Join for free
Page 20 of 98 « First < 10 18 19 20 21 22 30 70 > Last »
Realist
Chatterbox
Realist is offline
UK
Joined: Mar 2015
Posts: 9,184
Realist is male  Realist has posted at least 25 times and has been a member for 3 months or more 
 
20-11-2017, 08:30 PM
191

Re: Premium Bonds

Originally Posted by Muddy ->
Yer pays yer money and takes yer choice !
Online gambling in all its ugly forms, is predicated on the basis that there are plenty of uneducated numpties who don't understand odds and therefore have no clue how money losing the games or schemes are. Premium bonds are no exception. Buying them just gives free money to someone else.

If you are resigned to giving your money away frivolously then give it to decent causes imo.
OldGreyFox's Avatar
OldGreyFox
Chatterbox
OldGreyFox is offline
South Yorkshire
Joined: Feb 2015
Posts: 21,202
OldGreyFox is male  OldGreyFox has posted at least 25 times and has been a member for 3 months or more 
 
20-11-2017, 09:16 PM
192

Re: Premium Bonds

Originally Posted by Realist ->
Online gambling in all its ugly forms, is predicated on the basis that there are plenty of uneducated numpties who don't understand odds and therefore have no clue how money losing the games or schemes are. Premium bonds are no exception. Buying them just gives free money to someone else.

If you are resigned to giving your money away frivolously then give it to decent causes imo.
If I give it to a decent cause Realist it will be gone forever and I might need it someday, so it's just a bit of fun for now. At 67 years old and suffering two heart attacks I estimate that the best I can expect is 25 years. I'm not being morbid, but 'Realistic' Realistic...... I've enough money to provide a comfy life for Mrs Fox and me with some left over to have some fun with, but it also acts as a buffer against unforeseen circumstances, which means I can muddle through life and never have to worry about money. I have no desire to make money anymore, my working life is over and with careful management of funds and the governments supplement (pension) I can direct my attentions to more enjoyable pastimes......
See ya' on the beach......
galty's Avatar
galty
Chatterbox
galty is offline
rainham essex
Joined: Aug 2009
Posts: 6,080
galty is male  galty has posted at least 25 times and has been a member for 3 months or more 
 
30-11-2017, 06:27 PM
193

Re: Premium Bonds

Originally Posted by Realist ->
Online gambling in all its ugly forms, is predicated on the basis that there are plenty of uneducated numpties who don't understand odds and therefore have no clue how money losing the games or schemes are. Premium bonds are no exception. Buying them just gives free money to someone else.

If you are resigned to giving your money away frivolously then give it to decent causes imo.
Online gambling has nothing to do with this subject.

With PBs you cannot lose any of your money.
APRICOT's Avatar
APRICOT
Chatterbox
APRICOT is offline
Suffolk UK
Joined: Aug 2014
Posts: 5,837
APRICOT is female  APRICOT has posted at least 25 times and has been a member for 3 months or more 
 
30-11-2017, 06:42 PM
194

Re: Premium Bonds

I cashed all my premium bonds in years ago as I only won about £100 over a 10 year period.
galty's Avatar
galty
Chatterbox
galty is offline
rainham essex
Joined: Aug 2009
Posts: 6,080
galty is male  galty has posted at least 25 times and has been a member for 3 months or more 
 
01-12-2017, 04:48 AM
195

Re: Premium Bonds

They have increased the interest rate to 1.4%

Still not good but better than banks as no tax is payed on PBs
susan m's Avatar
susan m
Senior Member
susan m is offline
DORSET UK
Joined: Apr 2015
Posts: 4,935
susan m is female  susan m has posted at least 25 times and has been a member for 3 months or more 
 
01-12-2017, 08:56 AM
196

Re: Premium Bonds

Just out of interest has anyone ever met a premium bond holder who's won more than £100. They say there are million pound winners but have you heard of any .
OldGreyFox's Avatar
OldGreyFox
Chatterbox
OldGreyFox is offline
South Yorkshire
Joined: Feb 2015
Posts: 21,202
OldGreyFox is male  OldGreyFox has posted at least 25 times and has been a member for 3 months or more 
 
01-12-2017, 09:27 AM
197

Re: Premium Bonds

Originally Posted by susan m ->
Just out of interest has anyone ever met a premium bond holder who's won more than £100. They say there are million pound winners but have you heard of any .
Ask me again in six months Susan.....
CeeCee
Senior Member
CeeCee is offline
UK
Joined: Dec 2009
Posts: 1,619
CeeCee is female  CeeCee has posted at least 25 times and has been a member for 3 months or more 
 
01-12-2017, 10:39 AM
198

Re: Premium Bonds

Originally Posted by susan m ->
Just out of interest has anyone ever met a premium bond holder who's won more than £100. They say there are million pound winners but have you heard of any .
Yes, my daughter won £500 a couple of months ago.
Realist
Chatterbox
Realist is offline
UK
Joined: Mar 2015
Posts: 9,184
Realist is male  Realist has posted at least 25 times and has been a member for 3 months or more 
 
01-12-2017, 03:02 PM
199

Re: Premium Bonds

Originally Posted by galty ->
Online gambling has nothing to do with this subject.

With PBs you cannot lose any of your money.
lols. This is entirely the kind of "numpty" mentality I referred to in my earlier post.

If you have £100 today and you buy an "asset" with that £100 then what happens?

The asset either gains value (appreciates) or loses value (depreciates).

Given there ARE assets that appreciate in the world, anyone who simply sits on £100 of cash, stuffing it in their mattress IS ACTUALLY LOSING MONEY.

They are losing the money they ought to have through basic appreciation (which could be asset appreciation or bank interest and so on).

The notion that you can not lose with Premium Bonds (because you can always pull your money back out) is utterly false and is the primary selling point that they rely on to get mug punters to hand over their dosh, mug punters who don't understand the basics of finance.

The people taking all the money will, I assume, be investing that money in all manner of good sound investment vehicles and thereby making an absolute packet out of your money. That is profit, earnings, interest that YOU should be acquiring not them.

THAT is why you lose money with PBs. It's about the same as stuffing the money in a mattress, you are throwing away all the additional money that the £100 should be earning for you.

I realise that owning the PBs gives you the chance of winning money, but the odds associated with that are utterly ridiculous. Small dribs and drabs is all most people win (if that). The majority go for years without anything, that's years of profit they are throwing away that they should have been earning from investment or asset purchase.

And when I say "throwing it away" what I mean is you are wilfully just handing that money over to the people who run the PBs, free money for them, gravy train !
Realist
Chatterbox
Realist is offline
UK
Joined: Mar 2015
Posts: 9,184
Realist is male  Realist has posted at least 25 times and has been a member for 3 months or more 
 
01-12-2017, 03:15 PM
200

Re: Premium Bonds

For those thinking about PBs or who have them and are wondering if they have been wasting their time, this link will tell you the full scoop

https://www.moneysavingexpert.com/sa...-bonds#arethey

"Line up everyone with £1,000 worth of Premium Bonds in order of their year's winnings, and the person halfway along would have won… not a penny! In fact, you'd need to walk past two-thirds of the line until you hit the first £25 winner"

The actual odds of winning any of the prizes is utterly staggeringly appalling as follows:

(Odds of winning at least this amount per £1 bond)

£1 million - 1 in 34,324,121,998

£100,000 - 1 in 13,729,608,271

£50,000 - 1 in 7,627,555,613

£25,000 - 1 in 3,432,398,062

£10,000 - 1 in 1,492,346,427

£5,000 - 1 in 707,710,578

£1,000 - 1 in 48,617,512

£500 - 1 in 12,814,623

£100 - 1 in 2,568,102

£50 - 1 in 1,427,044

£25 - 1 in 30,000

£0 - 68,645,647,294 Virtual certainty


So that top jackpot, your odds are 1 in 34 billion !!!!

When the National Lottery first started (49 balls) the odds of winning the jackpot were approx. 1 in 14 MILLION

Here, with PBs you get to win just £500 for about the same odds.

The odds of you just winning £50 is almost 1 in 1.5 million !

It's a losing proposition imo, what they call "a sucker bet"

But suckers are a plenty !

For those with PBs or those thinking of handing their hard-earned over, I'd encourage you to put your numbers into this Premium Bond Calculator and check the results

https://www.moneysavingexpert.com/sa...ds-calculator/
 
Page 20 of 98 « First < 10 18 19 20 21 22 30 70 > Last »

Thread Tools


© Copyright 2009, Over50sForum   Contact Us | Over 50s Forum! | Archive | Privacy Statement | Terms of Use | Top

Powered by vBulletin Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.