Praveen Mahadani, MBA (INSEAD)

Aim to maximise your cash savings

It might shock you to know that 28% of people hold their cash in interest-free savings accounts⁽¹⁾, receiving no return on their hard-earned money. Because under current rules a basic rate taxpayer can earn up to £1,000 in interest from their savings without paying tax, these people could be missing out on a significant financial boost that they could be enjoying.

This is even more relevant when you consider that the average person typically holds up to 25% of their available money on cash deposit⁽²⁾. So, by reviewing your cash and tackling any ‘lazy money’, you’ll be making a great start at getting your finances in shape and achieving longer-term financial security.

If your money isn’t working as hard as it could, I can help. By making it easy to access potentially better interest rates, I can help you to aim to maximise your cash savings – giving you more money to spend on the things you enjoy or helping you grow your money towards a longer-term goal.

¹ Building Societies Association Sept 2024
² The Lang Cat: Cash as an asset class survey June 2024

Cash on deposit advice is not regulated by the Financial Conduct Authority.

I came to the UK almost 25 years ago from India to work in the ICT industry for financial services clients. As a family, while we had a comfortable life style, we had no savings even in to our early forties. Then I lost my job at the age of 45 due to redundancy. At that point, the only assets we owned were a mortgaged house and savings in a deposit account. We had no investments, no pension and no provision for replacing lost income. While I was lucky to find another job, this was a wake-up trigger for me to start thinking about financial independence for my family.

It is my mission to ensure that you do not suffer with the same handicap. I now help individuals & company directors build their wealth, plan for a comfortable retirement and pass on wealth to the next generation – in the most tax efficient ways possible. My client engagement approach is simple & jargon-free - enabling clients to navigate topics like investment strategies, tax-efficient savings and effective retirement & inheritance planning with clarity and confidence.

In my free time, you can find me volunteering with Age UK, in a yoga class or on a tennis court. I have a grown-up daughter as my only child, who finds me quite irritating. I live in outer London (Purely, Surrey) and advise clients in and around London & Surrey.