Patient investing pays off

The interest rate you get on a cash Isa is still pretty abysmal. Your weekly food shop, energy bills, transport costs – all of it was 5.5% more expensive at the start of this year than in January 2021. Meanwhile, the Bank of England’s key interest rate is still below 1% and it’s very hard to get a savings rate that yields much more than that (see page 34). You don’t have to be a maths wizard to work out that with that disparity, your wealth is being inflated away rather too rapidly