Reply to: Lucky win

[AtW]

£75 this month

[Jog On]

filthy speculants!

[Moose423956]

£50 for me, £50 for the Mrs, and £125 for my eldest!

[unemployed]

not even 4 weeks and another £25 cheque

the big one is coming

[unemployed]

You won't have a job after Brexit! A loaf of bread with jacket potato from EU would cost £10 mln.

HTH

I don't have one before Brexit

So that's handy

[AtW]

If I win the big one I am giving up work

You won't have a job after Brexit! A loaf of bread with jacket potato from EU would cost £10 mln.

HTH

[unemployed]

If I win the big one I am giving up work

[Platypus]

I think the 1 mill prize was won last month by someone

sadly, not me

[jamesbrown]

I refer my Hounorable Friend to the first post -

Indeed. I think the 1 mill prize was won last month by someone with the minimum investment. Luck is always better than maths.

[AtW]

Very little point unless you can put a large chunk in though (you can find the mathematics of this online w/r to expected returns).

I refer my Hounorable Friend to the first post -

Premium bonds -

Prize value Winning Bond Holding Area Bond Value Purchased
£100,000 14KT085181 £20 Lancashire £10 Mar-81

Simon got it?

[jamesbrown]

For me it works out around 2% per annum BEFORE tax, which is not bad at all, but feckers from this month reducing "prizes", supposedly no need for as much borrowing

Still, one could win £2 mln every month, tax free and without risk to capital... which would be nice!

I think the expected return is something like 1.3% when the maximum is invested (but this includes the high-valued prizes, so it's not the best measure). It's completely tax free though. As I say, better than most savings accounts as a higher rate tax payer (for those, it's perhaps 0.75%-1% after higher rate tax), but it's pretty marginal, even more so from June, as you say. Very little point unless you can put a large chunk in though (you can find the mathematics of this online w/r to expected returns).

[AtW]

Me too But with the max invested They're pretty worthless. However, when accounting for higher rate tax, unless you benefit from the new savings allowance, savings accounts are even more worthless.

For me it works out around 2% per annum BEFORE tax, which is not bad at all, but feckers from this month reducing "prizes", supposedly no need for as much borrowing

Still, one could win £2 mln every month, tax free and without risk to capital... which would be nice!

[jamesbrown]

I got £50

Me too But with the max invested They're pretty worthless. However, when accounting for higher rate tax, unless you benefit from the new savings allowance, savings accounts are even more worthless.

[Hobosapien]

There is a limit on how much you can invest...

True, but they keep increasing the limit while at the same time reducing the prizes.

It's a trap.

[AtW]

That's cute. I got my 'winnings' paid direct into PB account for reinvestment. That's how compound interest is supposed to work isn't it?

There is a limit on how much you can invest...