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Prize bonds - good to invest in?

  • 19-12-2013 11:48pm
    #1
    Spiritiser
    Registered Users, Registered Users 2 Posts: 103 ✭✭


    Does anyone know if prize bonds are good investments. Also what about the post office saving accounts, are they good for interest


Comments

  • #2
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    I would not consider PBs an investment at all, yes in theory your money is safe and redeemable and the opportunity to win cash prizes is grossly overhyped. Smaller prizes, longer odds of winning make this a no brainer.

    In regards to POs, well there is the ongoing squeeze on deposit rate reduction and higher taxes, and if you are willing to commit money for a considerable period of time (> 5 yrs), expect net returns to be miniscule and doing well to beat inflation/CLI, if not your money will be losing value.

    Spread you net and buy some shares, I know the theory says rise and fall etc, but if your patient and prudent, you can navigate a safe course and obtain much better returns. Think commodities/essentials, eg we all need food, water, energy, medicine, possibly include insurance, medicine etc etc. Producers of these products/services will always enjoy a steady demand or better! Get my drift?

    Happy venturing!


  • #3
    el diablo
    Registered Users, Registered Users 2 Posts: 5,767 ✭✭✭el diablo


    No, Prize Bonds are a complete waste of time (and money). And now the chances of winning have been slashed again.

    http://www.independent.ie/irish-news/chances-of-winning-cash-on-prize-bonds-slashed-as-rate-cut-29860577.html

    Orange pilled.



  • #4
    Spiritiser
    Registered Users, Registered Users 2 Posts: 103 ✭✭Spiritiser


    el diablo wrote: »
    No, Prize Bonds are a complete waste of time (and money). And now the chances of winning have been slashed again.

    http://www.independent.ie/irish-news/chances-of-winning-cash-on-prize-bonds-slashed-as-rate-cut-29860577.html

    Prize Bonds are a complete waste of time (and money).
    i disagree they are a complete waste. i know someone who has a few hundred worth and won 75/250/500 more than once each amount. They can now cash them in again even after winning.


  • #5
    Spiritiser
    Registered Users, Registered Users 2 Posts: 103 ✭✭Spiritiser


    Sonnenblumen wrote: »
    I would not consider PBs an investment at all, yes in theory your money is safe and redeemable and the opportunity to win cash prizes is grossly overhyped. Smaller prizes, longer odds of winning make this a no brainer.

    In regards to POs, well there is the ongoing squeeze on deposit rate reduction and higher taxes, and if you are willing to commit money for a considerable period of time (> 5 yrs), expect net returns to be miniscule and doing well to beat inflation/CLI, if not your money will be losing value.

    Spread you net and buy some shares, I know the theory says rise and fall etc, but if your patient and prudent, you can navigate a safe course and obtain much better returns. Think commodities/essentials, eg we all need food, water, energy, medicine, possibly include insurance, medicine etc etc. Producers of these products/services will always enjoy a steady demand or better! Get my drift?

    Happy venturing!
    I read the way to make a small fortune there is to start with a large fortune.


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