Bank deposit ratio

[Dankanugget]

Hi all just a question.

Since people here invest their money in metalsi was wondering how much do they trust their banks with the remainder of their capital?

I mean are some or all ....all I'm on metals or still leave a big amount in their bank to gain 4+5 ,% per annum?

D

[Tn21]

Can't beat holding money in the bank, as bad as it has been. Money in the bank provides you with options and routes to go down. 

 

Metals on the other hand very limited options and ultimately your at the mercy of spot. 

 

I hate banks with a passion but in the world and system we live in, for a normal working person you need to be banking. 

[Dankanugget]

I agree 👍

[Stuntman]

As someone who is likely to stop working later this year, I'm building a bit of a cash pot which is currently generating about 5% interest until I can start drawing down on my pension.  This is spread across various banking groups so that I have diversified the risk.  Not that I have a vast amount of cash, but just good practice to spread the risk.  

I need to make sure I've got at least a year of living expenses in cash (preferably three years) until gold goes to the moon 😉

[JamesH]

My gold has pretty much become a long term savings account that I can call on for bigger items if needed but still have some cash in the bank for day to day as well as in ISA’s 

[SovereignBull]

Bank 0 Gold/Silver 100 FML 🤣

[Dankanugget]

7 minutes ago, JamesH said:

My gold has pretty much become a long term savings account that I can call on for bigger items if needed but still have some cash in the bank for day to day as well as in ISA’s 

I'm about middle at the moment and I hear arguments a lot about being totally outside the bank and I understand it totally it's just a decreasing mindset for me month to month regarding the banks and the trust of the system in general due to information you hear throughout the year 

[Roy]

1 Emergency Fund

2 Dry powder

You need to be fast and have liquidity when opportunities arise.

You hold gold for the times they don't?

[MrStacker]

1 hour ago, JamesH said:

My gold has pretty much become a long term savings account that I can call on for bigger items if needed but still have some cash in the bank for day to day as well as in ISA’s 

Pretty much the same for me.

If one hates the bank with a passion and can't stand to keep a substantial amount in it then an alternative could be premium bonds or NSI savings account. They are quite fast when you want to cash out and transfer funds to your connected bank account. I would still keep funds for bills etc in the bank as you don't want to go minus so rapidly or so often.