Investment?

[hamdogg]

Hi all, just got a yearly statement back from a savings account I've had since i were 16, I looked at the interest from just over 20k and started thinking there must be a better way 20k could make me more money??

[Bren.]

We took all of our money out of a savings account, and brought £30,000 in Premium Bonds, just as a safe experiment to see if we could improve our return, a couple of years ago.

More than trebled it.

[tree-fancier123]

With interest rates at all time lows I put £8k in a stocks and shares ISA. Unless you spend ages reading up on companies I think the best shares are in big companies that have a history of steady dividends.

I've got Glaxosmithkline 5.5% divi. People are always getting ill, so shouldn't go out of business.

Of course some industries are much more risky - no one foresaw how fracking in the US and other countries would hammer the oil price.

I would have utility company shares at the right price, National Grid, Severn Trent, SSE etc, never banks, couldn't even begin to understand all the chicanery.

[hamdogg]

We took all of our money out of a savings account, and brought £30,000 in Premium Bonds, just as a safe experiment to see if we could improve our return, a couple of years ago.

More than trebled it.

 

 

So how do premium bonds work?

[Bren.]

You buy the bonds, which are then put into a monthly draw. if your number comes up you win.

Bit like the lottery really, but you keep your bonds permanently, or until you choose to sell them again. So not gambling as such, it's saving, the gamble is in the return in prizes, rather than interest. Oh, and the odds of winning something are much higher.

[hamdogg]

So no matter what happens you don't lose your money?

[Scott Walker]

So no matter what happens you don't lose your money?

 

Nope, you can only gain more

[peatff]

So no matter what happens you don't lose your money?

 

No you can withdraw your original stake.

[Mark Bolam]

I had £20k in bonds once and it was returning 15% in the first year.

Died off after that.

 

Worth a shot though.

 

Worst case you win nowt, and you're only down the p poor interest the banks are paying.

 

Also you might win big!

 

My wins were all £50.

7 in one month once!

 

 

Sent from my iPhone using Arbtalk

[peatff]

We took all of our money out of a savings account, and brought £30,000 in Premium Bonds, just as a safe experiment to see if we could improve our return, a couple of years ago.

More than trebled it.

 

You trebled your return which was the interest on your savings or you trebled your £30,000 ? The post is a bit ambiguous.