03 April, 2009
The continued downward pressure on interest rates,and thus the returns from cash on deposit, is creating challenges for investors seeking a steady stream of income.
The Bank of England has cut rates to historic levels and even the chances of winning a million pound on the premium bonds has been reduced.
The recession has started and the outlook is challenging so people now need good quality advice as more of them look for alternatives to cash.
Even with cash investors should not only consider Cash ISAs but also ISA Transfers especially if their current provider is no longer providing competitive interest rates.Savers should also take advantage of all their ISA allowance and not just cash.
More and more savers are questioning the safety of their money held on deposit.Most people are now aware of the Financial Services Compensation scheme but investors should also be aware of how this scheme also provides protection not only for deposits but some protection for Insurance Policies and Investment Business as well.
There has never been a greater need to ensure a balanced and diversified approach to investing .