Something for the future
Something for the future
Author
Discussion

mondeoman

Original Poster:

11,430 posts

296 months

Monday 16th January 2006
quotequote all
10 years ago I took out a few "savings" plans for my kids, basically £40/month for ten years.

This week we got the final details through - they've made a grand total of £128 more than the cash amount paid in. Pitiful - represents about 2% annual interest, I'd've been better off leaving it in my bank account.

Now what I need to to is invest the proceeds into something worthwhile and continue to add the capital at the same rate. Based on a 5 year term, whats the best I can expect

B17NNS

18,506 posts

277 months

Monday 16th January 2006
quotequote all
I did pretty much the same.

Opened 4 (with a view to maybe carpet bagging a couple payouts on the mutuals)

The idea was that it would pay for a TVR. Seven years in and I recently closed them all to help pay for an extension.

Nearly got back what I have put in - whoever is managing these funds really does need the sack.

timmy30

9,325 posts

257 months

Monday 16th January 2006
quotequote all
£40 pcm. Buy them a gold sovereign each month.

littlegreenfairy

10,134 posts

251 months

Monday 16th January 2006
quotequote all
Premium Bonds? I know you don't really get any interest paid but atleast you don't lose anything...I've got some and so far this year have won more than the interest would be.

I just like the whole gimmick side of it - and the winnings are tax freeeeeeeeeeeeeeee

Plotloss

67,280 posts

300 months

Monday 16th January 2006
quotequote all
timmy30 said:
£40 pcm. Buy them a gold sovereign each month.


How's turning them into Chavs going to help?

beanbag

7,346 posts

271 months

Monday 16th January 2006
quotequote all
littlegreenfairy said:
Premium Bonds? I know you don't really get any interest paid but atleast you don't lose anything...I've got some and so far this year have won more than the interest would be.

I just like the whole gimmick side of it - and the winnings are tax freeeeeeeeeeeeeeee


My parents are into this! Only a couple of months ago, my dad told me he won over 300 quid! (No pound sign on foreign keyboard).

Jaglover

46,820 posts

265 months

Monday 16th January 2006
quotequote all
Plotloss said:
timmy30 said:
£40 pcm. Buy them a gold sovereign each month.


How's turning them into Chavs going to help?


timmy30

9,325 posts

257 months

Monday 16th January 2006
quotequote all
Plotloss said:
timmy30 said:
£40 pcm. Buy them a gold sovereign each month.


How's turning them into Chavs going to help?




You know what I meant.

Actually on second thoughts buy a mix of Gold Sovereigns and Silver Britannias.

mondeoman

Original Poster:

11,430 posts

296 months

Monday 16th January 2006
quotequote all
timmy30 said:
Plotloss said:
timmy30 said:
£40 pcm. Buy them a gold sovereign each month.


How's turning them into Chavs going to help?




You know what I meant.

Actually on second thoughts buy a mix of Gold Sovereigns and Silver Britannias.



Or shares in Ratners ..............

monkey boy 1

2,066 posts

261 months

Monday 16th January 2006
quotequote all
Bought £100 of premium bonds for my 2 kids about 5 years ago. Got £50 back on one & £100 back on the other. Pretty good eh ?