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Rich List And Ordinary Mortals
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The so-called Rich List is in the news again and refers to numerous individuals having £billions. What do they do with it all? An ordinary mortal saving for retirement has the worry of what to do if their savings reach the compensation limit of £85,000. Not all people, especially elderly folk, want the worry of coping with more than one bank account. Are there any practicable alternatives?
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i'm not sure i'd class someone with 85 k savings they're worried about as "ordinary"!
The only practicable alternative (if you don't want the hassle of more than 1 bank account) is to cross your fingers and hope the banks don't collapse. Or get someone elseto manage all the "hassle" of your 85k!
i'm not sure i'd class someone with 85 k savings they're worried about as "ordinary"!
The only practicable alternative (if you don't want the hassle of more than 1 bank account) is to cross your fingers and hope the banks don't collapse. Or get someone elseto manage all the "hassle" of your 85k!
Most of the people listed with seriously large fortunes have their money tied up in property and bsuinesses.
It gives the impression that they could walk into a bank and draw out a billion pounds, but of course that is a false impression - ready cash would not be a problem, but it's not in the amounts that the Rich List quotes.
Suffice to say they probably don;t need to worry about paying off their credit cards every month!
It gives the impression that they could walk into a bank and draw out a billion pounds, but of course that is a false impression - ready cash would not be a problem, but it's not in the amounts that the Rich List quotes.
Suffice to say they probably don;t need to worry about paying off their credit cards every month!
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