How much of your savings are covered if a default occurs?

Here are the current defaults in the UK, Europe, and the USA compared to Thailand.

  • UK £85,000
  • Europe €100,000
  • USA $250,000
  • Thailand 1,000,000 Baht

In August 2021, they made announcements in Thailand, which shocked savers that have seen the level of protection on their savings account reduced to one million baht. Like many other countries, Thailand has reduced its protection level, all in the wake of the Financial crisis in 2008.

Above we have listed but 4 of the levels of protection around the world; they are significant but not at levels that will protect everyone’s savings. This theme means that we should note how we invest, where we invest and use partners to spread the risk and increase our protection.

Some would say that you should diversify your asset class and look at options like gold, the very speculative alternative these days is a cryptocurrency, not for me, but some may see it as a safe haven?

So, where does that leave you when considering where to invest your hard-earned money? For most, it is about diversifying what you have; this, in most cases, is made up of the following: Residence, bank account, savings, investments and pension.

We should all take the time to make sure that we have used all the sources available to us, then, if not entirely happy, speak to an adviser who can help assist you with all of these areas.

Don’t let the protection level become your enemy; start planning now and speak to us to find out how to help.



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