With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Even as a 45% tax payer?
I still have the majority of my money in regular savings, but I will have a tax bill for it at the end of the financial year. I just thought it would be a good idea to put some of it into a place where there’s the very remote chance I could get a decent sized win one day. And of course, the tax free returns are nice.
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Even as a 45% tax payer?
I still have the majority of my money in savings, but I will have a tax bill for it at the end of the financial year.
Annualised that would be £1800 or 3.6% net if £50k. If you are a higher rate tax payer it's minimum 6% gross, not aware of any instant access paying that yet.
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Even as a 45% tax payer?
I still have the majority of my money in savings, but I will have a tax bill for it at the end of the financial year.
Annualised that would be £1800 or 3.6% net if £50k. If you are a higher rate tax payer it's minimum 6% gross, not aware of any instant access paying that yet.
Exactly that.
If I remember correctly you need to multiply a tax free rate by 1.66 for 40% tax payers and 1.82 for a 45% tax payer to get a savings rate comparable (saw it on Martin Lewis) which makes premium bonds a very attractive easy access account, and it's a lot more fun!
Maxing out ISA allowance then buying premium bonds makes the most sense to me if a 40-45% tax payer (as long as you don't have other forms of debt that are more expensive).
With thanks to this thread, I finally got around to putting a chunk of money into Premium Bonds. First time I've ever really done anything remotely 'different' with my savings beyond just letting them sit there in a bank account.
£150 for my first prize.
Nice first hit, but still behind savings if you’ve £50,000 in.
Probably comparable over 12 months.
£1800 tax free. If you are a higher tax payer you would get £500 tax free interest and anything on top would be taxed at 40%. 5% instant access (which PB's are in reality) would give you £2.5k. Take off the £500 tax free savings allowance, leaving £2000 to be taxed at 40%. £800 in tax leaves £1200. Add in the £500 tax free allowance gives you £1700.
With Market at 7252 this morning how are peoples investments holding up with the FTSE heading South every day. My share / fund holdings are down by 5.6% from recent high. Although this is savings not pension, as I declined transferring my DB Lloyds pension.
With Market at 7252 this morning how are peoples investments holding up with the FTSE heading South every day. My share / fund holdings are down by 5.6% from recent high. Although this is savings not pension, as I declined transferring my DB Lloyds pension.
I try not to check mine too often - it can mess with your head when its having a downturn. There will be ups and downs but in the medium to longer term history says it'll pay off. Dont let bad days get to you.
With Market at 7252 this morning how are peoples investments holding up with the FTSE heading South every day. My share / fund holdings are down by 5.6% from recent high. Although this is savings not pension, as I declined transferring my DB Lloyds pension.
My pension is down 1.7% since the turn of the month. Still up over 7% in the last 12 months.
Looks like I need to have a chat with my pension advisor. Absolutely flat over the last 6 months 🤔
Happy to have a go at predicting the FTSE 🔮
Really all depends on the make up of your portfolio. The more fixed interest (Bonds) you have the worse it would have done. If you have a traditional 60/40 split then it probably wouldn't have done very much.
I have some money invested in a couple of Baillie Gifford funds: UK and European Growth Funds.
After a decent start the plummeting when tech stocks took a dive and although they are slowly , very slowly improving, they still seem very volatile and I think it's probably time to get rid and find something else. Actually it was probably time to get rid ages ago!
I know there were several members on here who had invested in these so wondering what you have done and if anyone else is still holding, hoping they'll take a turn for the better.
Looks like I need to have a chat with my pension advisor. Absolutely flat over the last 6 months 🤔
Happy to have a go at predicting the FTSE 🔮
Really all depends on the make up of your portfolio. The more fixed interest (Bonds) you have the worse it would have done. If you have a traditional 60/40 split then it probably wouldn't have done very much.
I can't actually tell you how mine has done in the last six months because, Hargreaves Lansdowne, but looking at the total figure I think I'm in line with Tel. Certainly still off best ever by around 9%. You know the culprit, Golfie. Too much in the supposed ballast of Vanguard LS20. I've gradually divested myself of that pile of pooh, partly to your Waverton Global Strategic Bond (about 4% better than the Vanguard fund so far this year) and partly to a Money Market fund. It's a long way back but feels more solid.
I have some money invested in a couple of Baillie Gifford funds: UK and European Growth Funds.
After a decent start the plummeting when tech stocks took a dive and although they are slowly , very slowly improving, they still seem very volatile and I think it's probably time to get rid and find something else. Actually it was probably time to get rid ages ago!
I know there were several members on here who had invested in these so wondering what you have done and if anyone else is still holding, hoping they'll take a turn for the better.
And any ideas for replacements? ISAs or funds.
Thanks
BlackRock do a couple of decent European funds.
For UK funds try Artemis UK Select & Liontrust UK Focus.
I have some money invested in a couple of Baillie Gifford funds: UK and European Growth Funds.
After a decent start the plummeting when tech stocks took a dive and although they are slowly , very slowly improving, they still seem very volatile and I think it's probably time to get rid and find something else. Actually it was probably time to get rid ages ago!
I know there were several members on here who had invested in these so wondering what you have done and if anyone else is still holding, hoping they'll take a turn for the better.
And any ideas for replacements? ISAs or funds.
Thanks
BlackRock do a couple of decent European funds.
For UK funds try Artemis UK Select & Liontrust UK Focus.
But that does not constitute advice 😉.
My second best performer in my SIPP the last year: FTSE Developed Europe UCITS ETF up about 17%
Comments
I still have the majority of my money in regular savings, but I will have a tax bill for it at the end of the financial year. I just thought it would be a good idea to put some of it into a place where there’s the very remote chance I could get a decent sized win one day. And of course, the tax free returns are nice.
If I remember correctly you need to multiply a tax free rate by 1.66 for 40% tax payers and 1.82 for a 45% tax payer to get a savings rate comparable (saw it on Martin Lewis) which makes premium bonds a very attractive easy access account, and it's a lot more fun!
Maxing out ISA allowance then buying premium bonds makes the most sense to me if a 40-45% tax payer (as long as you don't have other forms of debt that are more expensive).
£1800 tax free. If you are a higher tax payer you would get £500 tax free interest and anything on top would be taxed at 40%. 5% instant access (which PB's are in reality) would give you £2.5k. Take off the £500 tax free savings allowance, leaving £2000 to be taxed at 40%. £800 in tax leaves £1200. Add in the £500 tax free allowance gives you £1700.
FTSE down 2.2% with most European markets down the same- France down almost 3%.
US opened lower with S&P500 down 1.3% and DJ down 1.4%.
Tbf they are currently the best around & are snowed under with applications.
I'm sure there is another way of combating inflation than simply putting up interest rates every time.
My pension is down 1.7% since the turn of the month. Still up over 7% in the last 12 months.
Also, how's everyone's investments doing? My pension is back to an all time high, I'm making more a month on it than my gross salary!
Really good fun finishing above financial experts.
Bring it on again please.
Happy to go again with the FTSE prediction. Bound to be wildly out, but what the heck.
Happy to have a go at predicting the FTSE 🔮
After a decent start the plummeting when tech stocks took a dive and although they are slowly , very slowly improving, they still seem very volatile and I think it's probably time to get rid and find something else. Actually it was probably time to get rid ages ago!
I know there were several members on here who had invested in these so wondering what you have done and if anyone else is still holding, hoping they'll take a turn for the better.
And any ideas for replacements? ISAs or funds.
Thanks
For UK funds try Artemis UK Select & Liontrust UK Focus.
But that does not constitute advice 😉.
Current and new Premium Bonds prize fund rate and odds
Prize fund rate for July 2023 prize draw
Odds (for July 2023 prize draw)
New prize fund rate (from August 2023)
New odds (from August 2023)
3.70% tax-free
24,000 to 1
4.00% tax-free
22,000 to 1
Number and value of Premium Bonds prizes
Value of prizes in July 2023
Number of prizes in July 2023
Value of prizes in August 2023 (estimated)
Number of prizes in August 2023 (estimated)
£1,000,000
2
£1,000,000
2
£100,000
71
£100,000
77
£50,000
141
£50,000
154
£25,000
284
£25,000
308
£10,000
707
£10,000
769
£5,000
1,417
£5,000
1,539
£1,000
14,960
£1,000
16,194
£500
44,880
£500
48,582
£100
1,744,226
£100
1,875,589
£50
1,744,226
£50
1,875,589
£25
1,503,501
£25
1,701,995
Total
£374,026,425
Total
5,054,415
Total
£404,858,225
Total
5,520,798