I am in the process of inheriting some money from my mum, we are just waiting for probate to sell her house and shares and to access her savings accounts. I’ve decided to put the maximum amount into Premium Bonds for a year to see if I can get more returns than I’d get from a savings account.
I’ve already received £20k as my share of an insurance policy that paid on her death and did not form part of her estate so I put that windfall into bonds in November. It’s been in two draws and I’ve won £25 each time - will need to win more to equal the interest in a savings account but still ten months to go!
I hope that with max holdings I’ll win more, I find it quite exciting to look online each month!
My financial advisor was not as keen obviously, he would rather I invest more through him but after the losses investments made last year, I’m not really sure what to do. Hopefully the market will settle down by next year!