revtothelimit - motorbike forum

Screwdriver wrote: Mon Aug 28, 2023 6:46 pmLocked behind a paywall.

Brave browser reader mode overcomes this problem on The i

Potter wrote: Tue Aug 29, 2023 3:56 am

Screwdriver wrote: Mon Aug 28, 2023 6:46 pm Locked behind a paywall.

It's a fairly obvious piece saying what I've been saying throughout this thread.

Basically if you don't put much money in, then you shouldn't expect much out and the likelihood of you winning very big isn't high even if you put the maximum in. He says something like even if you put the maximum in then you'd potentially win the million quid only once in 1,000yrs.

His headline is a bit misleading though...

It's true that most people won't win a thing, but I was surprised by how little most people have in there! That's not laughing at how poor the poor people are surprise, it's surprise that the majority of people only have a fiver or so in there. On the other hand, I bet loads of it is just 'cause people withdrew their 10k not realising they had £10,005 in there.

He says you've got a 1:22,000 chance of winning something, so if you've got 50k in there you're basically guaranteed to win something every month ('cause each quid gets you one entry). Statistics being what they are though, that's not true It's like the whole "1 2 3 4 5 6 is just as likely to win the lottery" thing.

If you've got 50k in there you're very very likely to win something every month.

Smell what you are shovelling potter . You used to post some very sensible contributions to this forum. Not anymore.

Phoenix wrote: Tue Aug 29, 2023 11:42 am

Screwdriver wrote: Mon Aug 28, 2023 6:46 pmLocked behind a paywall.

Brave browser reader mode overcomes this problem on The i

I was just refreshing the page and reading some more till the popup appears then repeat

Wifey and I had £50k each in Premium Bonds that we moved elsewhere earlier this year, the money was under performing. I was getting fed up with zero prize months, £50 the next month, £25 the month after. Even if you only open a Chase account you'll get 4.1% a month, every month and can access the money instantly. If you don't need access to the money for 12 months then there are accounts giving 6%.

OTOH I've got £5k in which has made about 4%pa for the last 2 years. If I was getting 6% that'd be, say £100 more, so I'm basically gambling £100pa. (If they made £0 the difference would be £300 obvs). So there's probably a case to be made for sticking a few £k in but it's harder to make for £50k (or £100k).

Quite happy to have that amount in play for the fun of hoping for £100k.

Count Steer wrote: Wed Aug 30, 2023 7:20 am OTOH I've got £5k in which has made about 4%pa for the last 2 years.

Mine were performing at around 1% which was rougly in line with anything I could get elsewhere and weren't worth moving. It wasn't until September last year that interest rates started to rise. The rate went to 3% in January and was at 3.3% in March, about when I moved the money elsewhere. The previous couple of months my money had achieved well under that. Link to the historical rates below.

https://www.nsandi.com/historical-interest-rates

Entirely off topic but...

Screwdriver wrote: Mon Aug 28, 2023 6:46 pm Locked behind a paywall.

archive.ph will sort that

I cashed out all our PB's when we moved however have £5k invested for my mum, that's getting pulled out as I can get 5.5% with Barclays in an ISA.

Potter wrote: Wed Aug 30, 2023 2:06 pm

v8-powered wrote: Wed Aug 30, 2023 12:12 pm I cashed out all our PB's when we moved however have £5k invested for my mum, that's getting pulled out as I can get 5.5% with Barclays in an ISA.

This was one of the points I was making about small amounts, you could take it out and instead of 3.75% you could get 5.5%.
Over a year that is £7.30 a month extra in the 5.5% account.

So you just have to decide if you're willing to trade the extra seven quid for the chance of winning a million, or a hundred grand, etc.

If it's a bigger amount (like £50k) then you have to decide if it's worth 5.5% and paying tax on it, or 3.75% tax free plus the chance of winning big.

When wife and I had 100k between us in PB we won something pretty much every month, with the 5k of my mums I've never had a sniff of a win. Better take the regular 5.5%.....

For those that are interested in such things, NS&I have announced a fixed 1 year bond offering (record breaking apparently) 6.2%. (Minimum investment £500, max £1mn).

Count Steer wrote: Thu Aug 31, 2023 7:12 am For those that are interested in such things, NS&I have announced a fixed 1 year bond offering (record breaking apparently) 6.2%. (Minimum investment £500, max £1mn).

I put 20k in a one year fixed NS&I Bond in Feb.... at 4%

KungFooBob wrote: Thu Aug 31, 2023 7:58 am

Count Steer wrote: Thu Aug 31, 2023 7:12 am For those that are interested in such things, NS&I have announced a fixed 1 year bond offering (record breaking apparently) 6.2%. (Minimum investment £500, max £1mn).

I put 20k in a one year fixed NS&I Bond in Feb.... at 4%

Well, you have had 7 months at 4% which isn't to be sniffed at. Who knows, when it matures you might get a 7% offer. Might chuck a few bob into this one myself though.

Screwdriver wrote: Fri Sep 01, 2023 8:07 pm "No luck this time". No shit. This is fucking hopeless. There's twenty grand in there doing fuck all.

The smaller prizes (under £500) aren't announced until tomorrow?

I'll be in for another few hundred I reckon! I know this because i've manifested it.

Thought the draw was tomorrow. I was feeling lucky.

Sounds like that fortune teller had a real gift Dunno how they can see the future so clearly.

Nothing. Getting withdrawn and dropped in to an ISA.

Potter wrote: Sat Sep 02, 2023 6:34 am

When I was about sixteen a fortune teller told me that I'd never win anything and I'd have to work hard for everything I have, and so far that's been true.
So the £150 is only what I'd be getting elsewhere in interest, but I'm ever hopeful that she was wrong and one day I land a big prize.

Hope and optimism

They could start a new version of Macbeth with that.

I've only had one win this year with £14k in there. Nothing this month either.