How long should I lock my savings away for?
Q. I am looking to lock some money away into a fixed-rate bond but am unsure of what length to choose. I am recently retired and get a regular private and state pension income and my main expenditure over the coming years will be holidays. I don't want to lock my money away for too long if interest rates will rise again and I can get a better deal — is there a safe option to opt for?Name supplied
If you want to keep your money in cash, locking some of it away in a fixed-rate savings account, known as a bond, can be a good idea — particularly if you value the peace of mind that comes with knowing exactly how much interest
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