5 Reasons Not to Hold Too Much Cash

Cash has been king this year as savings balances swell and the economy wobbles, but it's not a great long-term proposition to reach your goals

James Gard 7 January, 2021 | 10:41AM
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Job uncertainty, no holidays, minimal commuting costs and closed shops are just some of the reasons why some British savers built up big stockpiles of cash in 2020.

The Bank of England estimates that this stockpile could have grown to a staggering £100 billion and while some of this may have been put into pensions, much is languishing in cash savings accounts and looking for a home.

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James Gard  is content editor for Morningstar.co.uk

 

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