Reply to: Holding on to your savings

[rootsnall]

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.

I bought quite a few on the sub 4000 plunges and have been waiting for the next one to buy some more but there haven't been any !?!?!?!?

Are they a good haven at these prices ? Who knows !?

[Bagpuss]

I'm thinking high dividend yield shares in defensive stocks, Pharma, food, Utilities. Should give a greater income than savings anyway

[DimPrawn]

I'm getting some interest on my savings and if I were in a job, I would put all my savings into paying off my debts. It's expensive for me at the moment. I need a new contract!!!!!

I'm sure you'll get one when the recession ends in 2 - 5 years time.

[pmeswani]

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'm getting some interest on my savings and if I were in a job, I would put all my savings into paying off my debts. It's expensive for me at the moment. I need a new contract!!!!!

[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.

[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.

[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.

[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.

[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?

[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 !?

[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

[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.

[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.

[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.

[TimberWolf]

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.