Yes, I have roughly 92% on my money across multiple banks to ensure FCS coverage in high interest accounts. As to why, when inflation is 10% and interest is 5%, Well I have 0 debt, low cost of living and practically no overheads. If my cost of groceries goes up a few bucks I couldn’t care less, the interest I make from extremely low risk savings exceeds the ‘real’ cost of inflation by a substantial amount. The money I make that exceeds the real cost of inflation goes directly into high risk speculative gambling so I essentially get to gamble for free.
Is there better ways to invest and get better returns? Probably, but I have no desire to take more than I need.
