loss in savings plan

T

tapjlk6

Registered User
Messages
10
Just wanted to post this to bring to everyones attention to check your investments.
Ten years age we took out a Eliete Savers Policy in the hope that we would have a nice lump sum now. Last October it had broke even.
This morning we check its value to our horror it has lost 1/6th of its value.
My question now is should we leave it and hope it improves again or cash it and suffer the loss
 
Does it have a 10 year maturity? If not I would say don't cash it in unless you really need the cash now.
 
Tis both too early and too late to panic now.

have a chat with an advisor. You may be able to switch into another fund, or you may wis to ride out the current share bloodbath in the hope that prices rise over the next few months/years.
 
It does not have a 10 year maturity it was left open we can pay into it as long as we want. Markets will have to improve a lot for me to make up my losses and make a profit.
I'm a bit late thinking of it now. Why was the returns not a lot better in previous "good' years
 

How did the group managing your fund manage to lose money for you over he last 10 year period is what i would like to know?

Keep in mind - if the 1/6th loss is in nominal terms, then in real terms it's an awful lot more.

WHat were they investing in during that time?

They deserve a serious rap on the knuckles.
 
tapjlk6 said:
When we started policy on 1/4/1999. There was Death benefit (1st death only) included with the plan. Thats all I know
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You should ask the provider for a breakdown of how much of your money has been invested and how much has been deducted in charges, including charges for life assurance cover since you began. That will give you a better understanding of the real return. It will also help you decide whether or not you want to continue putting more money into this.

Make sure that you actually need the life assurance cover and find out how much you are presently being charged for it. I would suspect that the cost of life cover is increasing as you get older, so get quotes to see if you can get cheaper life cover at a fixed cost from another company.
 
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