BOI fund

C

Chocolatechip

Registered User
Messages
26
I have been reading the forum & am now wondering if it is time to cash out my BOI fund.
It is an iFund 3 S9 if that helps. Opened with 20K in 2011. now at 24,181K gross tax. 23,595K net tax today. Have no other investments.
Have 5yr state saving certs for other savings & wondering if I should close this fund & move to the state savings.
Thanks for advice.
 
To get a meaningful response to this question you need to post a lot more information - age, income, goals, pension status, ...
 
Even if you take it out and go for the highest paid interest in the state savings, ie, the 10 year one, you'll earn less than 1%, and have to leave it there for the full time period. Sadly it's not a lot of money to play around with in other funds, etc, because of charges.
 
I completed a money makeover in March & got great advice..
I'm 41, teacher, with avcs
Husband 41, construction increased pension contributions due to advice here.
4 kids, mortgage free. Approx 100k spread around on deposit, state savings, including this 24k in BOI..
I know interest rates are low so I was just wondering if it is doing ok or worth moving it somewhere.. thanks
 
Just spotted you have 4 children, depending on their ages will determine a lot going forward. Well done on being mortgage free. I don't know enough about your pension contributions as a teacher to advise you, but that's the avenue I would be investigating.
 
Kids are from 11-4. So time before college.. I started teaching late so would need to teach until 66 for full 40 years.. hense the avcs as don't plan on teaching until then. Also have a small pension from 1st job..
I guess I was just wondering if I should leave the 23k with BOI ? Or would it make similar in a state savings as it's tax free
 
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