Sunday, Oct 19, 2008
That rare breed the red spotted saver is nearly extinct
Mirror: Credit crunch latest
Meanwhile, inflation hit a 16-year high of 5.2 per cent. This means that, after tax and inflation are taken into account, savers will find it near impossible to make headway.
Moneyfacts.co.uk says a standard rate tax-payer needs to find an account paying 6.5 per cent just to break even, while a higher rate taxpayer needs to earn 8.63 per cent.
Posted by matt_the_hat @ 09:40 AM (296 views) Add Comment
5 Comments
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1. planning4acrash said...
"HPC bloggers, wih foresight, now count for 1/10th of all UK savings, posing as a direct threat to the establishment, Rothschild, et al. likely to overtake the British 'establishment' within 5yrs" - Imaginary headline from the Time.
2. planning4acrash said...
So buy gold then. I expect Gold to rise at least 10% in the next year. If you aren't rushed, you can buy on the trough's, buy on the peaks and make more, heck, and it could double, but even 8% appreciation is good enough for me.
3. matt_the_hat said...
7,2% is the best I can see.
4. Eternal Sceptic said...
Well done crash gordon.It is perfectly obvious to the entire population that to live off the fat of the land, all you need to do is breed like a rabbit, do jacksh***t and the government will provide. Do an honest days work, stay out of debt and your savings will be raped. Welcome to the reality of nu labour.
5. jonb said...
The best I can see is 7.5% for a five year fix from State Bank of India. Minimum deposit is £10,000. But will they still be around in 5 years time?