Have $10,000, now what?

Forums › Off topic › Have $10,000, now what?

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mattwnz

19389 posts

Uber Geek

#1130072 16-Sep-2014 17:04

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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loceff13

992 posts

Ultimate Geek

#1130185 16-Sep-2014 19:31

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%

nzkiwiman

2584 posts

Uber Geek

Subscriber

#1130642 17-Sep-2014 13:10

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'

Unregistered

69 posts

Master Geek

#1130668 17-Sep-2014 13:33

Definitely not wasting it on Bogus Bonds...

nakedmolerat

4621 posts

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Trusted

Lifetime subscriber

#1130670 17-Sep-2014 13:42

Buy iPhone 6

nicnzl

172 posts

Master Geek

#1130698 17-Sep-2014 14:09

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

mattwnz

19389 posts

Uber Geek

#1130702 17-Sep-2014 14:12

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.

garvani

1873 posts

Uber Geek

Trusted

#1130738 17-Sep-2014 14:57

10k is a hell of a deposit on a >2010 wrx STI. If it was myself that's what id be doing

(only because that's my actual intentions and im not quite that far along in my savings

)

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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