family investments , has anyone got one?

egghead

i have 3 family investments ,

i have been doing them for 9 years and are well down so far.... what should i do?



please help, im worried about the market etc and think i should pull out?

dunstonh

You havent told us anything about the investments. Just the provider.

im worried about the market etc and think i should pull out?

20% up in the last few weeks. Is that what you are worried about? Assuming its not, what is it that worries you? Are your investments in the stockmarkets and if so, which ones and how much of it?

Reaper

Firstly Family Investments is a company not a product so we can't advise without knowing whether you have a Friendly Society Policy, Child Trust Fund, Pension or whatever.

If you mean a 10 year friendly society policy then look at your T&C but without knowing them I suspect it would be barmy to surrender a 10 year policy in year 9 and suffer whatever penalties there are.

If you think the market will continue to fall then there is an arguement for surrendering them (with the proviso above). However if you are just thinking of surrendering them because they have already fallen then that goes back in the barmy category. Don't buy high and sell low.

You need to take a view on what you think the market will do. My view is that the worst of the falls have now happened and I am looking to get into the stock market. My view is it will bumble along around this level for quite a long time then finally start to go up. However if you asked 10 people on here you would get 10 different views.

EDIT: Beaten to it. I shouldn't rabbit on so.

Lokolo

Reaper wrote: »

EDIT: Beaten to it. I shouldn't rabbit on so.

Ha. Agreed

ManicMum

I've got Family Assurance policy and I am in year 9. I contacted them about it but was told if cash in now will have to pay tax so probably not worth it. So you would be losing even more than you have lost already. Just a thought.

dunstonh

but was told if cash in now will have to pay tax so probably not worth it.

Depends on whether you were told this correctly and if you are a higher rate tax payer or not. Potential for tax should be the correct term but it doesnt mean you will.

egghead

its a family bond x 3 ,

with family investments

ManicMum

I am actually a non tax payer so should that mean I pay no tax on it? i know that sounds daft but just thought maybe you had to pay tax on these things if you cashed in early. Going to be well mad if given wrong info as policy was probably worth more months ago than letting it mature to year 10. Will I have a case to complain?

cheers