Premium Bonds £50 to £40,000 in 15 years or less

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NPowerUser
NPowerUser Posts: 409 Forumite
Mortgage-free Glee!
edited 30 November 2014 at 3:49AM in Savings & investments
Despite wanting to experiment with smaller bond holdings and report the findings as part of a smaller savings plan and by accumulating the maximum over a longer period of time, some of the comments have prompted me to keep things to myself.

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  • jimjames
    jimjames Posts: 17,649 Forumite
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    It's not really an investment if it's in cash.

    Personally I think it's crazy to keep that amount of cash savings in cash over 15 years but that depends how much you have in other cash, shares or pensions
    Remember the saying: if it looks too good to be true it almost certainly is.
  • le_loup
    le_loup Posts: 4,047 Forumite
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    NPowerUser wrote: »
    I will update this thread once a month, to reflect the 4 or 5 weekly £50 bonds purchased over the previous month, along with any prizes won.
    Must you?
    Who cares?
  • ColdIron
    ColdIron Posts: 9,136 Forumite
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    NPowerUser wrote: »
    I will update this thread once a month, to reflect the 4 or 5 weekly £50 bonds purchased over the previous month, along with any prizes won.
    In the nicest possible way, I would question the purpose of updating this thread every month for the next 15 years

    I would also echo jj's comment regarding cash over 15 years especially given that PB returns are poor in comparison to other cash options, unless you get lucky, which you probably won't :)
  • lazer
    lazer Posts: 3,402 Forumite
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    I use them as alternative to the lottery!


    The lottery would cost £200 a year, so I stick £200 a year in the PB's - at least I don't lose the original money!
    Weight loss challenge, lose 15lb in 6 weeks before Christmas.
  • somethingcorporate
    somethingcorporate Posts: 9,449 Forumite
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    Put them in a bank account earning 3% and use the interest to buy lottery tickets. Keep the original cash and get a flutter on the chance to win it big.

    I honestly cannot see the point in your plan OP, sorry!
    Thinking critically since 1996....
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    You could get 6% on each year's new saving with a regular saver, then decide each year what to do with the accumulated savings.
    Eco Miser
    Saving money for well over half a century
  • SailorSam
    SailorSam Posts: 22,754 Forumite
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    But someone has to win, and it just maybe the Op.
    Liverpool is one of the wonders of Britain,
    What it may grow to in time, I know not what.

    Daniel Defoe: 1725.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
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    SailorSam wrote: »
    But someone has to win, and it just maybe the Op.

    This is money saving expert, not gamblers anonymous.:money:
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • NPowerUser
    NPowerUser Posts: 409 Forumite
    Mortgage-free Glee!
    edited 30 November 2014 at 3:50AM
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    Despite wanting to experiment with smaller bond holdings and report the findings as part of a smaller savings plan and by accumulating the maximum over a longer period of time, some of the comments have prompted me to keep things to myself.

    Post deleted
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    NPowerUser wrote: »
    Mr Lewis would not be potentially sitting on £87M, if all we did on this website was save money, his weekly emails are designed to get us to spend!

    I obviously can't speak for him but I would hazard a guess that he never bothered with Premium Bonds, and he certainly didn't make his fortune from them.
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