Dr. Andy Egwim, a UK GP and investor, warns that 63% of new ISA accounts are cash ISAs earning below inflation. Keeping £20,000 in cash won't grow your money, and this mistake can wreck your retirement plan.
And there's one mistake almost no one talks about that could completely derail your retirement plans with real stories from medics and investors just like you. And I'll share with you how to avoid them. Hi. And if you're new here, I'm Dr. Andy Gwim. I'm the founder of moneywivesdoctor.com I'm a UK based GP. I'm an investor with over 20 years experience. Over the past couple of years I've helped over 10,000 medics save smarter, invest better and avoid costly financial mistakes through my guides, masterclasses, blogs. A staggering 63% of new ISA accounts being opened. Majority of them are cash ISAs. In fact, last time I looked at the government figures, only 6% were stacked on shares ISAs. If you keep up to £20,000 just in your cash ISA, you probably get the interest rate but you'll not be able to beat inflation. It's like filling a leaky bucket. No matter how much you pour into it, it will never stay full.
