Quinn Freeway vs First Active Online A/c

[Happy Girl]

I have 20k invested in Quinn Freeway with a current value of just under 18k. However as I am in this for the long term 10+yrs I am not overly worried (maybe I should be!!!!!). Anyway I have 5k spare at the moment which I dont anticipating for about 10+yrs and am debating whether to put into First Active online acc and maybe start to make small regular contribution to this (say 100pm) or whether to open another Quinn Freeway and put the 5k into it and start to make regular contribution to this (again about 100 pm). Any ideas or comments on either options.

 

[ClubMan]

If you were going to put it into QL then you don't need to open a new account - you can just put it into the existing one under whatever fund(s) you choose can't you?

If you were thinking of regular deposit savings then you should probably look at one of the c. 7% accounts on offer (maybe that's what you're talking about?).

Remember that deposits and equity investments are generally at opposing ends of the risk/reward scale so to compare them directly is not really comparing like with like.

 

[AJM]

I have 20k invested in Quinn Freeway with a current value of just under 18k. However as I am in this for the long term 10+yrs I am not overly worried (maybe I should be!!!!!). Anyway I have 5k spare at the moment which I dont anticipating for about 10+yrs and am debating whether to put into First Active online acc and maybe start to make small regular contribution to this (say 100pm) or whether to open another Quinn Freeway and put the 5k into it and start to make regular contribution to this (again about 100 pm). Any ideas or comments on either options.

the products from the life companies tend to be really really fee heavy.. if you think about it 1.5% x 10 years is 15% of any return gone at maturity on annual fees in addition to the commsion upfront !

given how desperate the banks are for funds at the minute there are some really nice deposits floating around so I would recommend that

 

[ClubMan]

the products from the life companies tend to be really really fee heavy.. ... annual fees in addition to the commsion upfront !

Not necessarily. And many don't charge additional commissions over and above the annual management fee.

given how desperate the banks are for funds at the minute there are some really nice deposits floating around so I would recommend that

Fine - except that as I said comparing unit linked funds and arguably deposits is comparing apples and oranges. A better way to approach this is to do a fact find/financial review, figure out what short, medium and long term plans you have and then choose a range of savings/investment options appropriate to your specific needs for funding these. Not the other way around.

 

[AJM]

Not necessarily. And many don't charge additional commissions over and above the annual management fee.
Fine - except that as I said comparing unit linked funds and arguably deposits is comparing apples and oranges. A better way to approach this is to do a fact find/financial review, figure out what short, medium and long term plans you have and then choose a range of savings/investment options appropriate to your specific needs for funding these. Not the other way around.

but many do ...

second point taken