Standard Life 10 year savings plan – MASSIVE shortfall

sabretoothtigger

If that was possible I guess that was the best choice. The system is screwed up basically, it shouldnt happen but it did and alot of people have lost money. If it makes you feel any better a share tracker did very similar and lost money over this last ten years.

I would have thought a savings plan should be more prudent and lock in gains, but I dont know what you were told when it was sold.
Did you receive yearly estimates on its value?

this was one of the worst 10 year periods in generations.

You can blame the politicians for this imo They make financial decisions that make us all worse off and they arent qualified to do the job. If they were running a business it would go broke because they never balance the books

RayWolfe

sabretoothtigger wrote: »

You can blame the politicians for this imo They make financial decisions that make us all worse off and they arent qualified to do the job. If they were running a business it would go broke because they never balance the books

Oh so we need to be governed by businessmen, eh?
Sounds like a good idea. I think there are a number of people standing by to do this, they used to run banks, Enron, Marconi, etc. None of them made us worse off! :rolleyes:

bilbo_2

bilbo wrote: »

my SL endowment has just matured

payed in 1200
maturity value 1207

LOL

Forgot to mention that I got £500 in shares from them when they DM:beer:

sabretoothtigger

RayWolfe wrote: »

Oh so we need to be governed by businessmen, eh?
Sounds like a good idea. I think there are a number of people standing by to do this, they used to run banks, Enron, Marconi, etc. None of them made us worse off! :rolleyes:

A capitalist democracy would have you elect them so not quite ruled by them. Your better off if they can actually the do the job even if they are evil masterminds also.

A good competitive business does better serve a country better. Enron were criminal I agree

A monopoly is closer to what government and nationalised business is. Northern Rock operates with an unfair advantage at present.

bendix

prowla wrote: »

Sadly, it is also stated that the value can go down as well as up, so it is buyer beware!

So how can it be a con, then?

dwsjarcmcd

Think yourself (relatively) lucky to have had a SL policy. My Friends Provident policy matured in June. Paid in £35 p.m. for 10 years = £4,200. Got back £3950!!
My pragmatic view is that I never noticed the £35 or would have just spent it, so at least I have a small lump sum for my daughter. Oh and their shares are !!!!, not even worth selling

sabretoothtigger

It held greater risk then you'd expect of a savings plan maybe. I was comparing it to shares there but it sounds like a savings account to most people I guess, what was the potential upside to it

bendix

sabretoothtigger wrote: »

You can blame the politicians for this imo They make financial decisions that make us all worse off and they arent qualified to do the job. If they were running a business it would go broke because they never balance the books

sabre, your posts are normally excellent.

This one is unbelievably childish, and not like you at all.

Blame the politicians for the worst ten year investment period in history? How? Blame who, for what, which led to what?

Could you explain what 'politicians' did to affect the sharemarket, both here and around the world please?

sabretoothtigger

They made crappy rules. You cant blame the cricket teams if the umpire switches the ball for one made of solid rubber.

Im not in favour of unbridled capitalism, people will act badly if allowed and the politicians are to blame more for this failure then any others

Bottom line is governments should provide a long term stable atmosphere and they failed in favour of quick and easy measures. They are still doing this and its a screw up

Its really a disaster in public perception here and in america because this problem is seen as originating with companies but companies dont print money or set interest rates.
They dont set tax rates or borrow the majority of the countrys debt, both uk and america its all about the government influence

baby_boomer

Very few have made any money in this 10 year period on their own if they have ventured outside BS/bank accounts.

Yet the OP has made over 40% thanks to Standard Life (free shares included) and is complaining!

!!!!!!.