Warren Fernandez
Sun, Apr 06, 2008
The Straits Times
It is ironic. Singaporeans who are uncomfortable with taking financial risks and who prefer to leave their cash untouched in savings deposits are in fact taking a big risk by not protecting themselves against inflation.
The continued rise in the cost of goods and services is a clear indication that inflation is creeping up on everyone and eroding the value of their money.
For instance, a movie ticket cost $1 in the early 1970s. Fast forward to today and a weekend movie outing will set you back by $10.
If you are one of those risk-averse investors whose money is mainly in bank deposits and you think you are ‘playing safe’, think again.
In the long run, your savings will actually shrink and you could become poorer, not richer, because of inflation…..
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