NS&I Index Linked Certs closed for new applications

harrumph_2

last time I saw a financial advisor, 2 years ago (to take control) he lost my family £10000!

£8000 hit to pull out of Equitable. I am not an investor, just an ordinary individual trying my best, seemingly against the odds.

lisyloo

last time I saw a financial advisor, 2 years ago (to take control) he lost my family £10000!

If you didn't want an investment with that kind of risk then why did you agree to it?

I am not an investor, just an ordinary individual trying my best, seemingly against the odds.

Why are you playing the odds then?
Why don't you invest in something safe?
You will have to accept you don't get great returns but understand the benefit of the safety.

What you are doing is akin to buying a lottery ticket then stamping your feet if you lose.
The nature of gambling is that you might lose.
If you don't want to lose then don't gamble.

If you do gamble and put your capital at risk, you have to accept you might lose it. It's really as simple as that.

dgaf

lisyloo wrote: »

Why don't you invest in something safe?

Like the 1000's of other investors that invested in Equitable Life, I'm sure that harrumph thought their investment was safe at the time.

Before you rubbish and ridicule other peoples posts maybe you should try to appreciate that not everyone is as financially savvy as maybe you are.

For someone with a serious amount of posts do you not think being a tad more helpful would prove more fruitful?

You need to read up on Forum Etiquette , instead of being rude and arrogant.

lisyloo

you should try to appreciate that not everyone is as financially savvy as maybe you are

Then they should stop complaining or do something about it.
If they chose to do nothing they should stop whinging.

If my car breaks down I have several options
1) learn to fix it myslef
2) pay someone to do it
3) blame everyone else

I don't think doing 3 is particularly helpful.

It's not arrogant or rude it's true.
Those who do nothing have only themselves to blame.
Sorry that some of you don't like the truth.

Sceptic001

lisyloo wrote: »

err no.....I think you've got that wrong.
Interest rates would go up if inflation was lokoing like going BELOW the target range.

Other way round, surely, lisyloo?

In normal times interest rates go up when inflation is high to choke off demand and down when inflation is low to stimulate demand.

dunstonh

last time I saw a financial advisor, 2 years ago (to take control) he lost my family £10000!

Not unexpected. Most investments lost money for people that invested two years ago. That doesnt make them bad. If that £10,000 is on £20,000 invested that its a lot and suggests very high risk. If its on £100,000 then a £10k drop is nothing. If its on more than £100k then its just part of the typical fluctuations you get.

£8000 hit to pull out of Equitable. I am not an investor, just an ordinary individual trying my best, seemingly against the odds.

I've pulled many out of plans with a penalty. Oneo of the biggest penalties I have seen was over £30,000. However, the savings on modern contracts would have seen it save about £150,000. You cant be short sighted with these things but look at the bigger picture.

messeditup_2

Ns&I, whose profits go to the Treasury, took the decision to stop selling them to new customers from yesterday after investors snapped up £5.4billion of them in the past three months, the highest total ever. The only people who will be able to get them in future are the 1.45 million customers who already have them or who have two or five-year fixed interest savings certificates.

lisyloo

In normal times interest rates go up when inflation is high to choke off demand and down when inflation is low to stimulate demand.

Yeah your right.
Perhaps I'm confused as we aren't in "normal" territory.

balf

Just rang NS&I and asked re the position with maturing certs. Was told that these can be rolled over into the issue that has just been pulled. Good news for present holders!!

As to previous post on financial advisors, it is worth remembering that just as grocers have as a first priority, their profits, so it is with FI's. Some are good, I had a good one for 40 odd years, but even there, when I look back and ballance the winners against the losers, I realise that I could have done better managing my finances alone.

If you think your finances are important to you then it makes sense to learn about money. Take an interest and respect it. Wish I had known what I know now all those years ago, but that applies to many things in life.

And why don't they teach money in schools.....hang on then they would get job applications from - financial advisors.

David.

lisyloo

You don't necessarily have to have a financial advisor to decide to

• put money into an ISA
• Contribute to your works pension scheme
• Get NS&I index llinks certificates

etc.

I would agree that day to day trading is something best left to the professionals unless you intend to spend a LOT of time getting educated, but there are an awful lot of things you can do (and a lot of people already do) for yourself.
I don't trade myself mostly because it doesn't interest me enough to spend the time on it so I'd rather pay someone else and spend time on things that interest me, but you can learn enough to know what's best.
It's the same with other things as well surely.
If we follow the car analogy.
You don't have to become a mechanic to keep your car up together, but you do need to know when it's needs servicing, MOT and new tyres and you do need to check the oil and put some windscreen wash in it.
No-one is saying anyone has to become an expert, but if you doesn't take any interest at all then you leave yourself in other people's hand don't you and this site is about NOT doing that.

I do agree with you very much abotu education.
Kids should learn about repayment mortgages vsersus interest only instead of useless algebra.
APRs, how interest is caluclated.
What gross, net and AER mean etc.
I'd actually be quite intereted in doing something like that.