Basics of Investing

Question: Should i get put savings somewhere else than in the uk £?

i have about £70K in uk banks and am worried the £ will crash at some point in the near future……im not very investment savvy and dont want to put it at any risk so what should i do with it?
euros
dollars
gold
any advice please

Answer: Assuming you live in the UK ….and your TOTAL savings are £70k…..then I dont really understand your question …Is it -
1) You want to spread the risk of your total investment being in Sterling by spreading this about into other currencies.
OR
2) You want to speculate in investments

It depends on why you think Sterling will crash…..but assuming it’s only relevant relative to the Euro and $USD …then open a UK bank account in either currency and put what you think is an appropriate amount in there. Of course – if you put half in …then I guess you are just hedging your bets and are likely to win or lose very little over time.

Generally if you think you home currency is going to tank…..buy a commodity like gold and hope that stays good. Of course gold has gone up hugely inthe last 18 months…so again…it’s really only a hedge bet….but I guess thats what you’re after.

Dont mix up speculating with hedging …..like some of the answers here. If you’re risk adverse ….and believe the problem is Sterling crashing ….then hedge that way …not buying property or whatever …that wold be a bad strategy if you think Sterling is going down – guess what ….so will house prices. You probably already have a house …why invest more in this market if you think Sterling is going to crash??

Although a lot to some ….£70k is not that much…hold onto it safe if thats all your money.

Good luck

Pearl Savings & Investments – 1991 UK Advert

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