For me, the investment case doesn’t add up
A scary repercussion of being cancelled and jobless is how fast the money runs out. Whatever counter measures you put in place — selling the car, no champagne before 3pm — regular outgoings soon swamp them. This is why financial advisers recommend keeping a certain proportion of assets in ready cash. You simply never know when you’ll be on stage at a conference telling a joke about Miami being underwater. The rule of thumb is an amount equivalent to between three and six months of income.
But holding a heap of cash can be the right investment call in certain circumstances . And that is when the outlook for every other asset class is worse. What is “worse” though? If it means a straight comparison of returns after adjusting for inflation, then it is hard to understand why cash is any more attractive today. Here in the UK, for example, the best instant access savings accounts offer around 5 per cent interest. With inflation at 6 per cent, that is a real return of minus 1 per cent.
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