“Why your cash savings are making you poorer”

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.