Courtesy of Dr Michael Taylor, point well made: We’ve always been advised to save money in the bank, but while this may seem secure, it’s not the best way to grow your wealth over time, especially with inflation eating into its value. What is Inflation? Inflation is the rate at which the prices of goods and services rise, leading to a decrease in your money’s purchasing power. How Does It Impact Your Savings? Imagine you’ve saved £5,000 in the bank. If the inflation rate is 4% per year, something that costs £5,000 today will cost £5,200 next year. But if your bank’s interest rate is only 1%, your £5,000 will grow to £5,050. In real terms, you’ve lost £150! Get in touch, we can help you invest in Property. We do and we enjoy what we do.

Posted by mark1 at 2025-02-18 07:55:53 UTC