OT- Savings

If you go for premium bonds, don't put them all in one account. I remember Martin Lewis (money saving expert) saying that between £10,000 and £15,000 is about right. Apparently you rarely win anything with less than £10,000 but don't win more if you go above £15,000.

 

Does that actually make sense, statistically?

 

How's that work? If that was correct it would mean the system is rigged

 

Urban myth!!!!

 

I think it's purely a question of chance, have a look at the website, it's probably still on there. I was a bit skeptical at first but the maths made sense.

 

Dunno mate, have a look at Money Saving Expert....

 

I’ve just read the guide on there as I didn’t have much of a clue what they are. It doesn’t mention that anywhere here:

https://www.moneysavingexpert.com/savings/premium-bonds/

 

Maybe his advice has changed.

 

It can't possibly be true, as others have said, it would mean that the whole draw system was being systematically fiddled.

 

I'm sure I haven't dreamed it, I think it was on the telly now I think about it.

 

I invested £6 in premium bonds in 1971. Not won a single penny.

Disgusted!!

 

This myth has been around for years, my unvaccinated flat earth friend, who said the moon landings never happened, warned me about it.

https://www.thisismoney.co.uk/money/saving/article-1592070/Premium-Bond-myths-debunked.html

 

Can't argue with that mate.

 

I could double your investment in a few days. My return ticket to Colombia, comes off the top..

 

And you’re very welcome, mate. Happy to help..

 

If you don’t own either some Bitcoin or precious metal with a proportion of your savings then IMO you’re being negligent to yourself and your family. There’s an insane amount of inflation about to hit due to recent US and to a lesser extent the rest of the West’s monetary policy.

It's not just that high inflation isn't transitory, it's that inflation will go much higher and there's nothing the government can or will do to stop it. It's finally time to pay for years of quantitative easing. Serious chickens coming home to roost.

Looking at your requirements though if you can’t accept short/medium term fluctuations downwards then it probably has to be gold/silver. A shame as BTC is going miles higher ultimately. But it might be lower in a year or two if you really need it then.

 

I might be able to set aside say 1k for longer term investment but the rest needs to be there in a year when we buy a bigger property and need to pool our savings/equity.

 

I wouldn't recommend building a pool, they don't add much value and the maintenance is expensive. They do increase your liquidity though.

 

Had one bought when I was born. 1956. Still waiting for that 1st win.

 

Haha. I was also born 56 and my parents bought 5 bonds for me. It also never won.
When I got married my mother gave it to me. I just went to the P.O. And cashed it in.
Sorry now as it would have been very interesting to find out if those 5 bonds were forever going to be losers or perhaps they might have made me a millionaire.