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

NPowerUser

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

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

le_loup

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

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

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!

somethingcorporate

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!

Eco_Miser

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.

SailorSam

But someone has to win, and it just maybe the Op.

Jonbvn

SailorSam wrote: »

But someone has to win, and it just maybe the Op.

This is money saving expert, not gamblers anonymous.:money:

NPowerUser

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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Archi_Bald

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.