Lee Boyce

Lee's stat of the week.

I'm going back to the first story about the million pounds versus 1,000 pounds a week.

I was crunching some numbers on one of my favourite...

favorite things on the internet which is the compound interest calculator man i can spend hours on this thing i love it just tapping in numbers looking at the compounding adding years adding deposits in interest rates oh i just love it anyway million pound initial investment five percent annual returns how many you don't touch the money how many years do you think it would take with a five percent interest rate on a million quid for it to double

If you left that £1 million in, getting 5%, it takes 13 years and 11 months to double to £2 million.

That's if you don't touch it, but you'd have to not touch the money.

Which actually, going back to that story at the beginning, if you did get that lump sum of £1 million, you'd have to probably put it in some investment and get returns rather than stick it in property if you wanted to live on it for the rest of your life.

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Well, Georgie, obviously when you book a holiday, sometimes insurance is at the bottom of the pile of things to do because sometimes booking a holiday has taken a lot of mental effort already.

The flights, the hotel, the destination.

And I don't know, people like me, I like to pour over all of these details and really kind of get it right because holidays, typically if you're taking one, two or maybe three a year, you want to make sure that they are giving you, you know, the best experience possible.

In terms of insurance, then you might go, oh, I'll do it a bit nearer the time.

And then I think people just forget to do it or potentially just don't do it whatsoever, which is not good.

You should do it as soon as you book because it's going to give you the most amount of protection possible.

But when you're looking through policies, you've got to look for wording that is in these because a lot of them will not work.

cover you for things that are going on in the middle east it's just not going to cover you for war hostile acts civil war military action and those kind of things it's unclear about the fuel shortage element of this there's not really it's not really been a thing before but you want to check with your insurer whether or not you're going to get covered if something does happen and the airline links it to fuel shortages but really the onus is on the airline because