How's your luck with Premium Bonds?

[JohnD]

£300 for me, £50 for SWMBO, £175 for son, £100 for daughter. In the last 6 months I've had £1400, so about 5.5%.

Looks like you enjoy the random aspect of the raffle. You will get good months and bad months.

The prize fund is 4.65% from the September 2023 prize draw

It is moved around to bear some resemblance to interest rates on savings accounts. The fact that prizes are tax free makes them relatively more valuable to higher-rate taxpayers than to standard-rate or non-taxpayers.

BTW, current inflation rate is 6.7%, so of course you are losing wealth.

As even NS&I says, premium bonds are not for you, if you are concerned about inflation.

 

[Mottie]

BTW, current inflation rate is 6.7%, so of course you are losing wealth.

Is that per year? If so, 5.5% in half a year ain’t too bad, I’d say.

 

[JohnD]

If you'd put £50,000 into Premium Bonds in 2020, they would need to have grown to £60,396.65 today to match inflation.

 

[Mottie]

If you'd put £50,000 into Premium Bonds in 2020, they would need to have grown to £60,396.65 today to match inflation.

You've held some since then, haven’t you and only recently cashed in your last ones? Why was that?

John. We get it. You're now out of PB's. You're going to prove you’re savvy by rubbishing them. We know the risks with inflation. We accept them. It’s a bit of fun money for most.

What could we have invested in in 2020 that was backed by the Government, that we could access immediately and would absolutely guarantee no loss of capital with a chance of having a win now and again?

 

[ReganAndCarter]

£125 again.

Since they reduced the number of £25 wins and increased the larger ones, not getting so much. Big wins are nice, but it was lots of small £25s that gave a reasonably reliable, regular income every month.

 

[JohnD]

no loss of capital

Not Premium Bonds, obv.

 

[Mottie]

If you'd put £50,000 into Premium Bonds in 2020, they would need to have grown to £60,396.65 today to match inflation.

What could we have invested in in 2020 that was backed by the Government, that we could access immediately and would absolutely guarantee no loss of capital with a chance of having a win now and again?

So nothing then. Ok.

 

[Ihavenojob]

A question for those with PB's. I won in this month's draw, money paid in as usual, but last night I got an email from NS&I saying I'd won, and to log in to check. A bit late, do you think it could be a scam as it has a link to click on?

 

[crystal ball]

A question for those with PB's. I won in this month's draw, money paid in as usual, but last night I got an email from NS&I saying I'd won, and to log in to check. A bit late, do you think it could be a scam as it has a link to click on?

Never had that before

 

[ReganAndCarter]

A question for those with PB's. I won in this month's draw, money paid in as usual, but last night I got an email from NS&I saying I'd won, and to log in to check. A bit late, do you think it could be a scam as it has a link to click on?

Sounds a bit iffy, especially 3 weeks after draw. Checking the email address of sender usually makes phishing emails obvious. I wouldn't be clicking on any links unless I'm certain an email is bona fide.

 

[Brigadier]

A question for those with PB's. I won in this month's draw, money paid in as usual, but last night I got an email from NS&I saying I'd won, and to log in to check. A bit late, do you think it could be a scam as it has a link to click on?

I got that too.

I too thought it strange.

 

[Trazor]

My wife had that this morning, looks Kosher though.

We sometimes have winning letters 2 weeks later, and we are paperless???

 

[Mottie]

Not long now.

 

[Ihavenojob]

Are you staying up for it?

 

[Mottie]

Are you staying up for it?

lol. No. Just as well.