Deciding whether to invest your money into funds can be a tough decision and gathering the facts about whether investment is for you can be key to making the right decision.
I still remember, a long time ago, being a child and my grandmother saying to me "you must save your money to build a bed that you can lay in". Of course, I thought she was joking but despite the years, saving cash and storing it under your mattress for rainy days is still believed, by many, to be the best way to save money. However, take into consideration the different factors that could affect this method such as the rate of inflation and you could be looking at a very different outcome for your pennies.
2016 was, without a doubt, a year full of uncertainty for the UK and for much of the world. With the vote for exiting the EU back in June, the announcement of re-elections only a few weeks ago and the instability of the pound, inflation has started to creep up since the beginning of 2017.
The website rateinflation.com shows that inflation rates have been high since the beginning of the year compared to 2016, hitting an inflation rate year-on-year of 2.3%, as reported on the 11th April 2017.
Of course, saving money where easily accessible for emergencies such as redundancies and illness is always a smart option but further to this, investment could be an exciting project to build and sculpt your future to be whatever you want it to be.
So, what do I need to know? - Online Investment Management
For your savings to grow in real terms over time, they need to create a return after tax that is greater than inflation. With current low interest rates, finding a savings account which delivers a return higher than the current inflation rate can be more than a challenge.
Your financial situation will change from time to time - this is to be expected, but it's important to remember that you can alter how you invest to suit that. There are lots of different ways of saving and investing money and many different funds to choose from that will meet your personal requirements.
What are the advantages of working with us at Elson Associates? - Online Investment Management
We offer an extremely cost-effective way to invest and hold your investments, with no initial charges on thousands of funds through Cofunds and Fidelity with an annual ongoing fee lower than the cost of your early morning cup of coffee, once a month (on a portfolio of £10,000).
At Elson Associates, we have been providing outstanding customer service and online investment management for over 20 years. Our understanding and expertise makes us a one-stop-shop for all your investment needs. Click here to visit our contact page and start building your future today.
Elson Associates does not offer advice as to the suitability of investments. If you are unsure whether an investment is suitable for you, you should obtain expert advice. Past performance of an investment is not necessarily a guide to its performance in the future. The value of investments or income from them may go down as well as up. You may not necessarily get back the amount you invested.