If you look at NS&I interest rates, they are well below the inflation rate.
So what is the point of that service?
IBM has won a contract worth £34.2 million (c $41.2 million) as part of a tranche of technology upgrade deals from the UK's National Savings & Investment bank set to be worth hundreds of millions. The bank, which is an Executive Agency of the UK's Chancellor of the Exchequer has awarded Big Blue the contract for "Digital …
In the current climate, are there many banks or building societies with run-of-the-mill savings accounts that will keep pace with inflation?
I guess if you invest in Premium Bonds then you could get an inflation-busting return on your invsetment, but that's very much in the lap of
the gods ERNIE.
the point of NS&I's savings accounts to is to increase your money in a risk-free way.
Exactly, and they fail on that front because the return is below inflation, which means you are losing money always. They should just close the thing.
For ETF you need to get professional advice or do solid research, but you can't go wrong with it long term.
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