Cashed out

slinger2

Martico said:

For context, the prize fund rate was hovering around 1% in 2021, compared to 4.4% now

and the chances of winning were 34,500 to 1 compared to the current 21,000 to 1. Makes a big difference to the odds of these unlucky runs.

Bigwheels1111

Risk or reward ?.
I used to love playing fruit machines, so I was a gambler.
Beat that by buying over 20 of them in the last 25 years.

I sold my house, had a good size pot to play with.
I needed an income for 5-7 year, so premium bonds were out.
I liked the idea, but not the uncertainty.
So fixed rate bonds it was.

I have held £250 of premium bonds for 50 years given to me as a child.
Received them 2 years ago when my mum passed. Left in a drawer and forgotten about.
Went online to check if I had one anything, simple answer was No.
Still have them as you never know 😜

Gers

I was given two £1.00 bonds on my 21st birthday - zilch. Now am a pensioner and have a more substantial holding and receiving 'winnings' at least 10 months out of 12.  Tax free.

drphila

eskbanker said:

Londonlisa12 said:

On a 50k holding around 2021 I had one £50 in 8 draws, I then cashed them in.I am just unlucky, it’s now getting me £250 per month guaranteed.

Where are you getting 6% after tax on £50K?

 

Good question.

I'll let the poster answer for themselves but perfectly possible if they are a low earner considering there were several 6%+ accounts available last year (vanquis, beehive, investec etc)

Middle_of_the_Road

drphila said:

eskbanker said:

Londonlisa12 said:

On a 50k holding around 2021 I had one £50 in 8 draws, I then cashed them in.I am just unlucky, it’s now getting me £250 per month guaranteed.

Where are you getting 6% after tax on £50K?

 

Good question.

I'll let the poster answer for themselves but perfectly possible if they are a low earner considering there were several 6%+ accounts available last year (vanquis, beehive, investec etc)

National savings growth/income bonds maybe?

boingy

eskbanker said:

Londonlisa12 said:

On a 50k holding around 2021 I had one £50 in 8 draws, I then cashed them in.I am just unlucky, it’s now getting me £250 per month guaranteed.

Where are you getting 6% after tax on £50K?

I'm currently earning 6.2% on 60K thanks to the NS&I fixed bonds last year - mine mature in September and, no, I won't be paying any tax on that. Paying no tax is an objective of mine for the next couple of years. I'm on track and it's a good feeling.

But I'm not sure where I'd achieve 6% on that amount if I opened an account today.