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In an economic downturn having a few hundred thousand pounds / dollars sitting in the bank they will have more options than your average person. The economy wo
by VBprogrammer 8y ago
In an economic downturn having a few hundred thousand pounds / dollars sitting in the bank they will have more options than your average person.
The economy would have to be completely screwy for there not to be a way of making money from capital. Even if the currency goes into hyper inflation you are much more likely to be able to get it out into a safer currency when you have enough of it lying around.
- rwmj 8y agoBrexit says hi! Fortunately I can invest in overseas stocks and bonds to defray some of the problems, but don't count on "having a few hundred thousand" in the bank as being worth much if your country decides to leap off a cliff.
- IanCal 8y agoDiversified investments mean you will see much less of a drop (or even a rise in local currency). But let's think through the case that stuff in the UK drops by 50% and you're entirely invested within the UK. Instead of having "a few hundred thousand" you'd have somewhere north of £100000 (depending on what you mean by 'a few'). That sounds to me like it'd give you some security, or help a move to another country.
- benj111 8y agoBut surely Brexit is an argument for building a nest egg. The Boris Johnsons and Jacob Reece-Moggs of the world aren't worried about the financial aspects of Brexit, because they have a 'nest egg'.