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officebum

Where Should I Save

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Hi given that the pound might just get a hammering some day with all this QE where else should i store my deposit fund?

I prefer low risk, not worried about making big returns, would prefer it to keep its value, hence why i am worried about a serious devaluation in the pound

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Hi given that the pound might just get a hammering some day with all this QE where else should i store my deposit fund?

I prefer low risk, not worried about making big returns, would prefer it to keep its value, hence why i am worried about a serious devaluation in the pound

Depends on how much money you have.

Smart inverters spread their risk over multiple asset types in different countries. And it is always best to invest in an asset or in a country that you have knowledge of.

If you are worried about a devaluation in the pound then another currency is an option. The Swiss Frank for example.

If you are worried about a devaluation of all currencies then precious metals (gold/silver), land, property or shares area also options.

The UK has strong ties with the EU, the Commonwealth and the USA so sticking to countries in those areas may provide additional security.

Personally I would advise putting your money into physical assets such as gold or silver but I have a greater understanding of the issues that govern the price of those asset than others so I am slightly biased.

nice joke, i would if it was fairly priced

Property is overvalued here in the UK certainly but is some locations more than others. Someone with good local knowledge of an area north of Birmingham can still gain an advantage IMO.

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I live in west mids so yes property prices look reasonable when compared with SE and London, however they are still higher than they should be and the main problem is now a lack of supply. I have got past thinking a house on for 180k should be around 120k in a sane world but anything decent in a good area gets snapped up quickly leaving a lot of crap that's been on for ages, although some of that has began selling recently.

I imagine you have to know what you are doing with metals isn't as straight forward to buy and store as say having a bank account. I guess i was thinking of a offshore bank account how easy is it to open up one in say Switzerland. Cannot see a run on the swiss franc anytime soon and dont think the pound will be gaining against it either for a while.

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