03-12-2017, 01:01 AM
212
Re: Premium Bonds
Originally Posted by realspeed
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just checked for December and won 2 x £25 prizes.
03-12-2017, 07:19 PM
215
Re: Premium Bonds
Originally Posted by OldGreyFox
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That's brilliant Muddy and Realspeed, that would be more than the interest you would have received in a savings account....
Ask them, how much money have they had deposited in PBs and over what period and what their total winnings have been.
The result will put the profits into a fraction of 1%
03-12-2017, 07:36 PM
216
Re: Premium Bonds
Originally Posted by Realist
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Errrr I seriously doubt that.Ask them, how much money have they had deposited in PBs and over what period and what their total winnings have been.
The result will put the profits into a fraction of 1%
Shock horror.
So wear do you suggest I put that money?
04-12-2017, 11:15 AM
217
Re: Premium Bonds
Originally Posted by galty
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Ok you suggest that my money in PB is gambling
Originally Posted by galty
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So wear do you suggest I put that money?
If the latter, you can expect to get nothing but a tiny pittance of "free money".
Still many choose that option.
First I will make what should be an obvious point. Your No 1 priority is ALWAYS to pay your debts off first. Anyone who is sat there with a mortgage but who has £000s sitting in PBs is frankly a complete and utter retard. The amount of interest you could save by putting any and all amounts of spare cash into mortgage payments is staggering. It's how I paid off my mortgage very early, in my 40s.
Same goes for any other debts, esp credit cards.
Always pay those debts off as quickly as possible.
Now, assuming you are debt free your choices can include the following:
If you are prepared to put your money into a savings account and leave it there for 5 years then you can earn over 2% interest.
Examples:
Secure Trust Bank - 5 Year Fixed Rate - 2.51% AER
https://www.securetrustbank.com/5-ye...nd-22-dec-2022
Paragon Bank - 5 year Fixed Rate - 2.5% AER
https://www.paragonbank.co.uk/
Atom Bank - 5 Year Fixed Rate - 2.45%
https://www.atombank.co.uk/fixed-saver
You can earn 2% interest per year in 2 Year Fixed Rate accounts.
All of these will far outperform your PBs imo.
However if you are prepared to get financially savvy and stop being ripped off by the financial sector and effectively "do what they do", i.e. invest your money and track those investments then you can learn about stocks and shares and related matters.
You can open a share trading account with any number of companies in seconds. Then you can buy and sell shares at your whim. You can buy shares in companies that you think will do well or which you think are in an industry sector that is heading for upside. For example, at the moment the price of oil is rising again after a long period of being in the doldrums, so oil producing companies will have increased profits and will do well.
You can invest in low risk steady companies or high risk tiddlers like you find on the AIM market (the Wild West of the investment world!).
The AIM market is riddled with unscrupulous traders and there are forums out there presented as chat spaces where people discuss individual shares, but which are used as platforms for gangs and groups of large investors to heavily promote (ramp) shares they are invested in. You have to learn how they post, the language they use, their typical methods, in order to be able to become immune to the ramping nonsense. They say things like "this share will be 5p by Friday" and so on. They create a false picture of loads of people being positive about a share, (usually its the same people with multiple forum accounts) and this does sucker lots of naïve people to invest.
Once you learn how this works, how traders talk and behave and how some company CEO's behave, then you can spot opportunities to invest.
Earlier this year I bought £3000 of shares in an energy company at about 1p per share. There was a massive rise and the share price went up to 7p. That's a 6-fold increase in my investment. My £3000 of shares were suddenly worth £21,000.
You won't get that kind of return from sitting on your arse and giving your money away to Lottery and Premium Bond operators !!
I was lucky. Some other shares I bought performed dismally. There are no guarantees. Crucially though, YOU are in control of your money, no-one else.
You can do all of this with a pension too. I moved a company pension into a private SIPP so I could trade my pension pot in the stocks and shares I choose.
Everything in this world has to be worked for and earned.
Your finances are no exception. We are conditioned/brainwashed from young life and deliberately not taught how finance works. Hence most of us are hand-held and walked into debts for cars, mortgages for houses, credit cards and bank loans which we then spend years paying back.
There's a reason they don't teach you how the financial world works. It's to keep you dependent, keep you paying more than you should and to keep you a slave.
Freedom comes from getting savvy.
04-12-2017, 12:17 PM
218
Re: Premium Bonds
The thing is Realist five years is too long .Heck we might have shuffled off this mortal coil in five years might as well have the thrill of possibly winning the million !
Well done though on your canny investment .
Yes sometimes shares do well and others go the other way.
It's a risk .
I totally agree that we are not educated in finance .
It should be IMO taught at school .
04-12-2017, 03:01 PM
219
Re: Premium Bonds
Originally Posted by Muddy
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might as well have the thrill of possibly winning the million !.
The odds are 1 in 34,324,121,998
34 BILLION !
If people were allocated one grain of sand on a beach and each month an adjudicator came and randomly selected one grain from the beach and gave the owner £1m, that's how remote the chances are.
If the adjudicator insisted that people were present at the beach for each draw, he would soon find that no-one bothered to turn up because the odds are so staggeringly ridiculous.
Even if naïve people can't get their heads around the odds there is the moral issue. In order for anyone to win £1m, thousands and thousand of other people have to lose their money (the money they should have made by investing their hard-earned properly).
It's the same with the National Lottery. You can only win of millions of other people all lose their money.
04-12-2017, 06:13 PM
220
Re: Premium Bonds
Originally Posted by Realist
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It's a fool's hope.The odds are 1 in 34,324,121,998
34 BILLION !
If people were allocated one grain of sand on a beach and each month an adjudicator came and randomly selected one grain from the beach and gave the owner £1m, that's how remote the chances are.
If the adjudicator insisted that people were present at the beach for each draw, he would soon find that no-one bothered to turn up because the odds are so staggeringly ridiculous.
Even if naïve people can't get their heads around the odds there is the moral issue. In order for anyone to win £1m, thousands and thousand of other people have to lose their money (the money they should have made by investing their hard-earned properly).
It's the same with the National Lottery. You can only win of millions of other people all lose their money.
PS sunshine the bit you don't get is with PB YOU DONT LOSE YOUR money you can take OUT the same amount you invested in at any time.
You are a moron
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