HBOS Share ISA

lilfarmdog

I have recently (in the last 4 months) invested in a share ISA with Halifax Bank of Scotland. I was told to keep this money for a minimum of 5 years; I am investing monthly. How is this likely to be affected with the credit crunch. it is a medium risk investment. Im new to all this and getting increasingly worried that I've done the wrong thing investing in a share ISA. thanks

Lokolo

You took investment advice from a bank which isn't the best thing to do.

However, you can put £100 a month in, after 12 months, your investment may not be worth £1200, it may only be worth say, £900. Your money can decrease with investments.

Whats the name of the product your invested in?

My funds have gone down around 10% since I started investing (£100 a month, for 3 months so far). But I imagine when the worlds markets start getting their act together it should go up a little.

As you cannot tell (except there is a downward trend) what the markets are going to do over the next few months, drip feeding (putting money in monthly) is the best thing to do, if the value lowers, you get more units, so when (hopefully) the investment gets better value, you earn more money. And if the investment goes up, you are gaining money from previous units bought, therefore not losing out on a lot.