I’m in the money!

TV’s Martin Lewis has a great website for investment ideas etc

I have had premium bonds since they first came out, never won a penny,and always updated addresses etc

What - you haven't blown it on a Lamborghini??

I seem to be fairly lucky with PB and prize money has been greater than a lot of my bank account interest.
My best investments have been index linked savings which are no longer available to new investors, they are automatically reinvested when they come for renewal.

I moved to Egypt when I was in my early 60's and had no intention of returning to UK, for this reason I had no life insurance. After 13years i had to return to UK. It was now too late to get any reasonable life insurance so what I have done is to buy premium bonds as and when I can afford them. This is to help cover funeral expenses. My children work hard but I don't want them to be left having to find money to cover my funeral. I have already sorted out a company that sells really pretty eco coffins and left instructions with my will.

Have to say - this really is not the place of financial advice . I have lots of questions here but I am not go to ask them as - this is not the place for financial advice !

Depends how much your pot is, but definitely pay off any mortgage, sort out expensive household stuff such as new boiler to future proof your home expenses, then do consult an independent financial adviser. Using a managed fund should get you around 3 - 4% at least, maybe more. You can sell shares as and when you need to money, so it is in effect easy access, and you can give it ISA protection too.

We bought premium bonds. I usually win £25 or £50 per month which is a nice bonus.

FWIW, I invested the maximum sum in PB when I sold my house and was renting, and initially I got a good return but it tailed off to almost nothing, so keep an eye!

I check the percentage each year on my P.Bs. One year I had just over 12%. Have never had less than 1%.
I love the anticipation each month too.

Yes Santander 123 is probably the best no risk interest rate for amounts up to £20,000. You have to have at least £500 a month paid into it and three direct debits and you do get interest on some of the direct debits such as council tax, mobile phone and Internet payments. The rate was 3% when I first took it out but went down to 1.5% which is still better than most savings accounts.

We put ours into Post Office savings acc. Best rate we could find for a year tie in with a well known name.

I invested in Premium Bonds when I got my pension pay out. That was about 3 years ago & I have more £25 wins than I can remember since then- at least one every 2 months- sometimes 2 in the same month.
I had bonds since I was 5 years old & only one win but I have really made a nice sum out of then now.
Plus I can my original stake out at any time so have not lost it.

Agree with B9 about paying off any outstanding debts before anything else. Next look on the comparison website for the best bank accounts which pay interest, best long term savings for any money you don't need to fall back on and then look at easy access accounts. It is vital that you first find, and then click on the box which says all accounts not just the ones you can open via them or you won't see the best deals.

Many local building societies have really good savings rates which are limited to people living within certain post codes and others insist you go into a branch to open the account which will again limit who can open them.

One of the best things you can do with money you may need access to is keep it in an easy access account and also open regular savings accounts as these usually pay much higher rates than EA accounts. You can move money from the EA to the RSs each month. Some are EA and others you have to leave until they mature, usually a year. The Leeds one just rolls on so you get the better interest rate for longer. It only allows one withdrawal a year.

Be a rate tart and keep a note of when the rates change.

I LOVE my premium bonds! Like others, it's exciting each month to see how much I have won. It's usually £25.

Instead of writing a sum of money to be paid to my grandchildren when the time comes, I have invested the money into premium bonds and it is written into my will that this money is to be shared among them.
The family know about this arrangement and we all share in the delight at each win.

Premium Bonds give a very poor rate of return unless you have maximum (£50K) - have a look at MSE. there are better deals out there if you look

www.moneysavingexpert.com/savings/premium-bonds/#luck

Only 1 and half percent

I have a share dealing account and only buy into AIM listed companies and made serious money when they've moved upwards. I've bought shares in Rio Tinto, Shell, London Clubs, Hilton, Costa and many others but not in a portfolio. If you do that, you miss out on the perks.
Occasionally, I've loaned money privately with a 9 - 14% return over 2 years and not lost any...yet.

You could also invest in property. A sure fire winner. Bricks and mortar never let you down.

Sorepinkie, I though Santander changed that account last year? Lowered the amount and the interest.

Interest rates and terms and conditions for the Santander 123 account
As well as interest on the balance, you can get cashback on bills, and they have retailer offers as well, typically 5% cashback. I've found the Co-op and Waitrose offers particularly useful.

Buy a bit coin/s. My son has done exceedingly well from them. About 3 yrs ago he invested - one bit coin cost about £300 - he recently sold four: two sold for £32,000 and two more £36,000!! I didn’t take his advice nor did his workmates. ?

I took my pension lump free sum and put it into my stocks and shares ISA which I’ve had for a decade. Really, really done well over time but know this may not always be the case

On the basis that we never know what's round the corner, investing some of it long term in an Investment or Insurance Bond as it would not be considered in a local authority's assessment for care homes!!
But do something nice with the rest and read Martin Lewis each week:
www.moneysavingexpert.com/

I would give Castle Trust the once-over. I never do fixed for more than 1 year and they were offering 2.5 last time I looked. Premium bonds are fun for sure but usually a loss maker depending on amount of holding.