Savings and Investments thread

newyorkaddick · July 17

golfaddick said:

2 other pieces of financial news I picked up upon today......

1) SpaceX shares are now lower than their original release price.

2) trillions of dollars have flowed out of Nvida and other semi-conducter shares in July......and mainly into the Mag7 companies. Wall Street are now awaiting the results of the big tech companies and if they disappoint then.......???

Re. 2) respectfully how does 'trillions of dollars' flow out of NVDA etc. when by definition every share sold has a buyer? The market capitalisation has fallen (and vice versa for the Mag 7) but the number of shares outstanding is unchanged.

TelMc32 · July 17

Carter said:

Are the Treasury/Government allowed to borrow money secured against the volume of cash held in Premium Bonds?

PB monies are used by UK Gov for day to day spending and servicing debt. You’re essentially lending money to the UK Government and, instead of loan interest, they offer you the chance to win tax free prizes.

PragueAddick · July 18

Fortune 82nd Minute said:

Good news on the premium bond front.

The prize fund rate has been increased from 3.30% to 3.80%. An additional £57 million has been added to the prize fund with over 271,000 more prizes up for grabs. The odds of each Bond winning have improved from 23,000 to 1 to 22,000 to 1.

Hopefully more chances to win for Lifers with premium bonds!!

This has upended my plan to get out. I sold half recently but suffer from the totally irrational feeling that I have halved my chance of a big payout. Was going to sell the rest after the next draw.

My overall problem is that HMRC count PBs as taxable "UK -situs" investments when it comes to IHT for non-residents, whereas gilts are exempt. On the other hand the Czechs don't tax my PB earnings under about @3k pa, which I've never achieved. Yeah, I know the rational answer is still move it into gilts, but, but, I just can't let it go. And it's all youse fault for making the monthly draw a big event on here🤣

LargeAddick · July 18

PragueAddick said:

Fortune 82nd Minute said:

Good news on the premium bond front.

The prize fund rate has been increased from 3.30% to 3.80%. An additional £57 million has been added to the prize fund with over 271,000 more prizes up for grabs. The odds of each Bond winning have improved from 23,000 to 1 to 22,000 to 1.

Hopefully more chances to win for Lifers with premium bonds!!

This has upended my plan to get out. I sold half recently but suffer from the totally irrational feeling that I have halved my chance of a big payout. Was going to sell the rest after the next draw.

My overall problem is that HMRC count PBs as taxable "UK -situs" investments when it comes to IHT for non-residents, whereas gilts are exempt. On the other hand the Czechs don't tax my PB earnings under about @3k pa, which I've never achieved. Yeah, I know the rational answer is still move it into gilts, but, but, I just can't let it go. And it's all youse fault for making the monthly draw a big event on here🤣

It’s the hope that kills you.

PragueAddick · July 18

LargeAddick said:

PragueAddick said:

Fortune 82nd Minute said:

Good news on the premium bond front.

The prize fund rate has been increased from 3.30% to 3.80%. An additional £57 million has been added to the prize fund with over 271,000 more prizes up for grabs. The odds of each Bond winning have improved from 23,000 to 1 to 22,000 to 1.

Hopefully more chances to win for Lifers with premium bonds!!

This has upended my plan to get out. I sold half recently but suffer from the totally irrational feeling that I have halved my chance of a big payout. Was going to sell the rest after the next draw.

My overall problem is that HMRC count PBs as taxable "UK -situs" investments when it comes to IHT for non-residents, whereas gilts are exempt. On the other hand the Czechs don't tax my PB earnings under about @3k pa, which I've never achieved. Yeah, I know the rational answer is still move it into gilts, but, but, I just can't let it go. And it's all youse fault for making the monthly draw a big event on here🤣

It’s the hope that kills you.

Exactly. It is such a cunningly crafted and implemented tool for getting citizens to share the financial burden of running the State. I think it is admirable that it has survived the introduction of Thatcher's utilities share giveaways, the promotion of personal private pensions, all kinds of dodgy characters becoming IFAs (not you, Golfie😉), internet based investment platforms, and cryptobollocks.

redman · July 18

golfaddick said:

Fortune 82nd Minute said:

Good news on the premium bond front.

The prize fund rate has been increased from 3.30% to 3.80%. An additional £57 million has been added to the prize fund with over 271,000 more prizes up for grabs. The odds of each Bond winning have improved from 23,000 to 1 to 22,000 to 1.

Hopefully more chances to win for Lifers with premium bonds!!

Where has that money come from ? I thought the country was skint !

Or the think/know the base rate is going up soon.

The government spends the money it receives from the public for its expenditure. Government borrowing continues to increase, despite the impression given by some. The prize money is like paying interest on debt. The authorities obviously think it is easier and cheaper to pay Joe Public than Mr International Gilt.

golfaddick · July 18

redman said:

golfaddick said:

Fortune 82nd Minute said:

Good news on the premium bond front.

The prize fund rate has been increased from 3.30% to 3.80%. An additional £57 million has been added to the prize fund with over 271,000 more prizes up for grabs. The odds of each Bond winning have improved from 23,000 to 1 to 22,000 to 1.

Hopefully more chances to win for Lifers with premium bonds!!

Where has that money come from ? I thought the country was skint !

Or the think/know the base rate is going up soon.

The government spends the money it receives from the public for its expenditure. Government borrowing continues to increase, despite the impression given by some. The prize money is like paying interest on debt. The authorities obviously think it is easier and cheaper to pay Joe Public than Mr International Gilt.

Also Joe Public laps it up whereas Mr International Gilt gets worried & downgrades our economic growth forecasts.