Ive got £170k and would like to know where to invest it

sebtomato

eskbanker said:

Taking your position to its logical conclusion, NS&I should stop PBs entirely and simply offer their Direct Saver or Income Bonds accounts, if it's so important to you that returns from their products are fixed or capped at what you consider to be an appropriate level!  Or do you feel that the current gap between Income Bonds and the next best easy access savings account is also an outrageous 'waste of taxpayer money'?

Yes indeed, PB are a waste of public money/tax payer money anyway, since the state can currently get money cheaper in other ways. Also, given the low interest rates on regular savings account, even a 1.2% tax free would attract a significant amount of savings, even without the high prizes lottery part of it. 

thegentleway

sebtomato said:

Yes indeed, PB are a waste of public money/tax payer money anyway, since the state can currently get money cheaper in other ways. Also, given the low interest rates on regular savings account, even a 1.2% tax free would attract a significant amount of savings, even without the high prizes lottery part of it. 

So you're OK with 1.2% income bonds but not 1.4% PB!? What about 1.2% PB, would that be acceptable? It would cost the same right? However it would generate A LOT less. The psychological trick of calling interest winnings works wonders: PB are the UK's biggest savings product, with around 22 million people saving around £91 BILLION.