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Savings and Investments thread
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3 x £25 and 1 x £501
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£25 again this month.
I live in hope for the big one0 -
1 x £50 & 1 x £25 here0
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4 x £25 this month (in blocks of £2k - £5k)…1
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£75 for me (1 x £50 1 x £25)
£25 For Mrs R7L
£25 for Elder Daughter
£50 for youngest Daughter (1 x £50)
£50 for Father in Law.0 -
£150 for me (1x100 and a 50), £125 for Mrs (100 and a 25) but nothing for junior. Might be able to pay the energy bill this month
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It’s in 4 blocks. £2.5k for years and rarely had a win. From 2019 I built it up to the max in 3 blocks (one a year til 2021).meldrew66 said
…out of interest, noting you have a decent 4 wins, are your bonds in a single block or dispersed?TelMc32 said:3 x £25 and 1 x £50
Just looked back and it’s £625 over the last 7 draws, including todays.0 -
My builders girlfriend sold her house and moved in with him a couple of months back, sitting on £300k until they move so I suggested £50k in premium bonds as well as some interest accounts........ first month, she wins £1100!!2
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Similar here - sold my property in October & waiting to buy next year. Put £50k into PB & today was my first draw.Rob7Lee said:My builders girlfriend sold her house and moved in with him a couple of months back, sitting on £300k until they move so I suggested £50k in premium bonds as well as some interest accounts........ first month, she wins £1100!!
£25 😔
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for the first time this year nothing for either my wife or me.0
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Hmm, got £100, from a single bond too. Can't quibble about that, I guess.0
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Nothing for me for the 374th month in a row2
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Reminds me of the old joke about the fella who prayed to God every night to let him win the lottery. Goes on for months and the fella then berates God for not answering his prayers. God says “at least meet me half way and buy a ticket” 🤷🏻♂️😉IdleHans said:Nothing for me for the 374th month in a row5 -
Just added up mine for the year £6250
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Ditto, Large.LargeAddick said:for the first time this year nothing for either my wife or me.
And after that performance tonight, I wished I'd stayed in bed all day ....
Oh well, there's always tomorrow.0 -
My Dad left a lump sum each to my two nephews. We’ve done absolutely nothing with it and it’s still sitting in the solicitor’s client account nearly two years on. We need to move it. They can’t have it until 21. Currently 18 and 16. The solicitor says:‘The accounts in question should be trust accounts, this is so that the child in question cannot access the money before they are entitled, that you are not held accountable for the tax on any interest in your personal capacities and that the funds should not form part of your estates should you unfortunately die before the child reaches the age of entitlement. We are aware that the number of organisations willing to offer such accounts are limited and are apparently becoming more limited over time and this is why some form of professional advice would be recommended.‘Can someone point us in the right direction? Thank you.0
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Curb_It said:My Dad left a lump sum each to my two nephews. We’ve done absolutely nothing with it and it’s still sitting in the solicitor’s client account nearly two years on. We need to move it. They can’t have it until 21. Currently 18 and 16. The solicitor says:‘The accounts in question should be trust accounts, this is so that the child in question cannot access the money before they are entitled, that you are not held accountable for the tax on any interest in your personal capacities and that the funds should not form part of your estates should you unfortunately die before the child reaches the age of entitlement. We are aware that the number of organisations willing to offer such accounts are limited and are apparently becoming more limited over time and this is why some form of professional advice would be recommended.‘Can someone point us in the right direction? Thank you.
You need to speak to an IFA 😉.
Seriously though, if you are talking about putting the money in Trust then there are a few ways you can do this, but it usually means investing the money rather than leaving it in cash. Very easy to do but you should take advice on what sort of investment is right for you/them and what sort of Trust is suitable.1 -
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Metro bank & Santander were the two I looked at a few years back that did them, really poor interest though.1
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Can the parents/guardians not buy Premium Bonds and put them in the children’s names? Pretty sure you can do that now.Curb_It said:My Dad left a lump sum each to my two nephews. We’ve done absolutely nothing with it and it’s still sitting in the solicitor’s client account nearly two years on. We need to move it. They can’t have it until 21. Currently 18 and 16. The solicitor says:‘The accounts in question should be trust accounts, this is so that the child in question cannot access the money before they are entitled, that you are not held accountable for the tax on any interest in your personal capacities and that the funds should not form part of your estates should you unfortunately die before the child reaches the age of entitlement. We are aware that the number of organisations willing to offer such accounts are limited and are apparently becoming more limited over time and this is why some form of professional advice would be recommended.‘Can someone point us in the right direction? Thank you.
Also, ask your Solicitor for interest on the funds they have held in Client account over that period. Every little helps.3 -
Not sure that would be acceptable for the terms of the Will. Money to be held in Trust needs to be done as such. Just putting something in a child's name would not suffice I don't think.LargeAddick said:
Can the parents/guardians not buy Premium Bonds and put them in the children’s names? Pretty sure you can do that now.Curb_It said:My Dad left a lump sum each to my two nephews. We’ve done absolutely nothing with it and it’s still sitting in the solicitor’s client account nearly two years on. We need to move it. They can’t have it until 21. Currently 18 and 16. The solicitor says:‘The accounts in question should be trust accounts, this is so that the child in question cannot access the money before they are entitled, that you are not held accountable for the tax on any interest in your personal capacities and that the funds should not form part of your estates should you unfortunately die before the child reaches the age of entitlement. We are aware that the number of organisations willing to offer such accounts are limited and are apparently becoming more limited over time and this is why some form of professional advice would be recommended.‘Can someone point us in the right direction? Thank you.
Also, ask your Solicitor for interest on the funds they have held in Client account over that period. Every little helps.1 -
You can't do premium bonds, simply because they transfer to the child at 16, rather than 21 for this case.3
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Yes - that is a real pain. Was topping up my daughter's then at 16...no access so can't do it and don't want to tell her about them as she'd simply want to spend it! Why 16 - no idea...Rob7Lee said:You can't do premium bonds, simply because they transfer to the child at 16, rather than 21 for this case.0 -
Thanks for your replies.0
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https://nsandi-corporate.com/news-research/news/new-year-premium-bonds-boost-nsi-increases-rates-across-several-products
Interesting press release from NSI. Number of high value prizes being increased quite substantially from next month, whilst interestingly the number of £25 prizes is going down (although if you also include £50 and £100 prizes the total number of prizes stays about the same).Value of prizes in December 2022
Number of prizes in December 2022
Value of prizes in January 2023 (estimated)
Number of prizes in January 2023 (estimated)
£1,000,000
2
£1,000,000
2
£100,000
18
£100,000
56
£50,000
36
£50,000
112
£25,000
71
£25,000
223
£10,000
178
£10,000
559
£5,000
359
£5,000
1,118
£1,000
4,379
£1,000
11,983
£500
13,137
£500
35,949
£100
731,225
£100
1,160,883
£50
731,225
£50
1,160,883
£25
3,496,500
£25
2,621,112
Total
£218,993,750
Total
4,977,130
Total
£299,572,750
Total
4,992
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Not exactly a "Santa Rally" is it? Took a right hammering back end of last week :-(0
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It's looking more like 2018. But remember that the Santa Rally doesn't usually start until the second half of Dec. It will be thin volumes this week, so could easily ratchet up a bit.
Jan/Feb looks ugly, with earnings season potentially giving some bad outlooks, and the end of the seasonal boosts (US tax, window dressing, thin volumes, etc.)1 -
The Santa Rally has started
Not good for those of us that had the FTSE closing around the 7050 mark.0 -
Can i ask what is a Santa Rally?0
