Amazed anyone holds premium bonds with rates about 800bps below inflation. But each to their own
My financial advisor laughed at me when I said I was investing £25,000 in premium bonds. That £25,000 is still there, intact and I've had several wins. The investments recommended by my IFA cost me a six figure sum as two went bust and one was a Ponzi scheme!
Also rather a better investment than the stock market this year!
Amazed anyone holds premium bonds with rates about 800bps below inflation. But each to their own
Odd post. *Ordinary* people need to keep six months worth of living expenses as a reserve. That’s almost universal advice. So it needs to be an easy access cash account, right? Well if you go on Raisin UK, you can hardly get an account like that paying even 2%, and the “top” payers are dodgy Middle Eastern operations offering sharia accounts. Well each to his own, but when inflation is 10% the difference between 1.8% at Tahnoon Bank Damascus and 1.4% at NS&I is neither here nor there.
But if you have a better solution, please share (that is the point of this thread). I have a lot of cash from the house sale, and while I fully intend to invest it, I’m drip-feeding it in monthly in the current volatile environment. So that means the rest needs to stay easy access, and of course there is the £85k limit on government guarantees for any one account. Premium bonds is one option, but the limit is 50k, so I need more options…
Amazed anyone holds premium bonds with rates about 800bps below inflation. But each to their own
Odd post. *Ordinary* people need to keep six months worth of living expenses as a reserve. That’s almost universal advice. So it needs to be an easy access cash account, right? Well if you go on Raisin UK, you can hardly get an account like that paying even 2%, and the “top” payers are dodgy Middle Eastern operations offering sharia accounts. Well each to his own, but when inflation is 10% the difference between 1.8% at Tahnoon Bank Damascus and 1.4% at NS&I is neither here nor there.
But if you have a better solution, please share (that is the point of this thread). I have a lot of cash from the house sale, and while I fully intend to invest it, I’m drip-feeding it in monthly in the current volatile environment. So that means the rest needs to stay easy access, and of course there is the £85k limit on government guarantees for any one account. Premium bonds is one option, but the limit is 50k, so I need more options…
I guess you are not going to reply “Bitcoin”….😂
as some one in their early 30s i absolutely guarantee nearly everyone my age and lower have absolutely nowhere near that amount, and likely will never have that to hand.
I've shared them before, but fluid.ch offer 4% usd interest. 3.1% for GBP. I use them for savings and free fx conversions if i fancy doing some low level fx trading.
Amazed anyone holds premium bonds with rates about 800bps below inflation. But each to their own
Odd post. *Ordinary* people need to keep six months worth of living expenses as a reserve. That’s almost universal advice. So it needs to be an easy access cash account, right? Well if you go on Raisin UK, you can hardly get an account like that paying even 2%, and the “top” payers are dodgy Middle Eastern operations offering sharia accounts. Well each to his own, but when inflation is 10% the difference between 1.8% at Tahnoon Bank Damascus and 1.4% at NS&I is neither here nor there.
But if you have a better solution, please share (that is the point of this thread). I have a lot of cash from the house sale, and while I fully intend to invest it, I’m drip-feeding it in monthly in the current volatile environment. So that means the rest needs to stay easy access, and of course there is the £85k limit on government guarantees for any one account. Premium bonds is one option, but the limit is 50k, so I need more options…
I guess you are not going to reply “Bitcoin”….😂
as some one in their early 30s i absolutely guarantee nearly everyone my age and lower have absolutely nowhere near that amount, and likely will never have that to hand.
I've shared them before, but fluid.ch offer 4% usd interest. 3.1% for GBP. I use them for savings and free fx conversions if i fancy doing some low level fx trading.
I probably did not either, at that age, but most of the NS&I fans on here are older, I think.
I just took a look at fluid but its not for me, because it's risk. Nothing is guaranteed, nothing backs it. I've got enough risk exposure as it is with the state of the equity markets. But if you are comfortable with the risk, I can see why it works well for you. If the Fx trading is fee free, I suppose that is interesting. But the last time I tried that, buying the swiss franc, the bastard Gnomes devalued the currency literally 24 hours after I took my stake
Amazed anyone holds premium bonds with rates about 800bps below inflation. But each to their own
Odd post. *Ordinary* people need to keep six months worth of living expenses as a reserve. That’s almost universal advice. So it needs to be an easy access cash account, right? Well if you go on Raisin UK, you can hardly get an account like that paying even 2%, and the “top” payers are dodgy Middle Eastern operations offering sharia accounts. Well each to his own, but when inflation is 10% the difference between 1.8% at Tahnoon Bank Damascus and 1.4% at NS&I is neither here nor there.
But if you have a better solution, please share (that is the point of this thread). I have a lot of cash from the house sale, and while I fully intend to invest it, I’m drip-feeding it in monthly in the current volatile environment. So that means the rest needs to stay easy access, and of course there is the £85k limit on government guarantees for any one account. Premium bonds is one option, but the limit is 50k, so I need more options…
I guess you are not going to reply “Bitcoin”….😂
as some one in their early 30s i absolutely guarantee nearly everyone my age and lower have absolutely nowhere near that amount, and likely will never have that to hand.
I've shared them before, but fluid.ch offer 4% usd interest. 3.1% for GBP. I use them for savings and free fx conversions if i fancy doing some low level fx trading.
I probably did not either, at that age, but most of the NS&I fans on here are older, I think.
I just took a look at fluid but its not for me, because it's risk. Nothing is guaranteed, nothing backs it. I've got enough risk exposure as it is with the state of the equity markets. But if you are comfortable with the risk, I can see why it works well for you. If the Fx trading is fee free, I suppose that is interesting. But the last time I tried that, buying the swiss franc, the bastard Gnomes devalued the currency literally 24 hours after I took my stake
all deposits are 100% insured, even if fluid goes bankrupt, you still have your money... They don't use fractional reserve, so every dollar in your account is a dollar in an account.
I don't think 100% insured guarantees your money is 100% safe. The insurance company(ies) can default as well. Which is why the FSCS scheme is government backed.
I don't think 100% insured guarantees your money is 100% safe. The insurance company(ies) can default as well. Which is why the FSCS scheme is government backed.
if lloyds of london goes bankrupt, we've got bigger problems than not being able to get your money out. But it doesn't matter, because they don't use fractional reserve... so your money is safe from a bank run.
I don't think 100% insured guarantees your money is 100% safe. The insurance company(ies) can default as well. Which is why the FSCS scheme is government backed.
if lloyds of london goes bankrupt, we've got bigger problems than not being able to get your money out. But it doesn't matter, because they don't use fractional reserve... so your money is safe from a bank run.
Whilst I agree (I work in the Lloyds environment and have done for 30 years), you are relying on the policy responding to the event they have insured for. Which broadly in the literature says fraud and theft. If there was a fraud and/or a theft I wouldn't hold my breath in getting any claim paid quickly, more likely 12 months+ as it's likely to be complex.
The main thing is your comfortable with the risk, others more cautious won't be, neither is right or wrong (compared to the other).
For people looking for savings rates, these guys are a bona fide UK bank with a full license and FSCS backed. Currently only offering fixed terms but sometimes switch on easy access. Full disclosure: I'm an investor.
@Er_Be_Ab_Pl_Wo_Wo_Ch takes the wooden spoon, but I bet we all wish we had his optimism!
Until next time...... (Premium Bonds in two days.....)
End of year predictions .... ?
Good point!
Yes, lets 'go again' as we seem to say a lot around here!
So predictions for the FTSE 100 at COB on the last trading day of the year. Either post here or sometimes easier to send me a message so no one goes one above or below yours!
Comments
And that was guaranteed not to lose its notional value.
I've shared them before, but fluid.ch offer 4% usd interest. 3.1% for GBP. I use them for savings and free fx conversions if i fancy doing some low level fx trading.
I just took a look at fluid but its not for me, because it's risk. Nothing is guaranteed, nothing backs it. I've got enough risk exposure as it is with the state of the equity markets. But if you are comfortable with the risk, I can see why it works well for you. If the Fx trading is fee free, I suppose that is interesting. But the last time I tried that, buying the swiss franc, the bastard Gnomes devalued the currency literally 24 hours after I took my stake
The insurance company(ies) can default as well.
Which is why the FSCS scheme is government backed.
The main thing is your comfortable with the risk, others more cautious won't be, neither is right or wrong (compared to the other).
https://smartsavebank.co.uk
https://chetwood.co/products/
Yes, lets 'go again' as we seem to say a lot around here!
So predictions for the FTSE 100 at COB on the last trading day of the year. Either post here or sometimes easier to send me a message so no one goes one above or below yours!
7500 please
7050