Premium Bond Winner ?

pbw

got £50 this month, quite unexpected actually as last month i lowered my holding from £23,800 to £5,800. deciding whether to drop my holding further come april so as to put £3,000 into a new ISA...

trademark

nothing for me either this month

new isa for me this month aswell though i think ill keep my holding for now

shaz77_2

Nothing for me either.

Someone with only £620 invested won a cool 50,000, thats what I call a good return.

meanmachine_2

nrsql wrote:

Must be a good month for the site - I picked up 3 x £50.

No, more likely only those who won something can be bothered to post about it.

And for a previous poster to be getting 6% plus, lots of others must be getting sub 3%.

Sadly, that's the way this lottery works - to make one person rich the govt snatches the interest of many many more.

As I say, bonds are only for those paying top whack tax who have maxxed out their ISAs.

FOr anyone else, it's a rubbish way of investing.

Jennifer_Jane

Nothing for me - have only won £150 over the last year or so. Have now cashed them in and will be putting them in savings - per Martin's recommendation. Only had them in originally as I wanted to the money to be available at a moment's (well, 8 days') notice. Very best of luck to you all, though. Would love to hear of an MSEr getting the Million!

Tiger_greeneyes

Woohoo!!!

I've won £200 for my fireplace fund! My best ever month was £250 but I'm not going to moan, especially as I haven't won anything for three months now

Gorgeous_George

meanmachine is so right

Any 40% taxpayer with premium bonds is likely to 'win' a good return. Ths is at the expense of non-taxpayers and basic rate taxpayers. Like Robin Hood, but in reverse. You know, like when Maggie was in power.

Only this time, its voluntary.



GG

jem16

I'm a higher rate taxpayer with around £21k in premium bonds. Only averaged around 3% over the last 4 years - not much better than an ordinary savings account.

I am about to withdraw most of it and invest it properly.

mayb_2

Bit puzzled here, how can a win on the Premium Bonds be at the expense of someone else? If you put £1 on the lottery and you lose - that's it £1 gone. If you put £1 in Premium Bonds and you don't win - you have still got your £1. So fun at no expense to anyone - including youurself.

mroller

mayb wrote:

Bit puzzled here, how can a win on the Premium Bonds be at the expense of someone else? If you put £1 on the lottery and you lose - that's it £1 gone. If you put £1 in Premium Bonds and you don't win - you have still got your £1. So fun at no expense to anyone - including youurself.

because you are gamling with the interest you would have earned on your stake.

Example:
If a non tax payer puts 10k£ in a saving account, he can earn 570£/year which is 47£/month.

If he puts it in PB, then he is forfeiting the 47£/month, puts it in a big raffle, and wins if he is lucky.

If he wins beyond the average of 3.1% then it's done at the expense of the other people who bought PB.

HTH