Quarter of a million if it was tax free.
Quarter of a million if it was tax free.
The odds are still wank.Originally Posted by Foe
My mum and Stepdad have a decent chunk in premium bonds (30-50k or something) and usually win a couple of hundred every other month which seems decent enough. I'm sure they could get more putting it into something more sophisticated but it's not too shabby.
I have shit tons in premium bonds. Win a few quid most months. Can't go wrong. It's also improved its payouts twice already this year (to compete with interest rates).
I really wish I got into Saving Certificates before they pulled the plug on those. The interest on those were daft.
You'll be put on a peddle stool using language like that.
There's loads of savings accounts (some of them easy access too) knocking about in the 5.5-6.1% range now. I've opened a few in the last few weeks (including a Skipton one which gives me 7.5% if I deposit something in it every month) and I'm thinking it might be more beneficial to load these up rather than overpay on the mortgage if there continues to be a >1% difference in rates longer term.
Aye, I spotted that Skipton one. If I wasn't in house deposit mode, I'd dump stuff into that for a year.
It's just shifting mentality for me. I wasn't of adult age the last time savings rates were like this and I've worked out that if I save my overpayment amount every year instead, I could clear the balance of the mortgage at the same point as the overpayments would and have £30k left over. Obviously anything can happen down the line but right now it seems logical.
What percentage of your monthly salary goes into your pension? Mine's 6.5% and it feels small.
I've looked into Additional Voluntary Contributions (AVCs) in the past but felt talked out of it by the provider, as if they couldn't be bothered sorting it out. Might try again.
I'm a twit
I put whatever the maximum my employer matches in (6 or 8%, I can't remember), then I have a Lifetime ISA that I also pay into and Rishi kindly adds an extra 25% for me.
You can also set up a SIPP, but it seems much of muchness between that and a LISA, other than a SIPP goes through your employer and I don't want my employer to think they're paying me too much.
I don't know what an AVC is, but if it means paying in more than what your employer will match, then there are better options.
I'm overpaying my mortgage by £200 a month, will up it to £500 shortly. Fuck paying these cunts interest for years.
My company default is 20%, was 15% until a few years ago.
For other reasons I now shove a load more in.
Tax reasons.
Final Salary Pension at my spot, employer contributes 1.5 times the employee contribution but I also used an additional scheme to put more in, £30 a week extra. 16 years in, unfortunately the goverment moved the goalposts so now if you joined after British Rail and you retire early there are penalties depending on how many years early you go. Would have been nice to just cream off a 30 year pension in my early 50s
Don't you work for for local government? If so you will have some form of defined benefit pension so they will cap what you can pay in. You could AVC's or if you are still under 40 you could do a LISA but to be honest both ways are as long as they are short because you either pay tax before or after the investment all the government do with a LISA is give you back the money you have already paid tax on.
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