Cash rates on bank accounts are more attractive than they’ve been in a long time. But inflation is far worse than it’s been in a long time too…
So while it was grim getting paid 0% on savings through the 2010s, it helped that inflation was around 2%. Your cash was worth about 2% less by the end of every year. After tax you might now get 3% on a basic savings account but, inflation is still at 7%. So, yes you’ll get some interest which is nice – but even after that, your cash is now worth ~4% less by the end of the year.
Until savings rates are above inflation, cash is a guaranteed negative return strategy –