Does anyone else ONLY save into Non risk accounts?

[investmentquandry]

Having been badly burned with a shareholding I had (huge loss), I currently keep my savings in a cash ISA (4.10%), and a digital saver (6%). The digital saver has £5k in it, and there's no point adding more, as anything over £5k only attracts a 1.25% interest rate.

I am going to get a lump sum soon, from my Pension, and I'm thinking of placing this into a NS&I savings bond (3.6%).

This will mean that I am not risking any of my capital, but I like the no risk element.

Is this foolish, or do lots of people do this?

I only put money in safe accounts too. I also worked for a High St bank many years ago and whilst I only had a few shares that lost money, one of my colleagues/friends had a lot and lost a lot of money that still hasn't been recouped many years later.

But cash devalues over time, so really there’s no safe option. In fact by saving in cash you know for SURE your money will be worth less in five years than it is now.

I'm like you OP.

Of course, no-one needs to take a risk with their capital if they don't feel comfortable with it.
The OP asked if most people stick to risk-free cash savings, as they had previous experience with a huge loss of a share holding.

I offered my own experience - that there are other options that might be worth considering with very low risk and a slightly higher return. Whilst there are cash savings options which currently beat inflation, this has frequently not been the case.
Whether this option might suit the OP will depend on her tolerance of risk.

I do this. The advice has always been 'only invest what you can afford to lose' and I can't afford to lose anything, so...

I have quite sizeable savings now but its all in non-risk savings accounts. I keep an frequent eye on best savings accounts and move money to keep it in the highest accounts. My money is a mix of fixed rate bonds and notice accounts, sharia accounts and easy access accounts.

Only if you keep it in very low or no interest accounts. There are decent paying risk free accounts out there.

Well yes, but you have complete certainty about exactly what you have and you can get it whenever you need it.

Looking back, we'd be much better off if we'd put savings into the stock market and chosen wisely, but that's just hind sight. I'd rather not have the worry.

This has only been true for the past year. Before this savings lost out to inflation for years.
Sharia accounts are protected on principle capital, but any potential returns are not guaranteed (and could be a zero return).

If you have an N S & I bond, opt to take the interest annually, and put it in a cash ISA. If it is fir several years, you get paid at the end and the whole amount is liable for tax. Depending on you circumstances, abd how much it is, you get the £1,000 interest allowance each year so you may not pay any tax.