Lamport Bassitt Solicitors - Legal News - Expert outlines the merits of saving cash


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Expert outlines the merits of saving cash Anyone looking to consult an expert's opinion regarding personal insolvency matters might agree that it is preferable to allocate specific funds to a savings account. Patrick Connolly, head of communications at AWD Chase de Vere, observed that many savers are currently "in a difficult quandary" about what their strategy should be. He advised: "Everybody needs some holding cash – if nothing else, for a rainy day emergency fund." The expert added that despite the low interest rates currently on offer, it is a good idea to have some cash to fall back on. However, Mr Connolly acknowledged: "Savers are in a very difficult position, because either they stay in cash ... or they invest and they take some risk." The solution may be to invest in a diversified portfolio in order to spread the elements of risk, perhaps across areas such as fixed interest rates and property. According to the Fair Investment Company, 69 per cent of savers are considering investing in riskier assets in the future. Posted by Mark Phillips Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News