johnnycash
Registered User
- Messages
- 27
Hi all, Just looking for some advice.
I have a long term savings plan (managed fund) with Acorn Life, into which I have been putting approx €100 / month.
The plan is performing badly and I am currently €200 down (i.e. premiums paid over 5 years = €6120 and the current surrender value is €5900). The reason given for underperformance was Sept 11...
I am seriously thinking of pulling out of this plan and taking the surrender value. My reason is, in addition to bad performance so far (and I dont have any great optimism that the next 5 few years will bring great changes) things are currently very tight for me financially. I am just about scraping by monthly and in addition will have to spend some money on my car and home over the next year.
Question is, should I pull out of this plan and use some of the money (approx €1000) for upcoming expenses, or should I hold though and bear with it for the next 5 years, hoping for big improvements.
I also have an SSIA with canada life and am putting the max into this. I would intend continuing to add to this after the 5 years, so I feel I would not be doing anything too damaging by pulling out of the AL plan..
Thanks for any help...
I have a long term savings plan (managed fund) with Acorn Life, into which I have been putting approx €100 / month.
The plan is performing badly and I am currently €200 down (i.e. premiums paid over 5 years = €6120 and the current surrender value is €5900). The reason given for underperformance was Sept 11...
I am seriously thinking of pulling out of this plan and taking the surrender value. My reason is, in addition to bad performance so far (and I dont have any great optimism that the next 5 few years will bring great changes) things are currently very tight for me financially. I am just about scraping by monthly and in addition will have to spend some money on my car and home over the next year.
Question is, should I pull out of this plan and use some of the money (approx €1000) for upcoming expenses, or should I hold though and bear with it for the next 5 years, hoping for big improvements.
I also have an SSIA with canada life and am putting the max into this. I would intend continuing to add to this after the 5 years, so I feel I would not be doing anything too damaging by pulling out of the AL plan..
Thanks for any help...