Cost of Saver Inaction

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Tony Talks Wealth Podcast

Tony Thomas

100 episodes

3 weeks ago

Welcome to Tony Talks Wealth!

Tony interviews real people about their money journey, challenges and how they overcame them. You will learn personal finance and practical money management tips to help you get your finances in order as well as your money mindset.

He also discusses how to invest and plan for an early-retirement and financial freedom in simple, easy to understand language. It’s time to plan your finances and create your own ‘GAME Plan’.

‘If you fail to plan, you are planning to fail’ – Benjamin Franklin

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Self-Improvement

Education

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Welcome to Tony Talks Wealth!

He also discusses how to invest and plan for an early-retirement and financial freedom in simple, easy to understand language. It’s time to plan your finances and create your own ‘GAME Plan’.

‘If you fail to plan, you are planning to fail’ – Benjamin Franklin

Hosted on Acast. See acast.com/privacy for more information.

Self-Improvement

Education

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Cost of Saver Inaction

Tony Talks Wealth Podcast

6 minutes 12 seconds

3 years ago

Cost of Saver Inaction

Many savers believe that inflation will have no impact on their savings or even leave them better off. In this episode Tony spells out the real effect that inflation can have on your savings and what to do about it.

KEY TAKEAWAYS

The total cost of saver inaction, if inflation continues over the next five years, could amount to 18 billion pounds.
Work out how much of your savings you need to put aside for easy access emergency funds.
Get the best interest rate you can on your savings. Remember, though, that those rates offered can drop dramatically over time, so always keep an eye and be prepared to switch when necessary.
Think about investing your money or topping up your pension to beat inflation.

BEST MOMENTS

‘More than half of all cash savers don’t understand what impact inflation will have on the real value of their cash savings over time.’

‘As a rule of thumb, aim to cover your essential expenses for between three to six months.’

‘The key thing to remember is that investing is for the long term.’

VALUABLE RESOURCES

Tony Talks Wealth - https://omny.fm/shows/tony-talks-wealth

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.

“Live For Today, Invest For Tomorrow”

CONTACT

Tony’s official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

This show was brought to you by Progressive Media

Hosted on Acast. See acast.com/privacy for more information.