Farley And Partners

Bank and building society accounts

Although, as we have already suggested, history records that long-term investment in shares will outperform savings with a bank or building society, you should not overlook (1) the somewhat higher degree of certainty over investment return, albeit current rates are less than inflation and (2) the (usually) ready access to your funds. Interest is liable to income tax.

Such accounts are often held as emergency funds. An ideal solution is to have instant access to a sum equal to at least two months’ income.

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