Premium bonds - weird coincidence

[vickster]

I was quoting him, not recommending him as I said, his explanation was way beyond my “O” level maths.

I rarely if ever learn anything new from his program, but, IMHO, those who should watch, don’t (eg my youngest daughter), and those who do watch, don’t need to!

Now... I must get on with planning how to spend that £1million, just in case

Sod a million...I’ve a got a ticket for tonight’s Euromillions... £175m.... fingers crossed eh

 

[PK99]

Martin Lewis mentions Premium Bonds, fairly regularly on his TV program. He does not recommend, nor does he not recommend. In a recent program, he attempted to explain some mathematics to do with averages, means etc, which I did not understand, to arrive at the figure of £10,000 invested as being the "sweet. spot" at which you begin to approach the 1.4% (or soon to be 1%) return, as you holding increases towards the maximum (£50,000) so to does the chance of a return approaching the published rate. Since April, this year, mine have returned £525, which, I win nothing in Jan, Feb, Mar (2021), will be a return of 1.05%, according to my maths.

Do you reinvest in bonds or spend the money?

There is an often-told story that when Albert Einstein was once asked what mankind's greatest invention was, he replied: "Compound interest." There's even one claim that Einstein called compound interest the "8th Wonder of the World."

 

[BoldonLad]

Sod a million...I’ve a got a ticket for tonight’s Euromillions... £175m.... fingers crossed eh

Good luck PS can I be on your “friends to share it with”?

 

[vickster]

Good luck PS can I be on your “friends to share it with”?

Sure I can bung you a couple of pound coins if you’re nice to me

 

[BoldonLad]

Do you reinvest in bonds or spend the money?

There is an often-told story that when Albert Einstein was once asked what mankind's greatest invention was, he replied: "Compound interest." There's even one claim that Einstein called compound interest the "8th Wonder of the World."

If by “bonds” you mean Premium Bonds, as I said, I have the maximum holding. So, depending on my mood, I spend, save, or give to grandchildren

 

[biggs682]

Sod a million...I’ve a got a ticket for tonight’s Euromillions... £175m.... fingers crossed eh

Don't forget your cc friends

 

[Saluki]

I have won zilch since last November but live in hope.
I like my money in the PBS as I can access it but it takes a day or two so stops any bonkers impulse buys. Which reminds me. I have a spare £100 saved so will pop it across.

 

[vickster]

Don't forget your cc friends

Who might they be?

 

[ColinJ]

Do you reinvest in bonds or spend the money?

I have my account set to reinvest any wins. Hitting the limit would be a nice problem to have, but I am currently less than 2% of the way there...

 

[Deleted member 26715]

I have never won anything on them

 

[potsy]

I have my account set to reinvest any wins. Hitting the limit would be a nice problem to have, but I am currently less than 2% of the way there...

I too have set mine to reinvest, and like you, have a long way to go to get to the 50k limit.

Current plan is to put any spare money into them, keeping a small amount back for unexpected emergencies.

My retirement fund for when I get fed up of this working lark

 

[ColinJ]

I have never won anything on them

Have you got any?!

I have won 9 x £25 since the start of 2016.

 

[Deleted member 26715]

Have you got any?!

You know me too well, but on this occasion yes £5K for 6 months, hence why I'm a little disappointed

 

[Deleted member 26715]

My retirement fund for when I get fed up of this working lark

I got to this point many years ago

 

[ColinJ]

You know me too well, but on this occasion yes £5K for 6 months, hence why I'm a little disappointed

I have done a rough calculation... I have averaged about 1 win per 20k bond-months. Fingers crossed that you start to catch up soon!