ssia losing money-help

D

deirbhlec

Guest
My SSIA is losing money fast in the last few month. The bank has advised me not to withdraw the amount as share prices will balance out and I will regain the loss in time. Should I leave it in or take out the money before there is a further loss? Any advice would be greatly appreciated.
 
I agree with crumdub12.

Also ... don't expect independent advice from a tied agent such as your bank.
 
49.4% of the policy is currently invested in a Lifetime equity fund and 50.6% in Investment for growth, the policy is with BOI
 
What charges apply?
What is your investment timeframe/when do you need the money and for what?
What other debts/investments/savings do you have?
Why did you choose this product in the first place?
How much was invested (including SSIA top-ups) and how much is the investment worth right now?
 
i would ideally like to keep the investment going for another 4-5 years provided I'm not losing more money.I have a mortgage and approx 6000 savings in the credit union. The policy was worth 10,141.28 on the 19th feb2008.Investment return for the last year was -2,257.91.
 
fund management charges at 1.5%- sorry about being so vague am (obviously)totally clueless about this kind of thing!
 
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