver and bitcoin.
Now, he’s mega loaded so i’m not suggesting for one minute you go and put your current savings (whatever they may be) into lumps of gold…..what would a lump of gold even cost these days?! But it is worth trying to understand and read between the lines as to why he has this point of view.
Banks are in a bit of trouble these days, the economy is uncertain, everything is all a bit of a prediction so of course they’re going to panic and play on the cautious side
Many high street banks interest rates are 0.01%, with talks of this dropping to potentially being negative. With many banks charging their ultra rich clients up to 0.75% to hold their own money!
In simple terms, this means that you will have to pay the banks to keep all of your billions of dollar bills in there!
What is the chuffing point, you might as well put it under your pillow?!
Here at Feature, we are making the move to put all of our savings (including pensions, lump sums etc) into property. The whole lot, well actually we’re keeping a bit per month for digital investments just because they intrigue us and at the moment have very good returns!
Scary? YES! Calculated risk? YES! Confidence level over savings accounts? We’re still learning but I would say I'm at 98%. Pretty sure my friends and family are sick of me mentioning it, let’s put it that way!
Have you got any savings? £10k, £30k or even more...where will you be putting your future? The trick is to use this money in property but to ensure it generates cash flow for you and can be easily accessed.
If you want to chat about this to understand more, we’re happy to give any impartial advice :). Just send us an email and we can arrange a call.