Best place to squirrel some cash

[harrycatcat1]

54 minutes ago, ditchman said:

Gravy futures 

😉😉😉👍👍👍

[mattsccm]

How about real gold.ie Sovereigns? Yes there is the storage issue but it is gold and in years to come less likely to be "found" by the tax man.  One would make a nice present for example. 

Usual gold price fluctuations of course. 

So, how are people doing this premium bond thing? Buying them and relying on winnings for the income? 

[marsh man]

One worry I don't have to contend with , like one of the previous members said he is now at a age where it is not much help in keep swapping it about and spending it as he go along, what I have got spare is in a yearly fixed ISA with Yorkshire where you can make two withdrawel's during the year , looking at a year ahead is as much as I want to invest in and hopefully in a years time I will do the same , in the mean time I try and enjoy each day as it come , I think about money but very rarely worry about , life is far to short in keep moving your spare cash about for an extra small point of a percent   MM

[Wilts#Dave]

24 minutes ago, mattsccm said:

How about real gold.ie Sovereigns? Yes there is the storage issue but it is gold and in years to come less likely to be "found" by the tax man.  One would make a nice present for example. 

Usual gold price fluctuations of course. 

So, how are people doing this premium bond thing? Buying them and relying on winnings for the income? 

That’s all you can do with premium bonds…..your numbers get entered into a monthly draw and if you’re lucky and yours is drawn you get from £25 up to a million pounds, obviously the more bonds you’ve got the greater chance and they average out the probability of winning into a %. Saying that you can get more or much less regardless of how much you’ve got in there…..but any winnings are tax free and your original amount never goes down so not all bad. 
If you’re a high tax earner and have used your savings allowance elsewhere they’re not a bad place to put some money, but personally found you need 40-50k to get fairly regular winnings. 

[billytheghillie]

been told to look at Shawbrook bank, isa.

[merv]

Kent reliance, 4.75 % one year bond 👍

[rovercoupe]

Cartridges, at the rate there going up you could sell them in a couple of years and make a decent amount

[Jim Neal]

4 hours ago, rovercoupe said:

Cartridges, at the rate there going up you could sell them in a couple of years and make a decent amount

That's quite possibly the most shrewd answer of them all so far 😕

I can also vouch for premium bonds, in so far as they keep trickling you small wins, usually approximately equal to interest of 3-ish percent on an instant access savings account.

Do you need instant access?  If so, the best rate I have seen recently is with Chip, which is not a "bank", just an online app.  Don't be put off, it's kosher, I've got quite a few g's in there running at 3.71% last time I checked.   Check out MSE for more info https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#easyaccessanalysis

[TIGHTCHOKE]

10 hours ago, rovercoupe said:

Cartridges, at the rate there going up you could sell them in a couple of years and make a decent amount

It is indeed!      

[old man]

On 08/05/2023 at 13:15, team tractor said:

I’m lost sorry  
it’s just a normal internet banking 

Well, not  sure what I did then but it wanted unrestricted access to my current account to monitor something or other?

I dumped  it straight away.

Edited May 9, 2023 by old man

[team tractor]

4 hours ago, old man said:

Well, not  sure what I did then but it wanted unrestricted access to my current account to monitor something or other?

I dumped  it straight away.

It’s a little hard at first to navigate the app I can agree on that . I can shift the money about easy and instant

[Minky]

On 08/05/2023 at 10:12, samboy said:

I'm an old boy so i'm spending my money before i rub out.

I completely understand this.  My eldest sister didn't fair well with a bad covid attack.  She has had to go into a care home and is paying £4500 a month for the privilege .  They have taken most of her life savings and are looking at her family home.  SO last year's holiday to Tenerife and this year's to Madeira have mainly been paid for by my tax free part of my pension pot.  Both myself and the Mrs have sufficient other funds. SO  I am going to enjoy the fruits of my labours before some private company dips their hands into my pockets so that they can enjoy my labour.

[Jim Neal]

1 hour ago, Minky said:

I completely understand this.  My eldest sister didn't fair well with a bad covid attack.  She has had to go into a care home and is paying £4500 a month for the privilege .  They have taken most of her life savings and are looking at her family home.  SO last year's holiday to Tenerife and this year's to Madeira have mainly been paid for by my tax free part of my pension pot.  Both myself and the Mrs have sufficient other funds. SO  I am going to enjoy the fruits of my labours before some private company dips their hands into my pockets so that they can enjoy my labour.

It's heartbreaking to hear of this and so many other identical stories.  If anyone is reading this and thinking they might end up going down the same path, have a very serious look at putting your house in trust to the eventual beneficiaries of your will.  This not only helps with care fees but also inheritance tax.  Take some professional advice.

Also a good idea, presuming one has a trustworthy relationship with one's sons/daughters, is to set up both types of Lasting Power of Attorney.  This helps guard against all sorts of things, should a person become too poorly or too bonkers to manage their own affairs.  You never know when it's coming, so best to get it sorted beforehand.

All cheerful stuff.

Edited May 9, 2023 by Jim Neal

[old man]

On 09/05/2023 at 21:30, team tractor said:

It’s a little hard at first to navigate the app I can agree on that . I can shift the money about easy and instant

👍

On 09/05/2023 at 22:34, Minky said:

I completely understand this.  My eldest sister didn't fair well with a bad covid attack.  She has had to go into a care home and is paying £4500 a month for the privilege .  They have taken most of her life savings and are looking at her family home.  SO last year's holiday to Tenerife and this year's to Madeira have mainly been paid for by my tax free part of my pension pot.  Both myself and the Mrs have sufficient other funds. SO  I am going to enjoy the fruits of my labours before some private company dips their hands into my pockets so that they can enjoy my labour.

Just the trend, use someone else's money or effort to increase the profit?

[7daysinaweek]

Some in Gold, some in Bitcoin and Ether, depends on your on your risk appetite. Not financial advice of course. 😁