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Prize bonds..worth it?

  • 26-04-2005 11:25pm
    #1
    canavanbn@hotma
    Closed Accounts Posts: 107 ✭✭


    Seeing as the banks are offering a $hite rate of interest and I dont know an awful lot about the stock market would anyone recomend buying prize bonds?
    Any success stories?
    Are the odds really that good?
    Thanks


Comments

  • #2
    MG
    Closed Accounts Posts: 823 ✭✭✭MG


    Prize bonds are not an investment as such, they are a lottery. The only difference is that it is a cheap lottery to play in that the cost is the inflationary effect on your bond holding.

    If you win, obviously it's a great punt (just like the lottery) but it's not an investment. Have you paid off all outstanding loans? That's a much better investment than putting it into a savings account esp. if you are paying payment protection insurance.


  • #3
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    Mother has a drawer full of them going back to the seventies, never won a penny. I fail to see the logic. I certainly fail to see the logic of buying them as a replacement for bank interest rates. They may be crap, but at least they're guaranteed.

    adam


  • #4
    0utshined
    Closed Accounts Posts: 1,746 ✭✭✭0utshined


    Most portfolios will have a few prize bonds in them but it is not an investment stratagey, more a bit of a punt. They have two main problems if you don't win : 1) there is no interest paid and 2) The real value of your money has decreased. By all means get a few but it's not an investment. If you don't know a whole lot about direct equity investment then maybe you could put some money in a managed fund and buy a couple of books on shares?


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