Savings Interest Rates Getting Worse

[Felonious Crud]

I guess it depends on your definition of “better”.

Which depends on everyone's circumstances, hopes, fears and dreams. Which differ. One man's meat, etc.

 

[Wattie]

Which depends on everyone's circumstances, hopes, fears and dreams. Which differ. One man's meat, etc.

Yup but even at the low end of the scale ie £100, it’s not worth the bother.
Is it?

 

[zagatoes30]

Yup but even at the low end of the scale ie £100, it’s not worth the bother.
Is it?

Watch the pennies and the pounds will look after themselves as my Dad would have said

 

[Felonious Crud]

Yup but even at the low end of the scale ie £100, it’s not worth the bother.
Is it?

Is it a lot of bother to set up an account online?

Wattie, here's a challenge for you: find something to be positive about.

 

[Wattie]

Is it a lot of bother to set up an account online?

Wattie, here's a challenge for you: find something to be positive about.

No it’s not a lot of bother at all.
In fact anyone could do it in a few minutes.
Oh c’mon Fc.
I’m positive about lots of stuff, - I’ve tried to share that with others, often faced with ridicule. I use the expression “Ponzi” a lot. Annoys many members, it’s fact.
Fc, do the maths......recently there was a post that said free advice was worth exactly that. Well, go back to when I said buy gold/silver pre Brexit and see if it was worthless advice.

Gold/silver pre Brexit alone .......to date.

By the way, I understand My arrogance may be part of the problem.
My views are so left of field of what is disseminated by your IFA/mainstream that I sound a massive bit mental.
I’m still correct. 99% of you need to sack your IFA for what’s going down.
Adam I really respect you, as u know we’ve never met, but in the same way you are exceptional at what you do, I am too.

I pm’d you my precious metals purchase directly months ago because I hoped it would help and show u I put my money where my mouth is.....i felt we were on the same page. Feel free to post it

Keeping money in a bank is futile. I understand why people do it but u are wasting your time.

I’ve helped others, don’t keep short term money in a bank account,
I’ve no interest in profiting from anything, I’d just like to try to assist those that are concerned about their investments and who would like some guidance.


By the way, this year.
to answer your positive front, I’m around $114,000 up on goldX 1.38 Aud.
My 120kg of silver has gone from around Us $62000 to $112000 x 1.38 Aud.

I have an enormous respect and regard for you and those on this forum. If I can advise and assist some to get their hard earned working more I’m happy to do so.

 

[stindig]

Anyone else into property rental? Seems to work for me - decent rental return pa plus capital growth on the buildings. Buy nice modern flats, rent to nice professional people and no hassle at all

 

[allandwf]

I fiddle with gold via a tally account, I use it to buy euros normally as if the exchange rate is heading south gold tends to go up. I took around 25% profit out of it yesterday, not a massive amount as I usually only have around 3000 in it, but profit all the same. I don't really have much in a savings account as such, I'd much rather buy stuff lol. I can always sell it again.

 

[Davidt99]

Below the rate of inflation......your money is losing value Fc.
You gotta move with the times.
These rates guarantee you lose money and buying power.

UK inflation for June was 0.8%.

 

[rockits]

It really isn't difficult to beat 1.5%. I'm an idiot making tons of mistakes trading and have done circa 10% per month for each of the last 4 months.

So comparison is circa turning £35k into £52k so £17k interest if you like.

To have that same £35k sat in an account at 1.5% would have gained me about £175.

Slight difference!

It has taken about 10-15 hours of my time a week but I have learned some new skills and got paid for my time quite well in effect so all good.

If I can keep at these levels the pot will grow allowing me to increase the size of my positions a little more to increase the returns. I'd be more than happy if I could keep it at 10% a month. Tough ask but possible with increased pot and better knowledge/ability.

With more knowledge, better ability and maybe more luck it could easily have been double that return.

 

[rockits]

Part of the reason I haven't been on here much! Between work/business, trying to build garages, get a new office built and work on the planning application it has been pretty full on.

 

[stindig]

Anyone else into property rental? Seems to work for me - decent rental return pa plus capital growth on the buildings. Buy nice modern flats, rent to nice professional people and no hassle at all

I calculate 44% return on investment

 

[RobinL]

Anyone else into property rental? Seems to work for me - decent rental return pa plus capital growth on the buildings. Buy nice modern flats, rent to nice professional people and no hassle at all

Rental can work in many different ways provided folk are aware of the pitfalls.
There has been much marketing hype in recent years pushing student accomodation. Usually below what banks are interested in so many cash buyers. Guaranteed rental income (!)
So now the student numbers looking for accomodation have tanked, the guaranteed rentals aren't happening, the apartments won't sell because a) nobody is buying and banks won't lend...... Yet the service fees keep on!

I was looking at HMO student accom. in Bangor. Good University, range of students between local UK and foreign. No big flashy developments planned, realistic property prices. But just now there's more supply than demand..

Buying to rent is key. Not buying something and renting it out. There's a difference. I wouldn't live in any of the places I have. Nice places but wrong areas. But they rent without any trouble at all.
After all expenses, fees etc I'm seeing around 15% return (ignoring capital appreciation)

Sent from my ONEPLUS A5010 using Tapatalk

 

[rockits]

It really isn't difficult to beat 1.5%. I'm an idiot making tons of mistakes trading and have done circa 10% per month for each of the last 4 months.

So comparison is circa turning £35k into £52k so £17k interest if you like.

To have that same £35k sat in an account at 1.5% would have gained me about £175.

Slight difference!

It has taken about 10-15 hours of my time a week but I have learned some new skills and got paid for my time quite well in effect so all good.

If I can keep at these levels the pot will grow allowing me to increase the size of my positions a little more to increase the returns. I'd be more than happy if I could keep it at 10% a month. Tough ask but possible with increased pot and better knowledge/ability.

With more knowledge, better ability and maybe more luck it could easily have been double that return.

That is all sat in a pair of Investment ISA's of course with zero tax due/paid.

Forgot.....I've also done a fair few spreadbetting and Forex trades that have added £3k profit onto that pot as well.

If I can do it many others can but it does need some time. Or maybe it doesn't and you could achieve the same with less time spent with a more hands off approach.

 

[stindig]

Rental can work in many different ways provided folk are aware of the pitfalls.
There has been much marketing hype in recent years pushing student accomodation. Usually below what banks are interested in so many cash buyers. Guaranteed rental income (!)
So now the student numbers looking for accomodation have tanked, the guaranteed rentals aren't happening, the apartments won't sell because a) nobody is buying and banks won't lend...... Yet the service fees keep on!

I was looking at HMO student accom. in Bangor. Good University, range of students between local UK and foreign. No big flashy developments planned, realistic property prices. But just now there's more supply than demand..

Buying to rent is key. Not buying something and renting it out. There's a difference. I wouldn't live in any of the places I have. Nice places but wrong areas. But they rent without any trouble at all.
After all expenses, fees etc I'm seeing around 15% return (ignoring capital appreciation)

Sent from my ONEPLUS A5010 using Tapatalk

I have rented to students on two occasions. Never again - OMG. Any increase in revenue is offset by mucho hassle. Only professional tenants for me

 

[RobinL]

Students and nurses are not the cleanest or most houseproud.
I should know. My daughter was a nightmare as a student. She is now a nurse.
There has been no visible improvement despite lessons in housework from both me and her mum. She has better things to be doing apparently.

Sent from my ONEPLUS A5010 using Tapatalk

 

[stindig]

I calculate 44% return on investment

Was expecting a challenge on this number.....

 

[daverichardson]

I have a managed apartment for Students and have not experienced any problems that were not easily sorted. This year all rental is pure profit after 6 years
Also a managed (I cannot do with aggravation at my time of life) holiday home near Whitby had for about 12 years - all good

 

[Froddy]

It really isn't difficult to beat 1.5%. I'm an idiot making tons of mistakes trading and have done circa 10% per month for each of the last 4 months.

So comparison is circa turning £35k into £52k so £17k interest if you like.

To have that same £35k sat in an account at 1.5% would have gained me about £175.

Slight difference!

It has taken about 10-15 hours of my time a week but I have learned some new skills and got paid for my time quite well in effect so all good.

If I can keep at these levels the pot will grow allowing me to increase the size of my positions a little more to increase the returns. I'd be more than happy if I could keep it at 10% a month. Tough ask but possible with increased pot and better knowledge/ability.

With more knowledge, better ability and maybe more luck it could easily have been double that return.

Rockits, you are smashing it - amazing! Sounds like you are way ahead of the crowd with risk management and position-sizing. Discipline is key ...

 

[Zep]

I rent a couple of houses out, they have their moments but are mostly hassle free.

Overall they turn a tidy profit and seem like a pretty safe place for money.

 

[Froddy]

No it’s not a lot of bother at all.
In fact anyone could do it in a few minutes.
Oh c’mon Fc.
I’m positive about lots of stuff, - I’ve tried to share that with others, often faced with ridicule. I use the expression “Ponzi” a lot. Annoys many members, it’s fact.
Fc, do the maths......recently there was a post that said free advice was worth exactly that. Well, go back to when I said buy gold/silver pre Brexit and see if it was worthless advice.

Gold/silver pre Brexit alone .......to date.

By the way, I understand My arrogance may be part of the problem.
My views are so left of field of what is disseminated by your IFA/mainstream that I sound a massive bit mental.
I’m still correct. 99% of you need to sack your IFA for what’s going down.
Adam I really respect you, as u know we’ve never met, but in the same way you are exceptional at what you do, I am too.

I pm’d you my precious metals purchase directly months ago because I hoped it would help and show u I put my money where my mouth is.....i felt we were on the same page. Feel free to post it

Keeping money in a bank is futile. I understand why people do it but u are wasting your time.

I’ve helped others, don’t keep short term money in a bank account,
I’ve no interest in profiting from anything, I’d just like to try to assist those that are concerned about their investments and who would like some guidance.


By the way, this year.
to answer your positive front, I’m around $114,000 up on goldX 1.38 Aud.
My 120kg of silver has gone from around Us $62000 to $112000 x 1.38 Aud.

I have an enormous respect and regard for you and those on this forum. If I can advise and assist some to get their hard earned working more I’m happy to do so.

Amazing, Wattie! Good on you for sticking to your guns, and we all owe you a huge debt of gratitude for sharing your knowledge and energy ...