NS&I Investment Bond

joe134

veryintrigued wrote: »

I just spat my soup out reading that.

Keep taking the tablets....

Minestrone was it?:rotfl:
Take a Renzi, good for indigestion.
2017 is going to play havoc with your diet.

joe134

G6JPG wrote: »

Exactly.Yes, someone with £50k is indeed fortunate.Consider someone in their mid- to early fifties, who through thrift etc. has managed to save £50k - or, maybe, £49k. S/he's not at all confident their job is secure (or indeed have just lost it). They know that it is quite likely that they're unlikely, at their age, to get another job at much above the minimum wage for the rest of their life: many employers are still reluctant to take on an older person (legislation notwithstanding), and even if they were, the skills of our candidate are likely to be out of date, and it may be possible that they're less able to retrain than a younger person is - although there are plenty of exceptions, we do get less flexible as we age, on the whole. So this person is looking at ten or more years until they reach the receding pension age, during which their income may not be much above the minimum. (Worse if they have a dependent spouse.) [And we hope they've got a reasonable pension set up - by no means definite these days.]

Granted, there's no argument: someone in such a situation with their 49 or 50 £k is in a far better position than many others - but, they probably are not willing to risk it on anything high-risk: it's their difference between minimum-wage misery and not-quite-so-misery. (Not a very big difference either - less than £5k a year, assuming they do have a oension after the 10+ years.)I don't disagree with you there. It was only the "I don't care" that rankled a bit: it implied that someone with £50k is rich, and although they obviously are richer than many, I hope I've shown that they'renot really rich.

As an Elderly person, 70+, I keep" several" hundreds of thousands in cash accounts
All my savings are now in cash
.Mostly Fixed rates and Isas, but at least £100k+ in instant A/c,s
Cash is King at my age.
I've done with the markets, etc, or anything risky.Done that.
Each to their own.
And I don't class myself as wealthy, just astute.
Just because rates are low, doesn't mean, you throw caution to the wind.
A bird in the hand;
There are a few on here that think they are the Font of all knowledge.
A little knowledge is a dangerous thing.:-)

bowlhead99

joe134 wrote: »

As an Elderly person, 70+, I keep" several" hundreds of thousands in cash accounts
All my savings are now in cash
.Mostly Fixed rates and Isas, but at least £100k+ in instant A/c,s
Cash is King at my age.

Are there certain things "at your age" that require ready access to hundreds of thousands of pounds of cash? Presumably you are not looking to be able to quickly snap up a £200k Ferrari when one comes up at auction?

And I don't class myself as wealthy, just astute.

But factually, you are wealthy. I mean in terms of the financial wealth that you have accumulated - which is what makes one wealthy compared to others that do not have it and may not be able to get it in their lifetimes

Just because rates are low, doesn't mean, you throw caution to the wind.

On that we are very much agreed.

A little knowledge is a dangerous thing.:-)

True.

But also, a lot of knowledge is a very good thing. So, no reason to be reluctant to seek out knowledge if you don't have it, or only have a little, or only have a lot...

Not that I'm suggesting you don't have it.

joe134

bowlhead99 wrote: »

Are there certain things "at your age" that require ready access to hundreds of thousands of pounds of cash? Presumably you are not looking to be able to quickly snap up a £200k Ferrari when one comes up at auction?

But factually, you are wealthy. I mean in terms of the financial wealth that you have accumulated - which is what makes one wealthy compared to others that do not have it and may not be able to get it in their lifetimes On that we are very much agreed. True.

But also, a lot of knowledge is a very good thing. So, no reason to be reluctant to seek out knowledge if you don't have it, or only have a little, or only have a lot...

Not that I'm suggesting you don't have it.

There,s nothing I require that I keep a lot more than £200k in cash for.
my health is my wealth!
gave my car away to my Son.
however, having just helped all my children out,and grandchildren, on to the housing ladder, it,s there if they need it.
you know what they say about, the love of money!
I thirst knowledge, am always learning, every day.
if you equate wealth in terms of money only, then, that,s fine.
I don,t.
In today's society, I am just a comfortable, hard working guy.
, who saved, and Didn,t,/ don,t live beyond my means.

There,s no pockets in a shroud.
all my cash is, at present, beating inflation.that,s ok with me.
I have been through market crashes, and lost, but, also, made good investments, still do a bit of day trading, ,stop/loss, for fun,but, now, I think, it,s better to help the family, instead of trying to make more.
as I say, each to their own.:beer:

schiff

A modern day patriarch then!

joe134

schiff wrote: »

A modern day patriarch then!

not really, most of the money , I have put in the wife's name.:)
Hardly Patriarchal, do as I say, not as I do!:)
no Robin Hood either.:rotfl:

schiff

You've looked after the children.

joe134

schiff wrote: »

You've looked after the children.

And grandchildren, x3,and great grandchild, ,another great grandchild due within Xmas period.
only want the three wise men now.:rotfl:
now you know why I require so much brass cash.
soon goes.:)
Suppose I am a Patriarch!
I,ve got my wife's permission to say so!

schiff

Old fashioned patriarchs never needed the wife's permission for anything really, but then, as I said, you are the modern day version.

SDP79

This my first post so I ask for some patience if this has been asked and answered before.
The NS&I bond to be launched in April is described as a max investment of £3000 at 2.2% annual interest for 3 years. I have only found an assumed answer in the description. If I invest the full £3000 at the start, can someone please clarify if the interest can be withdrawn each year for no penalty or is interest paid on the new balance of approx £3066 and so on for the remainder of the term. Many thanks.