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16476 posts

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  #1130072 16-Sep-2014 17:04
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Bee: I once read an article about Bonus Bonds that stated that if you have $10,000 invested in it the odds are you will win some prize every month...

This is an experiment I intend to try if I ever have a spare $10K...


I know someone who had over $10k in them, and they didn't win every month. I believe the winnings worked out at less than 2% over the year, which is a lot less than you get in the bank. I told them that they maybe better off to put the money into a high interest bank account and buy a lotto ticket each week from the interest, and they would still get some interest left over too.

I have $500 in bonus bonds and last month I won $60, but was the first prize in years.

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Ultimate Geek


  #1130185 16-Sep-2014 19:31
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mattwnz:
I know someone who had over $10k in them, and they didn't win every month. I believe the winnings worked out at less than 2% over the year, which is a lot less than you get in the bank. I told them that they maybe better off to put the money into a high interest bank account and buy a lotto ticket each week from the interest, and they would still get some interest left over too.

I have $500 in bonus bonds and last month I won $60, but was the first prize in years.


The chance of a winning unit is 1 in 16000-20000, you would generally get 2x as much from the same money in a savings account at 4.35%

 
 
 
 


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  #1130642 17-Sep-2014 13:10
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I put $1000 into Bonus Bonds in 1991 (ok, my parents did)
In the last ... 23 years I have added $365 to my total. 

I keep on telling myself I will pull it out BUT once its out, it is so much easier to spend on 'nothing'



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Master Geek


  #1130668 17-Sep-2014 13:33
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Definitely not wasting it on Bogus Bonds...

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  #1130670 17-Sep-2014 13:42
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Buy iPhone 6





172 posts

Master Geek


  #1130698 17-Sep-2014 14:09
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nakedmolerat: Buy iPhone 6


Or buy multiple iPhone 6's 1 week before release http://www.geekzone.co.nz/forums.asp?forumid=76&topicid=152138

16476 posts

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  #1130702 17-Sep-2014 14:12
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loceff13:
mattwnz:
I know someone who had over $10k in them, and they didn't win every month. I believe the winnings worked out at less than 2% over the year, which is a lot less than you get in the bank. I told them that they maybe better off to put the money into a high interest bank account and buy a lotto ticket each week from the interest, and they would still get some interest left over too.

I have $500 in bonus bonds and last month I won $60, but was the first prize in years.


The chance of a winning unit is 1 in 16000-20000, you would generally get 2x as much from the same money in a savings account at 4.35%


It was about 2.5% in 2012 http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10834647  . However I beleive when interest rates are lower the amount of prizes also decreases.

 
 
 
 


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  #1130738 17-Sep-2014 14:57
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10k is a hell of a deposit on a >2010 wrx STI. If it was myself that's what id be doing wink (only because that's my actual intentions and im not quite that far along in my savings cry)

Of course this probably doesn't appeal, so go on a decent holiday and broaden your horizions, you only live once.

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