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Anthony French
Posted: 22 April 2024 13:24:37(UTC)
#33

Joined: 09/09/2018(UTC)
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Instead of Premium Bonds have u considered Government Gilts where any capital gains
are tax free.

KEY INFORMATION
ISIN GB00BLPK7334
TIDM TR39
Exchange LSE
Par Value £100
Maturity Date 31/1/2039
Coupons per year 2
Next coupon date 31/7/24 e
Coupon 1.125%
Income Yield 1.77%
Gross redemption yield 4.52%
Accrued interest 24.42p
Dirty Price £63.93


Not only a lump sum to pay down your mortgage, u will be paying off your mortgage in
devalued inflation pounds as your salary rises.
The risk is that u have to cash in early and interest rates are higher than today, no risk
if u hold to maturity.
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MBA MBA on 22/04/2024(UTC), Sara G on 26/04/2024(UTC)
Jay P
Posted: 22 April 2024 14:04:41(UTC)
#4

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Andrew1952;303346 wrote:
Jay P;303191 wrote:
Retired.
6 months instant access. Currently earning 4.7pc.


Where ?. Even fixed rate accounts aren't paying that much

Well, Zopa via HL as it happens. But a quick google shows a number of options up to or just over 5pc.- Paragon, Aldermore, Leeds BS etc
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D Bergman on 22/04/2024(UTC)
D Bergman
Posted: 22 April 2024 14:09:52(UTC)
#5

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Jay P;303356 wrote:
Andrew1952;303346 wrote:
Jay P;303191 wrote:
Retired.
6 months instant access. Currently earning 4.7pc.


Where ?. Even fixed rate accounts aren't paying that much

Well, Zopa via HL as it happens. But a quick google shows a lot of options up to or just over 5pc.


If you use the Active Savings facility in HL, you can save in various fixed-rate options about or just below 5% (12, 18 & 24 months when I checked last week).
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Jay P on 22/04/2024(UTC)
Harry Gloom
Posted: 22 April 2024 14:18:34(UTC)
#34

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I'm getting (BOE base rate) 5.25% inside my Aviva workplace pension on my cash balance with no AMC fees.

Makes buying the single MMF I have access to moot for my risk-off money as it will give slightly less than 5.25% and is subject to the AMC fees.
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Jay P on 22/04/2024(UTC)
Neminem Laedit
Posted: 22 April 2024 15:39:25(UTC)
#35

Joined: 17/09/2018(UTC)
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Zero Cash.

Never felt the need for the filthy stuff.

My BTLs pay my living expenses. More or less guaranteed, with benefits claimants. I've had more than 98% of the maximum possible rent over 20+ years (including ordinary, natural voids).

Rents have just gone up 25%. Thanks Jeremy !
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Jay P on 22/04/2024(UTC)
OmegaMale
Posted: 27 April 2024 15:09:45(UTC)
#36

Joined: 02/07/2020(UTC)
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I can see four main reasons to hold cash:

+ Emergencies (car repairs, house repairs, human repairs, etc). Can usually be covered by credit card allowing time to retrieve funds from wherever you choose.

+ Planned major expense (New Car, house improvements, house move, etc.)

+ Buffer against major market falls.

+ Cash to take advantage of investment opportunities.

For context, 12 years retired, mid-60s with 23% cash, 77% investments (of which 90% are equities). Living on DB pensions which easily cover all expenditure. SIPPs as yet untouched.

For us, the most important reason for the cash is for a future house move and as a buffer against falls. Although instant access account paying just under 5% hold a fair amount we are continually feeding money into regular savers to take advantage of rates up to 7%.

OM
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Jay P on 27/04/2024(UTC), Martina on 27/04/2024(UTC)
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