investment 2000000

[Katella]

My parents aged 67 invested 200000 euro with bk of ireland they were advised to leave for 5 yrs if not touched within time frame would receive same back Now they need some cash and are afraid to withdraw as investment has gone away down Help what do they do

 

[ClubMan]

investment 2000000

...

My parents aged 67 invested 200000 euro

€2M or €200K?

What product(s) is the money invested in?
What terms & conditions apply?
Who advised them when they were investing this money?

 

[Katella]

200000 euro sorry typing not too good I havent seen the terms and conditions or where the money is invested All I know is they will get the full amt back if they leave in five years.if withdraw before and shares are down they will be at a lose . They were advised by a bk if Ireland advioser Will get more details

 

[sam h]

Call Bof I and find out what penalties will apply - I reckon they will cash it in at current value & your parents will have to take the hit or they wait (how long are they in it?) and will be guarenteed to get the full amount back. If there is only a short amount of time left, it may be better to get a loan for what they need.

 

[ClubMan]

If they need some of this money now then surely they have no choice other than to cash it in and face whatever losses and/or penalties apply? If they are not in such urgent need then the question is slightly different - what should they do with this investment. You really need to post more details about what specific product this is, what other savings/investments/debts your parents have etc.