Holding on to your savings

[Mich the Tester]

What about beans? They should be a relatively safe way to hold onto savings, if not necessarily turn a profit. You can even eat them.

And the world's corporations pay very good salaries to people who count them.

[gingerjedi]

Thanks. I only have £6.45 in my bank account. what shall I do with that?

Buy this? ... you'll have enough left over for a big mac.

[ace00]

What about beans? They should be a relatively safe way to hold onto savings, if not necessarily turn a profit. You can even eat them.

Honestly? Magic beans would probably be a better option than following sasguru's advice.

[Bagpuss]

Seems pretty reasonable tactic to me.

I would be tempted by oil too. .

Too risky, Still relatively expensive if you look at the long term price

[rootsnall]

No interest from banks, not yet time to invest in property or the stock market. It's difficult to know what to do.

I suggest the following

1/3 in Gold
1/3 in Swiss Francs
1/3 in Sterling/selected shares

I think you might have missed the bottom in shares and also the best time to get out of sterling !?

[Doggy Styles]

I think you might have missed the bottom in shares and also the best time to get out of sterling !?

I don't know about Sterling looking at the latest figures. But why are shares holding up at the moment, with company sales down, and closures every day?

[Mich the Tester]

But why are shares holding up at the moment, with company sales down, and closures every day?

Because the people who sell them are good at bulltulipting.

[rootsnall]

I don't know about Sterling looking at the latest figures. But why are shares holding up at the moment, with company sales down, and closures every day?

They were well down from their highs at FTSE 3700 or whatever it reached. It is quite possible we'll have another panic and we'll go to sub 3700 but with all the banks effectively owned or underwritten by the government it is looking unlikely IMHO ( a shamateur one ).

Sterling has already had it's biggest drop in many many moons and when the rival currencies also belong to equally stuffed countries I wouldn't be trading it in for Euros now.

[Pickle2]

Thanks. I only have £6.45 in my bank account. what shall I do with that?

A giant Toblerone left in the wrapper should cover it.

[Doggy Styles]

They were well down from their highs at FTSE 3700 or whatever it reached. It is quite possible we'll have another panic and we'll go to sub 3700 but with all the banks effectively owned or underwritten by the government it is looking unlikely IMHO ( a shamateur one ).

I see your point.

So does that make shares a pretty good haven then, and probably a much better return than cash? Not that I have much money to chuck around.