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Premium Bonds


ditchman
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any one own premium bonds ?............how do you get on with them.......most of my other mates have them...and they generally report they are getting a better return on them than other savings..........(im talking about the ordinary bonds not the green bonds that are locked up for 3 years)

ditch

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I also win a few quid a year not more than about £100 but it’s good to have money that is not tied up for years with penalties to withdraw your own money ….. and there is the chance to win a big prize unlike the lottery where your money is gone after one draw. The downside is depreciation of the sum invested and not having the maximum amount of cash to invest. But good luck to everyone!

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Mrs 7days has 1.5k invested in premium bonds since she was teenager, she used to get a regular small yearly return. After the 2000's it became every other year for quite a few. Not very often does she now get any return. (maybe she keeps it a secret) :lol:That said, over the years she has probably had a few hundred quid from the investment.

atb

7diaw

P.S. Ditchy I will send you some of my Bitcoin 😁

Edited by 7daysinaweek
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30 minutes ago, McSpredder said:

£2 invested in Premium Bonds since they were first issued in 1956, total income nil to date.   Could have put the money in my Post Office savings account and got sixpence in the pound at that time.   Alternatively, I could have bought 86 Eley "Fourlong" (£2-6s-6d per 100) and had a lot more fun.

I've had one since they first came. Must check to see if i've won anything. I'm an old boy now so i'm spending my money as i said in another post.

 

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15 hours ago, Cranfield said:

If you are risk averse and don't want to lose any of your capital, then Premium Bonds (instant access) are a good option.
With most instant access savings accounts the interest rate is less that 1%.
Even non fixed ISA's are only around 0.67%.
Its not really a good time to be a saver.


This. But, in addition, if you factor in inflation (and I favour working out inflation with your own eyes and not just the rigged RPI basket of goods) then all safe savings schemes are actually costing you money in real terms. 

Warren Buffet only yesterday said inflation is here, it’s real and it’s not going away. He also has famously said of inflation ‘the arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislature. The inflation tax has a fantastic ability to simply consume capital’.

In short, if real world inflation is running at 5% (which I believe it is at least right now) and you’re getting at best 2% on your savings, then standing still you’re losing 3% of your savings each year.

Glad to cheer everyone up 😆

 

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Premium Bonds are solid investment with very easy access should you need money at the drop of a hat.  The best way if possible is to have the maximum amount permissable and that will normally pay out a reasonable return.  It is a gamble BUT you do not lose your stake.    Obviously the more risks in investment you take the better returns but the word is RISK.   40 odd years ago it became possible to take out private m pension schemes and the Police Federation advised against it and to stick with the standard police pension. Howevr, some officers dropped out of that and went for what appeared lucrative private pensions and subsequently lost their shirts.

As said solid safe works out best in the long run even if a few percentage points below what is offered and Premium Bonds are solid and safe.

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