Premium Bonds - Not a bean for months now!!!!
Discussion
gregf40 said:
Please don't invest in premium bonds...you are just lending the government money for a shocking interest rate.
You would be better off statistically buying shares in a FTSE100 tracker and buying lottery tickets with the dividends if you still want the chance to 'win big'.
I'm no financial expert ... I chose to invest a large (wind-fall) amount for a short period (1 year approx) in premium bonds knowing that whilst I may not 'win big' I'll also had never lose any of my investment when I need to withdraw it for what it's been ear-marked for. You would be better off statistically buying shares in a FTSE100 tracker and buying lottery tickets with the dividends if you still want the chance to 'win big'.
If I invested in an FTSE100 tracker would I have been guaranteed never to lose any of my investment?
Nickyboy said:
How quickly can you withdraw funds?
I have lodgers renting rooms and someone suggested investing their deposit instead of just putting it in my cashbuilder account. I'm not interested in making % on it but if i won the odd prize it would be a bonus.
I have lodgers renting rooms and someone suggested investing their deposit instead of just putting it in my cashbuilder account. I'm not interested in making % on it but if i won the odd prize it would be a bonus.
I did this previously. Easy way to keep the money to one side but unlikely to win anything with the amounts you're talking about.
Obviously for tenants you need to put their money in a protected scheme.
GrizzlyBear said:
I was thinking, I would much prefer if the premium bonds had the whole prize fund distributed in £25 prizes (nothing bigger), the chances of winning a million pounds are so slim it's pointless, but you would have a greater chance of winning something.
Thoughts?
For me, I'd prefer the £1m to stay. £25 won't do much for me, but the possibility of landing £1m is attractive, even if the possibility is near on none existent. Thoughts?
DSLiverpool said:
I think max prize of £100k times 10 is better than £1m
That is what I was thinking, I would rather that they got rid of the big head-line grabbing prize as the possibility of winning it is so remote, then replace it with lots of smaller prizes as that would increase my chance of winning something, otherwise you are just lending money to the government for nothing which is just crazy.Gassing Station | Finance | Top of Page | What's New | My Stuff