The financial crisis in the United States isn’t only hitting the US, it’s been stretching across the globe. The stock markets have been taking a hit worldwide and all other investments are becoming a lot more risky. With people scared to invest their life savings many people in the UK have been buying safes.
Lots of people in the UK are going as far as to take their money out of their banks and keeping it in a safe at home. Now I don’t quite understand if this is a good idea yet, but it makes me wonder if crime will start rising especially home invasions.
Will the recent trend of placing all your life savings into a safe move into the United States market? It’s hard to say, but if things keep going the way that there going right now then I would suspect people will start pondering the idea. At least with your money in a safe you know it’s there and it won’t disappear.
Businesses in the UK who sell safes have reported that there sales are up about 66% from this time last year which is quite a bit. I don’t think we need to worry about that happening here, but the UK don’t feel safe.
With the economy dropping right now at a steady pace and things becoming more expensive each month how are you dealing with it? Have you walked away from any investments or real estate anywhere around the world? We here would like to here all of yours situations so that we can talk about them and what everyone can do.
I have a feeling this problem isn’t going to be fixed anytime soon and everyone is going to need to do there own thing to survive. Right now I think the best investment is keeping out money put away and not investing in anything. The markets are very volatile right now and when you don’t have a lot of capital it’s easy to lose everything. My recommendation would be to stay away from any investments right now until things start cooling down which may take a couple years.
Taking care of your finances has never been more important for this generation and this is the first real problem we’ve seen in the economy in a long time. If you’re new to this and don’t know what to do then you should seek the consultation of a financial advisor who can help you get out of bad investments and into a safe investment. You might just want to put the money in your bank even for now while things are this bad.
