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Gbp

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    Gbp

    My parents are ex contractors (it's in the blood I tell ye) and retired now. They have been retired for years and living quietly off the interest from their modest war chest and meagre pension.

    The trouble is, there is no interest, or much less. They carry on regardless and don't make a fuss, but I am genuinely worried for them, and I reckon they may well be a few on here with parents in the same or similar situations.

    Now, my question is this. Given that the QE of late could devalue the pound, or create hyperinflation, or some such other GBP related doom, and they are earning next to no interest, should they move their money into something else, such as gold for example?
    Knock first as I might be balancing my chakras.

    #2
    If you genuinely care for your folks, don't take investment advice from the buffons (me included) on here.

    I suggest sticking it all on red and hope for the best.

    Comment


      #3
      Originally posted by oracleslave View Post
      If you genuinely care for your folks, don't take investment advice from the buffons (me included) on here.

      I suggest sticking it all on red and hope for the best.
      I agree! Listen to OracleSlave. He is correct in everything he says.... except I would put it all on "even"

      Comment


        #4
        Originally posted by suityou01 View Post
        My parents are ex contractors (it's in the blood I tell ye) and retired now. They have been retired for years and living quietly off the interest from their modest war chest and meagre pension.

        The trouble is, there is no interest, or much less. They carry on regardless and don't make a fuss, but I am genuinely worried for them, and I reckon they may well be a few on here with parents in the same or similar situations.

        Now, my question is this. Given that the QE of late could devalue the pound, or create hyperinflation, or some such other GBP related doom, and they are earning next to no interest, should they move their money into something else, such as gold for example?
        Don't give me that. You are genuinely worried that they are going to have to start eating into the capital and spending your inheritance.

        Comment


          #5
          Originally posted by Drewster View Post
          I agree! Listen to OracleSlave. He is correct in everything he says....

          Comment


            #6
            But Gold pays precisely zero interest. Look for good solid dividend plays in the stock market and hope for the best.
            Public Service Posting by the BBC - Bloggs Bulls**t Corp.
            Officially CUK certified - Thick as f**k.

            Comment


              #7
              Originally posted by Gonzo View Post
              Don't give me that. You are genuinely worried that they are going to have to start eating into the capital and spending your inheritance.
              It took 3 posts to get to that?
              Knock first as I might be balancing my chakras.

              Comment


                #8
                Originally posted by oracleslave View Post
                If you genuinely care for your folks, don't take investment advice from the buffons (me included) on here.

                I suggest sticking it all on red and hope for the best.
                Absolutely.

                One thing I will say though is give it a couple of years and interest rates will be very, very appealing for savers
                Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God? - Epicurus

                Comment


                  #9
                  Originally posted by Fred Bloggs View Post
                  But Gold pays precisely zero interest. Look for good solid dividend plays in the stock market and hope for the best.
                  You make your money if the price of gold goes up I think. Buy at price X, and sell at price Y. Y-X equals profit.

                  Hang on a mo .....

                  <searches draw for some crayons>
                  Knock first as I might be balancing my chakras.

                  Comment


                    #10
                    Originally posted by suityou01 View Post
                    It took 3 posts to get to that?


                    No. I started that response as soon as you had posted it.

                    While previewing it I thought the response was a bit aggressive so I cancelled it.

                    After a few minutes I thought "what the hell?"


                    On the plus side, as long as RPI inflation is negative the capital is not being erroded by the low interest rate.

                    Comment

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