high street banks
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Why you should avoid the 5-8% High Street Bank savings rates
Saving money in a high interest bank account seems responsible. But even 5% interest doesn’t compete with 7-10% average stock market returns over long timeframes. Let’s compare John who saved £10K in a 5% savings account versus investing it. After 35 years, John’s savings earn him just £25K interest. Meanwhile, investing at 8% over the…