As per title really, I've £3k in Premium Bonds. Over the year I've won £60.
I've considered cashing some in and buying another watch - A Tudor Heritage seeing as you've asked :wink:
Keep the bonds or buy the watch :?:
New watch.
That's a rubbish return from the PB's and you're not alone. My mum was only saying yesterday that she's noticed her winnings are a fraction of what they were a couple of years ago, and she's got £20k tied up in them :(
Is it the Black Bay you're looking at?
Buy the watch.
No contest, the watch. You only live once so go for it. Definitely think dear old ERNIE is past his retirement age.
Your asking on a watch forum ,so people will say the watch.Ask on moneysaving expert and they will tell you ,you are mad to buy the watch.
I guess it depends on your circumstances; employment,weither you are approaching retirement,saving for retirement/have sufficient funds for retirement/have other savings etc,
It's the Tudor Heritage I was thinking of (although the Black Bay does appeal to me). Always liked the Monte Carlo but they are silly money.Originally Posted by Mikey-r
I'm biased because I love that watch but is it a stable investment? £60 on 3k over a year isn't a great return but it's a return none the less.
Actually, moneysavingexpert would advise against keeping the Bonds :wink:
http://www.moneysavingexpert.com/savings/premium-bonds
£60 on £3,000 sounds rubbish but the OP is ahead of the game! The prize fund payout is 1.5% - and most bond holders won't acheive that. Buy the watch if you want it (and can get a discount), otherwise move the funds into an ISA.
Sounds like you are loosing money on the bonds - may as well take a punt on the watch - it will probably go up in value and even if it doesn't you'll get a lot more enjoyment out of it
I'll buck the trend and say keep the premium bonds - they're giving you an average 2% p/a tax free return which is better than most savings accounts will give assuming you're a basic rate tax payer (considerably better return if you're a higher rate tax payer).
If you really like the watch then perhaps purchase from other investments / savings that aren't performing so well such as a cash savings account - and let's not forget you might scoup the £1m on the PBs and then be looking for a nice Patak 8)
The odds on winning the million pound Premium Bond jackpot is 40 BILLION to 1 :? :?
Always a new watch. There are no pockets in shrouds.
Probably about the same odds as finding a nice Patek on the street.The odds on winning the million pound Premium Bond jackpot is 40 BILLION to 1 :? :?
But you could win any of the lesser but still decent prizes. :wink:
Lets face it, you buy a lottery ticket for a pound and if you lose the pound is gone.
If you buy a premium bond for a pound and you lose you can get your pound back. :wink:
I'm a bit of an investment freak but I always like to have a decent amount in PB's as it is a nice little flutter to me.
And when those envelopes turn up...... :D
Cheers,
Neil.
Yep, but the chap has 3000 PBs so he's reduced the odds to only 13 Million to 1 of winning the £1m in each and every month he has the bonds ... all whilst maintaining the ability to get his funds back intact.The odds on winning the million pound Premium Bond jackpot is 40 BILLION to 1 :? :?
Never stop dreaming .... :lol:
... and before you don the shroud you've only got two wrists :wink:
Crikey ... I can't believe I've just made a statement like that, am I cured of the WIS illness :shock:
Not the case.
Odds are reduced from 40 billion to 1 to
40 billion to 3000, each bond still has only a 40 billion to 1 chance of winning.
Not the same as 40 billion/1 and 40 billion/3000
I simpler terms. 1 in a million lottery odds don't become 1 in 500,000 if you have 2 tickets, it becomes 2 in 1 million.
... and before you don the shroud you've only got two wrists :wink:
Crikey ... I can't believe I've just made a statement like that, am I cured of the WIS illness :shock:
But hopefully we all have a little time, with which it is much more fun to count our watches than to count our money.
Or to wait for some crazy electronic device to pick our number.
For those voting for a different watch I'd be interested in your choices.
Yes but if each bond has a 40b to 1 chance of winning and you have 3000 bonds, then surely you're holding as a whole has a significantly great chance of containing the winning individual bond compared to only holding 1 bond, therefore your chances of winning the jackpot are considerably better (i.e. reduced odds for the overall holding).Not the case.
Odds are reduced from 40 billion to 1 to
40 billion to 3000, each bond still has only a 40 billion to 1 chance of winning.
Not the same as 40 billion/1 and 40 billion/3000
I simpler terms. 1 in a million lottery odds don't become 1 in 500,000 if you have 2 tickets, it becomes 2 in 1 million.
The lottery comparison isn't comparing like with like as PBs are a simple draw.
(Caveat - Im no mathematical genius as you've probably guessed :lol: )
Had £30k for years....my IFA told me I'd be better putting it anywhere else! Once upon a time I would get several £50 prizes a month...these days I'm lucky to see £100 a year.
I bailed.
Apparently I have more chance of winning the Lotto than PB....and it's much better in the bank because you can't get 3% with PB.
I've got the same in PBs and I've "won" 50 twice in 5 years :(
oh and 3K would have pretty much bought me a new ND Sub back then, maybe a tidy SH one now, I think I might join you
thinking rationally, the increased value of these vs inflation is what kills these as an investment,
although a little less of the street than a lotto ticket,
but it's a gamble that ultimately cost you, it just that you get the amount back LESS inflation for the time you've held them plus any wins along the way that might fall your way rather than burning up £1 twice a week,
Yep, but you can't get your original stake back with the lottery so in reality PBs only cost you the inflational damage to capital minus any winnings. Winnings are tax free so with average luck a higher rate tax payer will beat just about all cash savings accounts except tax free cash ISAs
You know I funded the bulk of my first serious watch (Breitling Chronomat) with PB winnings as like you I had the max 20k holding then increased to 30k, these days the winnings from both me and the missus might just about cover a strap purchase once a year :lol:
With three grand to play with your best investment is probably a Rolex submariner or GMT or maybe an explorer 2 as at that price they've had all the depreciation they're going to have and the only way is up price wise.
Dave
And I don't even own a Rolex!
Assuming the rest of your finances are in reasonable shape I would definitely buy a watch but not Tudor as they dont really do it for me.
Not sure what I would get, I'm going through a Sinn phase at the moment so maybe one of those or possibly a Nomos, although not brand new, something off SC I think.
I'd be very tempted to get the watch and use the remainder to buy some shares that have a decent chance of multiplying over the next 3-5 years.
Oddly, with PB, newer bonds seem to win better than older ones. It's as if ERNI forgets the older ones. Sell all 3k and buy new ones. You'll win a lot more.
This isn't at daft as it sounds :? It's fixed I say fixed, just like the lottery.
Sub (inc. ND)... or in particular if you can stretch to it, get an LV or SD.
They're the only watches in which I'd currently rest £3-4k in the current market.
As i understood it, new PB dont really pay out more than older ones, its just that the volume of newer ones purchased far exceeds the older bonds still out there. So in theory you have no better chance?
I think thats the theory, but ivefound that, to keep the winnings rolling in, I change the oldest 20% each year as they tend to win the least.
This! more than doubled my investment for the financial just past and have never lost anything that i did not at least gain back the following year........touches wood :?otherwise move the funds into an ISA.
Used rolex? Price only going one way. I'm moving some of my cash into watches. Just bought an Explorer off SC. Best interest rates are poor, watches are prob a better, and more enjoyable investemt.
Premium bonds are rubbish, buy the watch.
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