Offshore savings accounts compared at
IS CASH ALWAYS KING???
Whereas saving is about the accumulation of money for future use, and the avoidance of waste, investment is choosing where to put that money in the meantime to achieve the best return.
Is keeping cash the best way for you?
Should you be keeping your money in the currency:
An all-eggs-in-one-basket strategy may not be best. The US$ fell nearly 30% against the Euro in the past four years, and the Russian Rouble crashed by 99.5% against the US$ over the 10 years to 1998!
It pays to diversify.
Wherever your money is, it is increasingly likely that someone wants to tax it:
Tax avoidance by non-disclosure is clearly illegal and will soon be virtually impossible.
Holding cash directly may not be the most tax-efficient way.
Eats away at the spending power of your money (3% inflation over 10 years means your money will have lost a third of its value).
Does the interest you receive on your cash, after tax, even keep up with this?
When will you need the money back? If in two, three or more years time, perhaps it is worth looking at alternative ways to invest?
Copyright 2004-5 Synapse Ltd. This website is intended to alert you to savings options. In no way does it offer specific investment advice or endorse any of the organisations or products listed. We try to publish accurate and timely information, but do not guarantee to do so. You must check and confirm everything to your satisfaction directly with borrowers. If you see anything missing, inaccurate or non-functioning on the website please let us know.