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Previously on "Premium Bonds, Alan Sugar and government debt"
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Absolutely Wendigo. The rate was long ago adjusted for the zero tax so in effect there was very little tax benefit. Another disguised Gordon Brown stealth tax to pay for TB ego wars, third world parasites etc.
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"However, unlike the lotto you do get to keep your stake if you don't win, which is quite a crucial difference."
Hmm...not really...
If you had invested that 500 quid in a savings account returning just a few percent each year then you could have used the interest to possibly pay for a gamble on the lottery each month, and would still have the original 500 untouched...devalued due to inflation of course.
Putting up to £30k as they suggest in something which guarantees no return, or sticking it in an online saving account and having up to a grand a year to spend on the lotto doesn't seem to suggest it has any advantage...
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Originally posted by Joe Blackhttp://www.nsandi.com/products/pb/howitworks.jsp
Hmm...maybe the 'prize fund' rate averages 3%, but that doesn't mean everyone gets that. Sounds more like the lotto to me.
I think a few quid each week picking some numbers and have the chance of 'winning a prize', while investing all the rest in something else seems a much better option...
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http://www.nsandi.com/products/pb/howitworks.jsp
Hmm...maybe the 'prize fund' rate averages 3%, but that doesn't mean everyone gets that. Sounds more like the lotto to me.
I think a few quid each week picking some numbers and have the chance of 'winning a prize', while investing all the rest in something else seems a much better option...
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According to the Motley Fool, the prize fund rate is 3%, which is the equivalent of a 5% return for a higher rate taxpayer and 3.75% for a basic rate taxpayer.
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And presumably the winnings don't count as income for tax return purposes?
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Originally posted by NoddYWins from Premium Bonds are untaxed. They are often favoured by the rich as a safe place to bury the money up to the maximum permitted. Returns (wins) are often at or above todays rate of interest over a long term - with the opportunity of winning 'the big one'. However they are only good in times of low inflation.
I've often seen favourable comments about them on investment boards
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Originally posted by Hiram King Of TyreIsn't that 6% net?
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6%??
nobody I know gets 6% over a reasonable period of time. Some have made good money initially but as things level out 2.5-3% seems to be more normal.
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Originally posted by ClownioDOH ! - Anyone want some premium bonds , they're going cheap.
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Originally posted by wendigo100Anyone seen that advert for premium bonds, where Alan Sugar says he is giving his fee for the advert to charity because he believes in the product?
It is boll*x.
Alan Sugar is a Labour luvvy. Labour need to borrow more money as always, and borrowing it from us via premium bonds is cheaper than borrowing from anywhere else, because premium bonds have a crap rate of return. Hence the campaign.
He must think we are stupid.
DOH ! - Anyone want some premium bonds , they're going cheap.
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He doesn't think we are stupid. He knows we are stupid and he has proof. Three terms of New Lie prove it beyond all doubt.
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Premium Bonds, Alan Sugar and government debt
Anyone seen that advert for premium bonds, where Alan Sugar says he is giving his fee for the advert to charity because he believes in the product?
It is boll*x.
Alan Sugar is a Labour luvvy. Labour need to borrow more money as always, and borrowing it from us via premium bonds is cheaper than borrowing from anywhere else, because premium bonds have a crap rate of return. Hence the campaign.
He must think we are stupid.Tags: None
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