Janus 28 #1 Posted June 1, 2016 I’ve always been a fan of premium bonds. My dad used to buy them for me as a child. I continued with the enthusiasm as an adult, and now hold quite a few. Martin Lewis feels we are getting a raw deal and although I hang in there I believe he is right. http://www.telegraph.co.uk/investing/bonds/martin-lewis-this-is-why-you-should-dump-premium-bonds/ Share this post Link to post Share on other sites Share this content via...
Gamston 10 #2 Posted June 1, 2016 The guy always seems to know what he is talking about, so it is more than likely to be good advice. Share this post Link to post Share on other sites Share this content via...
El Cid 194 #3 Posted June 1, 2016 The amount they offer in prizes is poor, but its a safe gamble. I like a gamble. I have a mix of premium bonds and shares. Shares have been far more lucrative. Even this week, I have bought shares. Share this post Link to post Share on other sites Share this content via...
Michaeldyn 10 #4 Posted June 1, 2016 The amount they offer in prizes is poor, but its a safe gamble. I like a gamble. I have a mix of premium bonds and shares. Shares have been far more lucrative. Even this week, I have bought shares. what shares did you buy, where did you get idea on what shares to buy. i read ic and they are not that good Share this post Link to post Share on other sites Share this content via...
woodmally 10 #5 Posted June 1, 2016 I’ve always been a fan of premium bonds. My dad used to buy them for me as a child. I continued with the enthusiasm as an adult, and now hold quite a few. Martin Lewis feels we are getting a raw deal and although I hang in there I believe he is right. http://www.telegraph.co.uk/investing/bonds/martin-lewis-this-is-why-you-should-dump-premium-bonds/ Basically you give the money to the government and rather than giving you back interest they take the lot and put you in a lottery. I think he is right. I would rather take my chances of the poor interest rate than this. Share this post Link to post Share on other sites Share this content via...
hyper 10 #6 Posted June 1, 2016 Basically you give the money to the government and rather than giving you back interest they take the lot and put you in a lottery. I think he is right. I would rather take my chances of the poor interest rate than this.they don't take the lot, as you put it. The investment is still yours. They use your money while you aren't using it, not take it. Its a big difference Share this post Link to post Share on other sites Share this content via...
Cyclone 10 #7 Posted June 1, 2016 The expected return though (averaged) is less than you would make in an alternative safe investment. Share this post Link to post Share on other sites Share this content via...
spilldig 176 #8 Posted June 1, 2016 I’ve always been a fan of premium bonds. My dad used to buy them for me as a child. I continued with the enthusiasm as an adult, and now hold quite a few. Martin Lewis feels we are getting a raw deal and although I hang in there I believe he is right. http://www.telegraph.co.uk/investing/bonds/martin-lewis-this-is-why-you-should-dump-premium-bonds/ Nowhere near as much a raw deal as you would get from the national lottery. Share this post Link to post Share on other sites Share this content via...
foxy lady 10 #9 Posted June 1, 2016 The amount they offer in prizes is poor, but its a safe gamble. I like a gamble. I have a mix of premium bonds and shares. Shares have been far more lucrative. Even this week, I have bought shares. I don't have a problem with them either. They pay around 1.35% interest (paid out as prizes). I pay high rate tax and this is tax free. So it's equivalent of a couple of percent. I like getting cheques. I get a £25 one most months, often a couple. The occassional bigger prize gives me a boost. You can get rid of them anytime. So it can be classed as a short term investment that gives me a buzz. I have cash in banks and bonds but the rates are up and down like a brides nightie. You have to keep shifting and re-investing. I have shares, but they get taxed and there is a fee for trading. So if you have cash floating around Premium Bonds are OK even if there are other deals that will earn you a little more. What price a bit of fun? It's gambling where you get your stake back. Share this post Link to post Share on other sites Share this content via...
vwkittie 10 #10 Posted June 1, 2016 I don't have a problem with them either. They pay around 1.35% interest (paid out as prizes). I pay high rate tax and this is tax free. So it's equivalent of a couple of percent. I like getting cheques. I get a £25 one most months, often a couple. The occassional bigger prize gives me a boost. You can get rid of them anytime. So it can be classed as a short term investment that gives me a buzz. I have cash in banks and bonds but the rates are up and down like a brides nightie. You have to keep shifting and re-investing. I have shares, but they get taxed and there is a fee for trading. So if you have cash floating around Premium Bonds are OK even if there are other deals that will earn you a little more. What price a bit of fun? It's gambling where you get your stake back. Can I ask how many you have? Just wondering how many you need to actually have a realistic chance of getting something back. I had some a while ago but got rid as I never got a single penny back. I can get 5% from my bank which for me as someone who only has a little money to save is a way better bet. Share this post Link to post Share on other sites Share this content via...
bazjea 10 #11 Posted June 1, 2016 Can I ask how many you have? Just wondering how many you need to actually have a realistic chance of getting something back. I had some a while ago but got rid as I never got a single penny back. I can get 5% from my bank which for me as someone who only has a little money to save is a way better bet. What bank is paying 5% On "little money"? investment. Please post details Share this post Link to post Share on other sites Share this content via...
Hambeast 10 #12 Posted June 1, 2016 I would be very very surprised if you can get 5% in any saving account at the moment without depositing at least 10k and not being allowed to touch it for a set period. Share this post Link to post Share on other sites Share this content via...