Recently The Courier Mail and The Australian published an insightful article by Bruce Brammall “Why your cash savings are making you poorer”.
If you missed it or don’t have a subscription, the key points were:
· Australians are sitting on more cash than ever before.
· Cash at the moment is going backwards.
· Everyone needs to hold some cash for emergencies but holding too much isn’t going to do you any long-term favours.
· How much to invest in growth assets such as shares and property depends on how much risk you are prepared to take.
With current term deposit rates with a high-grade quality bank averaging from 0.1% (for less than 12 months) to 0.5% for up three years, your return after inflation would be around minus 2.0%
24kWealth can help you to understand your investment options, develop your risk profile, and make your money work for you.
We offer a complimentary, obligation free initial consultation.
